Ethics Flashcards
Why do the RICS have the five rules of conduct?
- Maintaining consistent professional standards, governance and regulation.
- Rules to help deliver and robust and competent service.
- Maintain and promote usefulness for public advantage
- Providing the public with confidence in the service an RICS surveyor provides
What the RICS Five rules of Conduct?
- Members and Firms must act with be honest and act with integrity and comply with the professional obligations.
- Members and Firms must maintain their professional competent and ensure their services are provided by competent individuals
- Members and firms must provide a good quality and diligent service
- Members and firms must treat others with respect and encourage diversity
- Members and Firms must act in the public interest and take responsibility for their actions and to prevent harm to the public.
What is related to ethics within your Employee handbook?
- Anti bribery and corruption policy
- Anti harassment and bullying policy
- Equal opportunities and discrimination policy
How does the RICS ensure that professional standards and conduct are upheld?
The RICS has rules of conduct which are in place for members and firms which are based on
- integrity
- honesty
- Competence
- Service
- Responsibility
Please provide an example of how Members and Firms must act with be honest and act with integrity and comply with the professional obligations.
- Members and Firms must be honest and transparent with their clients
Please provide an example of how members and firms must maintain their professional competence and ensure that the services they provide are by a competent individual?
- Ensure frequent training and professional development
- Ensuring that members and firms do not provide a service which is outside of their knowledge, skills and resource.
- Conducting self evaluation of work to apply to lessons learnt for the future.
Please provide an example of how members and firms provide a good quality and diligent service?
- Communicating in a manner which is clear and easy to understand
- Having effective quality assurance measures in the workplace
- Clearly understanding the clients needs and objectives before the project starts
Please provide an example of how members and firms treat others with respect and encourage diversity?
- Respecting others rights and treating others with courtesy
- Check that supply chains do not involve with modern slavery or other abuses.
- working in a collaborative manner with others
- implementing and inclusion culture within the workplace
Please provide an example of how members and firms must act in the public interest, take responsibility for their actions and act to prevent harm to the public?
- managing professional finances responsibly
- responding to complaints appropriately and inline with the RICS time frames
- reporting breaches of the rules to the RICS
What is the purpose of a practice information document
This supplementary information provides support to surveyors. it is not mandatory or provide recommendations to surveyors
- Definitions
- processes
- checklists
- toolkit
What is the purpose of a professional standard document?
- These are set requirements
- How to provide services
- Set out mandatory requirements
- Sets out best practice that should be followed.
How does the RICS set out their professional guidance?
Through professional standards and information documents
Please provide an example of a professional standard document?
- NRM 1
- Conflicts of interest
- Clients money handling
- Rules of conduct
- Surveying safely
Please provide an example of a practice information Document?
- Appropriate contract selection
- Risk, liability & insurance
What are the CPD requirements for members and firms?
CPD; Continuous Professional Development
Members must carry out 20 Hours of CPD annually, which 10 hours must for formal CPD.
Members must undertake a ethics professionalism course refresher every 3 years.
What is the difference between Informal and Formal CPD?
I would refer to the CPD decision tree which would help distinguish between the 2. Usually Formal CPD has a structured learning outcome associated to it.
Can you explain how to act with integrity?
- being trustworthy, open and transparent
- Respecting confidential Information
- not taking advantages of others
- Acting without bias
- Not accepting gifts, hospitality, or services which may impact my judgement or obligations
Why must you act within your professional comfort zone/ competence/ capabilities
To ensure i do not provide incorrect advise which could lead to complaints of claims of negligence
Can you explain how you take responsibility?
- being accountable for my actions
- Act with skill, care and diligence
- Speaking up and respectively challenging matters
How do you provide a high standard of service
- being transparent with fees, scope and timeline
- Advice in line with my competence
- clear and concise communication which is easily understandable.
Can you explain how to promote trust in the profession?
- acting in a truthful manor
- Fulfilling my professional obligations
- Acknowledging how my actions affect others/environment around me.
How does a member of the RICS maintain a high ethical standard in the profession?
- Ensuring they complete their CPD requirements
- Rules of conduct
- Reporting of unethical standards
What is Whistle blowing?
Whistleblowing is the term used when a worker passes on information concerning wrongdoing.
What can an employer do to promote an ethical environment?
- Establish confidential Whistle blowing procedures. (reporting without identifying the wrong do’er)
- Introduce ethical standards in the employee handbook
- Conduct CPD/Workshops which teach staff about ethical standards
What is the difference between ethic and integrity
Integrity is more of a personal code of conduct
ethic is a set of rules and regulations which you should follow and reflect within your practice.
Are you aware of any tools provided by the RICS to help with making ethical decisions?
The RICS ethical decision tree.
main questions to ask your self;
- is it legal
- Does it align with the RICS rules of conduct.
What is Locum?
Another professional of who replaces a surveyor who is unable to provide their service;
- Can be a responsible professional such as accountant, solicitor
- For surveyors who work independently
- independent surveyors needs to cover the Locum
What is a conflict of interest?
A situation where your personal judgement may be compromised.
What are the different types of conflict of interest?
- Own Party conflict
- Party conflict
- confidential information conflict
What is informed consent
whereby the client has confirmed they are aware of the conflict of interest and are happy for you to proceed at risk.
What are the six principles of the bribery Act?
- Proportionality
- Top level commitment
- Risk assessment
- due diligence
- Communication
- monitoring and review
What is PI
Professional indemnity; covers the policy holder in the event their is a claim made them against them for financial loss for negligence
What are the limits of PI based on a company turn over
Up to 100k - £250k PI cover
101k - 200k - £500k PI cover
201k and over - £1m PI cover
What is run-off cover?
Run off cover is PI cover for when you have ceased trading. Run over cover is subjective to the project but usually lasts between 6 & 12 years. The RICS recommends 15 years. - minimum of 6 years.
Can you tell me what was included within the NDA on Coach House?
- Requirements for distributing confidential information to third parties
- return of destruction of confidential information
- general handling of confidential information
Why was it inappropriate to attender a summer BBQ/drinks on coach house
- Even though it was a negotiated tender i felt it was not appropriate to attend the party as it may have not looked good from the clients view
Where is the RICS Headquarters
Parliament Square - London
What is the RICS motto
There is measure in all things
Who is the current President of the RICS
Justin Sullivan
Why do you want to be a member of the RICS
Because I truly love the role of a QS and want to contribute to providing the high possible standard.
Under what circumstances would you be asked to handle client money
- Holding fees in advance of pro-longed absence
- For paying future contractor payments
How can you avoid modern slavery
- PQQ’s
- Supply chain checks
What information do you have to send the RICS annually?
- PI Cover
- Nature of Client
- Complaints handling procedure
- Training Procedures
- Clients handling money procedures
What is the Levitt review
An enquiry by Alison Levitt into historic treasury matters (financial reports/ unfair treatment) and subsequent RICS actions.
What is the RICS obligation under the royal charter?
Required to use of the usefulness of the profession for the public advantage
What was the Birchard Review
in response to Alison Levitts findings, its aim was to clarify the purpose of the RICS and the internal governance and structure.
What are the Principles of better regulation
- Transparency
- Proportionality
- Accountability
- Targeting
- Consistency
What is the purpose of the RICS governing Council
Ensures the RICS fulfils there royal charter obligations. Sets global objectives and strategies
What is the purpose of the RICS board
To implement the objects and standards set by the governing council
what is the purpose of the standards and regulation board?
To build and maintain trust and confidence in the profession
What is a regulatory compliance order
An agreement between the RICS and a member following a disciplinary action.
What is the purpose of the RICS
- To regulate and promote the industry
- to protect clients and public
- maintain training and professional standards
- provide impartial advice and analyse
What are some RICS current initiatives
Recent publication of the RICS diversity and equality 24/25
Launch of woman in surveying; insight report
What happens when the RICS rules are breached
Standard and regulation board will establish if any further actions need to be undertaken based on the evidence; if further actions is required it usually looks like;
- Issue a fixed penalty
- issue a compliance order
- Refer to a disciplinary panel
- may impose interim sanctions whilst investigation is underway.
