Ethics Flashcards by Jack Gibson

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

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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.

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What is related to ethics within your Employee handbook?

Anti bribery and corruption policy
Anti harassment and bullying policy
Equal opportunities and discrimination policy

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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

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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

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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.

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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

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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

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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

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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

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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.

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How does the RICS set out their professional guidance?

Through professional standards and information documents

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Please provide an example of a professional standard document?

NRM 1
Conflicts of interest
Clients money handling
Rules of conduct
Surveying safely

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Please provide an example of a practice information Document?

Appropriate contract selection
Risk, liability & insurance

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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.

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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.

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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

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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

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Can you explain how you take responsibility?

being accountable for my actions
Act with skill, care and diligence
Speaking up and respectively challenging matters

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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.

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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.

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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.