Ethics Flashcards
How would you define ethical behaviour for a chartered surveyor?
Acting in accordance with the 5 RICS professional and ethical standards
Why are the ethical standards important?
Create a clear and streamlined guide to members to ensure that clients and anyone else who deals with the RICS has confidence in the profession
Name the RICS professional and ethical standards.
- Act with integrity
- Always provide a high standard of service
- Act in a way that promotes trust in the profession
- Treat others with respect
- Take responsibility
What is meant by ‘act with integrity’?
Being honest and trustworthy in all that I do
Transparent, respecting confidential information, not taking advantage of anyone, not allowing bias or pressures affect my judgement or obligations, not accepting gifts or hospitality that might suggest an improper obligation, acting in the interest of the public
What is meant by ‘provide a high level of service’?
Ensuring the best possible advice, support or performance is given to my clients
Be clear about the service being provided, act within my scope of competence, transparent about fees and any other costs or payments, communicate with clients in a way that allows them to make informed decisions
What is meant by ‘promote trust within the profession’?
Act in a manner, both in professional and private life, that promotes me and my firm in a positive way
Promote the highest standards globally, amending behaviour to suit others, fulfil obligations
What is meant by ‘treat others with respect’?
Be courteous, polite and consider cultural sensitivities and business practices
Never discriminate, encourage the fair and respectful treatment of clients
What is meant by ‘take responsibility’?
Be accountable for my actions and don’t blame others if things go wrong
Always act with skill, care and diligence, respond to complaints in the appropriate professional manner, prepare to question things that don’t seem right
Give some examples of how you reflect the RICS ethical standards in your work.
- Integrity - turning down an invitation from a contractor whilst settling the final account
- High standard of service - referring clients to specialists when scope is outside competence
- Trust - rejecting the early certification of work
- Respect - working with people from different backgrounds equally
- Responsibility - questioning unsafe working on site
What is the RICS Decision Tree?
Flowchart to help members decide how to act in difficult situations where their professional ethics may be at stake
What factors does the RICS Decision Tree consider?
- Sufficient facts
- Legality
- Ethical standards
- Consultation of appropriate people
- Clear reasoning
- Impact if actions made public
What is a conflict of interest?
Anything that impedes or might be perceived to impede an individual’s or firm’s ability to act impartially and in the best interest of a client
Give some examples of where conflicts of interest may arise.
- Acting for two different parties with competing interests at the same time
- Financial interests (e.g. gaining over and above your normal fee)
- Personal relationship
- Commercial relationship
- Interests of your firm conflict with that of your client
What should a surveyor do if a conflict of interest arises?
- Should be dealt with by implementing openness and transparency
- Declare any conflicts of interest clearly to all parties ASAP and offer to stand down from acting for any party
- All parties can then decide how they wish to proceed and if there are any objections you must stand down
Describe a conflict of interest you have experienced and how it was resolved.
Refused to accept certain gifts/hospitality from a contractor whilst settling the final account due to timing and how this may be seen as affecting impartiality
Resolved by referring to the RICS Professional and Ethical Standards Decision Tree to aid my decision to refuse
What is a ‘Chinese Wall’?
An information barrier within an organisation used in order to prevent exchanges or communication that could lead to a conflict of interest