Ethics Flashcards
What are the 5 global ethical and professional standards?
- Act with Integrity
- Always provide a high level of service
- Act in a way that promotes trust in the profession
- Treat others with respect
- Take responsibility
What are the 10 international ethical standards?
- Accountability
- Confidentiality
- Conflict of interest
- Financial Responsibility
- Integrity
- Lawfulness
- Reflection
- Standard of service
- Transparency
- Trust
Why would you become a member?
- Status
- Professional recognition (provides confidence)
- Market advantage (RICS Standard)
- Network of knowledge and people
Name 5 of the RICS Faculties
- Building surveying
- Quantity Surveying & Construction
- Project Management
- Dispute resolution
- Valuation
What are the RICS Faculties?
They are the professional groups under the RICS
What are the 5 Principles to better regulation?
- Proportionality
- Accountability
- Consistency
- Targeting
- Transparency
(PACTT)
How did the 5 principle of regulation come about?
They were a result of the Carlsberg report published in 2005 which reviewed the RICS regulatory framework.
What is the role and purpose of the RICS?
To regulate, maintain, protect and promote.
- Regulate the profession
- Maintain high level of education and standards
- Protect both clients and consumers through the ethical standards
- Promote impartial advice, analysis and guidance.
Why does the RICS have the APC Process?
Helps to ensure candidates meet the technical standard and provide commitment to the ethical standards that underpin the RICS. Candidates must act with integrity and bring integrity into the profession.
What is the RICS Motto?
Est Modus in Rebus - which translates to mean there is a measure in everything
What are the rules of conduct for Members?
Interpretation Communication Ethical Behaviour Competence Service CPD Solvency Information Co-operation
ICE - CSCS - IC
What are the rules of conduct for firms?
Interpretation Communication Professional Behaviour Competence Service CPD Complaints handling behaviour Client Money Professional Indemnity Insurance Advertising Solvency Agreement to cover death of sole partner Use of designations Information Co-operation
Why does the RICS have rules of conduct?
The RICS rules of conduct helps to maintain high standards and also creates standardisation for all which provides consistency.
What are the RICS Rules of conduct for?
The RICS Rules of Conduct provide a foundation for RICS Members which help the public and the reputation of the profession. They cover what all member are responsible and accountable for and apply equally to all members. It is also important to note that they do not repeat the obligations already on members by law.
What are the considerations need to be made when setting up a new firm?
- Fill in the RICS firm form of notification
- Secure PI Insurance
- Secure employers liability insurance
- Adopt training programmes for employees
- Must not misrepresent in logo’s
- Submit Annual Accounts
- Set up complaints handling procedure
- Ensure H&S at work act is complied with
- Adhere to the rules of conduct for firms set out by RICS
What should a complaints handling procedure be?
- Fit for purpose
- Available to all staff
- Understood by all staff
- Reviewed regularly by someone at a senior level
- Agreed PI insurance broker
- At least 2 stages; 1. consideration of complaint by a senior member or allocation of complain handler, 2. Referral to independent 3rd party ability to award redress mechanism
What is the royal charter?
It is a grant issued by a monarch. The RICS was granted to the RICS in 1881 by Queen Victoria. Its aim was for the RICS to maintain and promote usefulness of profession for public advice.
What is the RICS Black book?
A suite of guidance notes that define good technical standards for Quantity Surveyors. It contains essential development tools for younger professionals working through APC.
What name 6 documents are included within the black book?
- Acceleration
- conflict avoidance and dispute resolution
- cost reporting
- Final Account Procedures
- Retention
- Tendering Strategies
Define Bribery
The act of giving a firm or person financial or other advantage to encourage that person to perform their functions / activities improperly or reward that person.
What year was the bribery act published
2010
What does the bribery act do?
Aims to promote anti-bribery practices and made it a criminal offence to fail to prevent bribery. It also sets out 2 other offences specifically aimed at commercial bribery. It applies to all UK citizens, residents and companies established under UK Law and non-UK businesses operating in UK may also be liable.
What are the fines for individuals under bribery act?
Individual unlimited fine and up to 10 years in prison.
Regarding Anti-bribery RICS Regulated firms must?
- Not accept / offer directly or indirectly anything that constitutes a bribe
- Have plans to comply with all laws governing bribery and corruption
- Report anything that breaches anti-bribery or corruption laws to authorities
- Act with due diligence, perform periodic written evaluations of risk.
Regarding Anti-bribery RICS members must?
- Not accept / offer directly or indirectly anything that constitutes a bribe
- Ensure they have adequate knowledge of bribery / corruption be able to comply with requirements in professional statement
- Report anything that breaches anti-bribery or corruption laws to authorities
What are the 4 areas that constitute as a bribe?
- Acting on or accepting a facilitation payment or bribe
- Offences of bribing another person
- Bribery of a foreign official
- Failure of commercial organisations to prevent bribery