Ethics L1 Flashcards
When was the RICS founded?
1868
What does the Royal Charter require from the RICS?
Charter requires the RICS to promote the usefulness of the profession for the advantage of the UK public and in other parts of the world. In practice, the charter means that important changes to our constitution – its bye-laws – have to be ratified by the UK Government, through the Privy Council, even after they’ve been approved by a majority of our members voting at a general meeting.
When was the Royal Charter granted?
By the Privy Council in 1881
How many qualified members
130000
Describe the difference levels of membership
FRICS, MRICS, AssocRICS, Trainee
How do you become a fellow
Evidence of four fellowship characteristics,
5 years + at MRICS level,
leadership role,
professional achievement,
academic achievement or
raising the profile of the RICS. Portfolio of professional achievement and include CPD record
Describe the Governance structure
Governing Council (highest governing body) - 25 members Standards and Regulation Board / Management Board / audit committee report to Governing Council and various comittees (audit commitees 17 specialist groups covering land and property and is responsible for outlining standards of competence and practice
Describe the role of the Governing Council
25 members - run the RICS, providing management and strategic direction. Is the highest governing body, setting global strategy and ensures the RICS fulfils its Royal Charter obligations. Provides strategic oversight on requirements on entry into profession and enforcement of professional standards so that we continue to deliver confidence in the built environment.
Describe the role of the Standards and Regulation Board
has exclusive responsibility for strategy, policy and operational oversight of the standards, entry and admission to the profession (through RICS’ education and qualification standards), and regulatory functions of RICS.
Describe the role of the management board
purpose is to direct RICS affairs under delegated authority from Governing Council
Name the chair of the Governing Council (Interim)
Nicholas Maclean
Name the chief executive officer (UK)
Sean Tompkins - stepped down from position - check RICS website
Name the current president
Clement Lau
Name the role of the RICS
- To maintain the highest standards of education and training
- To protect consumers through strict regulation of professional standards
- To be the leading source of information and independent advice on land, property and construction -
How do RICS firms deliver transparency
Through the use of - Standards documents lay out the ethical, conduct and competence related standards for the profession. Allows professional members / RICS firms to deliver transparency.
Name the RICS Global Professional and Ethical standards (5)
NEED TO THINK OF EXAMPLES WITHIN CASE STUDY
- Act with Integrity (be honest and straightforward in all that you do)
- Always provide a high standard of service (ensure your client receives the best possible advice, support and performance of the ToE you have agreed)
- Act in a way that promotes trust within the profession (act in a manner that promotes you, your firm and the profession in a positive way)
- Treat others with respect
- Take responsibility (be accountable for your actions)
Describe the Ethics Decision tree
provides a framework of questions which members should ask themselves when facing a situation in which they are asked to act in a potentially unethical manner
Name the document that sets out rules of RICS
Rules of Conduct for Members, 2007, ammended 2020
Rules of Conduct for Firms, ammended 2020
What is the role of the Rules of Conduct for Firms / Members
Set out standards of professional conduct and practise expected of members and firms.
Name the five principles of better regulation
- Proportionality
- Accountability
- Consistency
- Targeting
- Transparency
Describe 7 rules within Rules of Conduct for members (ECS CPD SIC)
ECS CPD SIC
• 3. Ethical Behaviour – members should act with integrity, avoid conflicts of interest and any actions which are inconsistent with professional obligations
• 4. Competence – members should carry out professional work with skill, care and due diligence
• 5. Service – members should carry out work in timely manner
• 6. Continuing Professional Development (CPD) – members should comply with RICS CPD requirements
• 7. Solvency – ensure personal and professional finances are managed appropriately
• 8. Information to RICS – submit information in timely manner
• 9. Cooperation – fully cooperate with RICS staff
When do firms have to Register with the RICS
- If firms have 50% of employees are RICS members and provide surveying services to the public, firm is required to register for regulation by RICS
- Firms with 25% RICS qualified principals are eligible to register
When can the RICS logo be used
only be used by RICS regulated firms
Describe 7 rules under Rules of Conduct for Firms 2020 - PCS CPD CCI
PCS CPD CCI
3 Professional behaviour - A Firm shall at all times act with integrity and avoid conflicts of interest and avoid any actions or situations that are inconsistent with its professional obligations.
4 Competence - A Firm shall carry out its professional work with due skill, care and diligence and with proper regard for the technical standards expected of it.
5 Service - A Firm shall carry out its professional work with expedition and with proper regard for standards of service and customer care expected of it.
6 Training and Continuing Professional Development (CPD) A Firm shall have in place the necessary procedures to ensure that all its staff are properly trained and competent to do their work.
7 Complaints handling A Firm shall operate a complaints-handling procedure and maintain a complaints log. The complaints-handling procedure must include an Alternative Dispute Resolution (ADR) mechanism that is approved by the Standards and Regulation Board.
8 Clients’ money A Firm shall preserve the security of clients’ money entrusted to its care in the course of its practice or business.
9 Indemnity A firm shall ensure that all previous and current professional work is covered by adequate and appropriate indemnity cover which meets standards approved by the Standards and Regulation Board.
Describe the hierarchy of RICS publications
International Standards – Mandatory
Professional Statements – Mandatory
Practise Statements – Mandatory
Guidance Notes – not mandatory but provided by RICS to promote good practise
Code or Practise – same status as guidance note, recommended good practise
Name benefits of RICS membership
status (client confidence), recognition (professional excellence), market advantage (RICS status and standards), knowledge, Network
Name rules of conduct for firms (part 3)
Part III Firm Administration
10 Advertising A Firm shall promote its professional services only in a truthful and responsible manner.
11 Solvency A Firm shall ensure that its finances are managed appropriately.
12 Arrangements to cover the incapacity or death of a sole practitioner A Firm which has a sole principal (i.e. a sole practitioner or a sole director in a corporate practice) shall have in place appropriate arrangements in the event of that sole principal’s death or incapacity or other extended absences.
13 Use of designations A Firm registered for regulation must display on its business literature, in accordance with the Standards and Regulation Board’s published policy on designations, a designation to denote that it is regulated by RICS.
14 Information to RICS A Firm shall submit in a timely manner such information about its activities, and in such form, as the Standards and Regulation Board may reasonably require.
15 Cooperation A Firm shall cooperate fully with RICS staff and any person appointed by the Standards and Regulation Board.
