Ethics & Professionalism Flashcards
What is the RICS Code of Ethics?
The RICS Code of Ethics outlines the ethical principles and standards that RICS members and firms must adhere to, ensuring integrity, competence, and professionalism.
What are the five key principles of the RICS Code of Ethics?
1) Integrity & honesty,
2) Maintain professional competence,
3) provide a high quality & diligent servive,
4) Be accountable for your actions
5) Treat others with respect
When were the RICS Rules of Conduct last updated
February 2022
What does the principle of Integrity entail?
Acting with honesty and fairness in all professional interactions, and avoiding any behavior that might undermine trust.
What does Objectivity require from RICS members?
RICS members must make decisions impartially, without being influenced by personal interests or external pressures.
How does the principle of Competence apply to RICS professionals?
Professionals must only undertake work within their area of competence and ensure they have the necessary skills and qualifications.
What is meant by Professional Behavior in the RICS Code of Ethics?
Members must comply with legal and regulatory requirements, and act in a manner that upholds the reputation of the profession.
What is a conflict of interest according to RICS guidelines?
A situation where a member’s personal or financial interests could compromise their impartiality and professional judgment.
How should RICS members deal with confidential information?
Members must protect confidential information and only disclose it with proper authorization or when legally required.
What is the importance of compliance with laws and regulations?
Compliance ensures that professional activities are carried out legally and ethically, maintaining trust and avoiding legal issues.
What is the RICS guidance on ethical behavior in client relationships?
Members should act with integrity, provide honest advice, and avoid any behavior that could be seen as misleading or deceptive.
How should members address errors or omissions in their work?
Members should acknowledge, correct, and report any errors or omissions promptly, taking responsibility for their actions.
What are the implications of not adhering to the RICS Code of Ethics?
Non-compliance can lead to disciplinary action, damage to professional reputation, and legal consequences
expulsion from the RICS
How does RICS define professional conduct?
Professional conduct involves behaving in a manner that reflects well on the profession, adhering to ethical standards, and fulfilling professional duties diligently.
How can RICS members maintain their professional reputation?
By consistently demonstrating integrity, competence, and ethical behavior in all professional activities.
