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QS APC > Ethics, Rules and Conduct > Flashcards

Ethics, Rules and Conduct Flashcards

1
Q

Who is the current RICS president?

A

Ann Gray

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2
Q

Who is the RICS CEO?

A

Justin Young

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3
Q

What is the role of the RICS?

A

The Royal Institution of Chartered Surveyors:
1. Promotes and enforces the highest professional standards in the commercial management of land, real estate, construction and infrastructure.
2. Provides leading edge advice to clients

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4
Q

What is the benefit of RICS membership/ Why do you want to be a MRICS?

A
  • Denotes integrity which would definitely install confidence in my clients, and stakeholders and help to improve my working relationship from the outset.
  • There is a large pool of chartered surveyors with years of experience to share experience and perspectives with, this will help to grow my knowledge and be the best surveyor possible.
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5
Q

What are the RICS five rules of conduct?

A
  1. Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS
  2. Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise
  3. Members and firms must provide good-quality and diligent service.
  4. Members and firms must treat others with respect and encourage diversity and inclusion.
  5. Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.
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6
Q

What is the difference between ethics and integrity?

A

“Ethics” are principles that guide behaviour,

“integrity” suggests that we should carry out ethical principles

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7
Q

What are the RICS professional standards and their status?

A
  1. Professional statements – mandatory requirements
  2. Guidance notes – are should/best practice
  3. APC – Requirements to entry to the profession
  4. Data standards – software must adopt RICS standards into offering.
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8
Q

What is a bribe?

A
  • Is a payment or reward offered for any commercial or personal advantage.
  • Example: Rugby tickets offered before tendering for a big job.
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9
Q

What is the bribery act 2010?

A
  • It contains 4 main offences:
    o Bribing another person
    o Being bribed
    o Bribing a foreign official
    o Failure by an organisation to prevent bribery
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10
Q

What are the 6 Principles of the Bribery act?

A
  1. Proportionality – is it proportionate to the risk and size of organisation?
  2. Top level commitment – Those in top level positions are best placed to ensure an organisation conducts business without bribery
  3. Risk Assessments – A risk assessment shows the nature or extent of the exposure to bribery
  4. Due diligence – Procedures must be applied, taking a proportionate and risk-based approach
  5. Communication – Employers to communicate their policies and provide training etc.
  6. Monitor and review – organisations should monitor and review procedures and policies
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11
Q

Who does the Bribery Act apply to?

A
  • Any British citizen, anywhere in the world
  • A British associate with a connection, through business, to the UK who conducts an offence
  • An organisation incorporated in the UK who has committed bribery anywhere in the world
  • An organisation or partnership; that has carried out business in the UK
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12
Q

How do you comply with the bribery act?

A
  • My company has bribery and corruption policies, I strictly adhere to these;
  • I report any act of bribery to the Serious Fraud Office or National Crime Agency
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13
Q

What are the potential consequences for not adhering to the bribery act?

A
  • 10 years imprisonment
  • Unlimited fine for both individuals and businesses
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14
Q

What is Money Laundering?

A
  • Turning dirty money, clean.
  • For example, money which has been gained from drugs – but has gone through a business to appear like it has come from legitimate sources.
  • Hot topic on this is: Housing market and solicitors
  • Money Laundering and Terrorist Financing Regulations 2017
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15
Q

How do you report suspicious behaviour?

A

Submit an SRA (Suspicious Activity Report) to the National Crime Agency

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16
Q

What is corruption?

A

The abuse of power for private gain

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17
Q

What is a price fixing cartel?

A

A collection of businesses that act together and fix prices for goods and services they produce

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18
Q

What is terrorist financing?

A

A collection of funds to support terrorist acts

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19
Q

What is a facilitation payment?

A

A payment made to a government official that acts as an incentive to complete an action or process that benefits the party making the payment.

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20
Q

What does CPD stand for?

A

Continued Professional Development

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21
Q

How do you record CPD?

A

Can be recorded on the RICS’ website or app

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22
Q

How do you define between informal and formal CPD?

A

Informal – self managed learning like private study, informal seminars

Formal – structured learning with objectives and outcomes like course etc.

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23
Q

How will you go about selecting your CPD?

A
  • Consider weak areas which limit my knowledge
  • Consider hot topics etc.
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24
Q

How do you keep up with topical issues?

A
  • Modus in the first instance
  • On mailing lists of CPD providers
  • Read construction news
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25
Q

What tool is available to decide if CPD is formal or informal?

A
  • CPD decision tree
26
Q

What is Lion Heart?

A
  • LionHeart is a charity for RICS professionals, past and present, and their families.
  • Supports wellbeing, financial support, counselling and your career for example.
27
Q

What is RICS Matrics?

A
  • A network which supports new members entering the profession
  • Run award ceremonies like ‘Young Surveyor of the Year’
28
Q

What is the RICS black book?

A

A suite of guidance notes that define good technical standards for QS’

29
Q

Is there any RICS guidance on Conflicts of Interest?

A

Conflicts of interest, 1st Edition, March 2017

30
Q

What is a conflict of interest?

A
  • A situation where there many be an actual, perceived or potential risk that the professional judgement of the RICS member will be compromised when undertaking an assignment.
31
Q

Can you name 3 types of conflict outlined in the 2017 professional statement?

A
  1. Confidential Information Conflict – the need to give one information to one client and the need to keep that same information confidential to anther client. Can I pass the information on or not?
  2. Own Interest Conflict – Acting in the interests of a client, but those interests conflict with the RICS member/firm
  3. Party Conflict – Acting in the interests of a client but those interests conflict with the duty of a client.
32
Q

What Bye Laws are you aware of?

A
  • Over taken by the rules and regulations but an example of a bye-law is:
  • B2 - Every member shall conduct himself in a manner befitting membership of RICS.
  • Bye-Law 5.1 - Rules of conduct apply to all members
33
Q

What is Modern Slavery?

A
  • It is the illegal exploitation of people for personal or commercial gain
  • Covers sexual exploitation, criminal exploitation, organ harvesting, forced labour
34
Q

What is the Modern Slavery legislation?

A

Modern Slavery Act 2015

35
Q

How would you report Modern Slavery?

A

Call the modern slavery helpline or the police

36
Q

What are the Professional Obligations by RICS members?

A
  1. Must comply with CPD requirements
  2. Must co-operate with the RICS
  3. Must provide all information requested by the regulation and standards board promptly.
37
Q

What are the Professional Obligations by RICS firms?

A
  1. Firms must publish a complaint handling procedure
  2. Must co-operate with the RICS
  3. Must provide all information requested by the regulation and standards board promptly.
  4. In the death or absence of a director, the business should continue to run.
38
Q

How does the RICS ensure that standards are upheld?

A
  1. The Rules of Conduct
  2. Rules of conduct apply to all members and firms
  3. The Rules of conduct are based on honesty, integrity, competence, service, respect and responsibility.
39
Q

Provide some example behaviours of when you comply with Rule 1 (honest and act with integrity)

A
  1. By not misleading anyone
  2. by identifying conflicts of interests
  3. By being transparent with fees etc.
  4. By not taking unfair advantage
  5. By not facilitating any financial crimes
40
Q

Provide some example behaviours of when you comply with Rule 2 (maintain professional competence)

A
  1. Only undertake work I have the skills to complete
  2. By ensuring that any colleagues or employees have the necessary skills/knowledge to do the job diligently
  3. To reflect upon the work, I have undertaken and the impact
  4. Stay up to date with all relevant legislation.
41
Q

Provide some example behaviours of when you comply with Rule 3 (good quality diligent service)

A
  1. By understanding clients needs and objectives
  2. Agreeing the scope of services, limitations and timescales
  3. communicate clearly in a way everyone can understand
  4. Have a good quality assurance process in place
42
Q

Provide some example behaviours of when you comply with Rule 4 (encourage diversity and inclusion)

A
  1. Always treat others how I wish to be treated
  2. Not bullying or victimising others
  3. Check that the supply-chain is not involved with Modern Slavery
  4. Work cooperatively with others.
  5. Always develop and inclusive culture where I can.
43
Q

Provide some example behaviours of when you comply with Rule 5 (take responsibility)

A
  1. Support anyone who has acted in good faith to report concerns
  2. Ensure complaints are responded to promptly
  3. Manage finances responsibly
  4. Do not dissuade complaints from approaching the RICS or ADR.
44
Q

Why do the RICS publish Guidance notes and do you have to follow them?

A
  • Guidance notes outline best practice and provide advise to surveyors on how to complete certain activities.
  • Guidance notes should be followed - members should remain competent. If I guidance note was not followed and a surveyor was taken to court, the court will see if the GN has been followed and whether the member acted competently.
45
Q

How do you act with integrity?

A
  1. By being trustworthy
  2. By being open and transparent
  3. By not taking advantage
  4. Not offering or accepting gifts or hospitality.
46
Q

Why must you act within your competence?

A

To ensure that I advise clients accurately and do not open myself up to a negligence claim.

47
Q

How do you take responsibility?

A
  1. Be accountable for my actions
  2. Act with skill, care and due diligence
  3. Always stand up and respectfully challenge others when I feel that something is not right.
48
Q

How do you treat others with respect?

A
  1. Treat all with politeness and courtesy
  2. Be polite and respectful to clients/ potential clients
  3. Never discriminating against anyone.
49
Q

How do you provide a high level of service?

A
  1. Give clients the best advice and support that I can offer
  2. Act within my competence
  3. be transparent about fees
50
Q

How do you promote trust in the profession?

A
  1. Understanding how my actions affect others and the environment
  2. Fulfilling my professional obligations
  3. Being and acting trustworthy both personally and professionally.
51
Q

What should an individual do to maintain high ethical standards?

A
  1. Maintain CPD
  2. Review actions in and outside of work
  3. Help organisations develop ethical ways of working
  4. Noting any unethical behaviour by addressing others.
52
Q

What can employers do to create an ethical environment?

A
  1. Establish a whistleblowing procedure
  2. Include ethical valuations in performance reviews
  3. Promote CPD
  4. Encourage staff to undertake their APC.
53
Q

What is the role of the Standards and Regulation board?

A

They have responsibility for strategy, policy to the standards, entry and admission to the profession and regulatory functions.

54
Q

Why do you want to be a charted Surveyor?

A
  1. I will get the best guidance, information and support
  2. I will be promoting best practices in the industry
  3. I will be joining a globally recognised professional community.
55
Q

What is an overview of the RICS structure

A
  1. Privy Council
  2. Governing Council - links to regulatory tribunal
  3. Other boards such as - Standards and Regulation board, Management board, Audit Committe etc.
56
Q

what is a conflict of interest?

A

A situation where there is the potential risk that my or any member or firm’s professional judgement may be compromised.

57
Q

What is informed consent?

A

When a party who might be affected by the conflict of interest is aware of the conflict and still agrees to instruct the member.

58
Q

What should you do if a conflict of interest arises?

A

As soon as you are aware, disclose this to the client in writing immediately.

59
Q

Can you give me another example of when you’ve acted with ethics, professionalism and code of conduct in mind?

A
  • Another example is a sub-contractor who offered to take myself and the commercial team out for an all-expenses paid commercial team meal and drinks.
  • I politely explained to the Sub-Contractor that although this was very kind, this constituted to bribery and therefore, could not be accepted.
  • When taking into account the proportionality and timing of this offer, it was right before a final account meeting and therefore, could have been used as leverage in this scenario.
60
Q

Can you tell me about a Net Contribution Clause in PI Insurance?

A
  • A net contribution clause may also be known as a proportional liability clause.
61
Q

Do you know about the RICS dicepline procedures?

A

The RICS Charter and Bye-Laws authorise the Standards and Regulation Board to make Rules about the exercise of disciplinary powers.

These rules are called the Regulatory Tribunal Rules

62
Q

Can you tell me about what actions are taken for less serious offences at the RICS?

A

For less serious complaints/cases -
- where the Regulated Member admits allegations, the Head of Regulation may impose (with agreement) a Regulatory Compliance Order (or Consent Order) to ensure future compliance with the standards. This may include a fine, caution or conditions on the membership of the Regulated Member.

  • Where the Regulated Member does not admit the allegations, but the case may not warrant a hearing, the case may be referred to a Single Member of the Regulatory Tribunal to determine the disciplinary outcome (which may include expulsion).

QS APC (23 decks)

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