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RICS > Ethics, Rules of conduct and professionalism > Flashcards

Ethics, Rules of conduct and professionalism Flashcards

1
Q

How do the RICS ensure that standards and quality are maintained in terms of both the conduct and advice provided by chartered surveyors?

A

RICS has rules of conduct for members and firms.

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2
Q

Please give your opinion on why the RICS have rules of conduct?

A
  • Consistency of service and approach, maintaining professional standards, governance and regulation.
  • Rules will help members to act in a professional capacity and to deliver a robust, ethical and proper service.
  • Rules maintain and promote the usefulness of the profession for public advantage.
  • Consistency - chartered professions work to the same rules and regulation.
  • The public and RICS expect an MRICS to behave in line with the objectives of the charter and provide clients with the most appropriate advice for their circumstances.
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3
Q

What are the rules of conduct for members?

A
  1. Interpretation
    Refers to full and non-chartered members.
  2. Communication
    RICS will communicate with members by any of the following:
    - Post
    - Fax
    - e-mail
    - Telephone
    - In person.
  3. Ethical behaviour
    Members shall at all times act with integrity and avoid conflicts of interest and avoid any actions or situations that are inconsistent with their professional obligations.
  4. Competence
    Members shall carry out their professional work with due skill, care and diligence with proper regard for the technical standards expected of them.
  5. Service
    Members shall carry out their professional work in a timely manner and with proper regard for standards of service and customer care expected of them.
  6. Continuing Professional Development (CPD)
    Members shall comply with RICS requirements in respect of continuing professional development.
  7. Solvency
    Members shall ensure that their personal and professional finances are managed appropriately.
  8. Information to RICS
    Members shall submit in a timely manner such information, in such form, as the standards and Regulation Board may reasonably require.
  9. Co-operation
    Members shall co-operate fully with RICS staff and any person appointed by the Regulatory Board.
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4
Q

What are the rules of conduct for firms?

A
  1. Interpretation
  2. Communication
    RICS will communicate with members by any of the following:
    - Post
    - Fax
    - e-mail
    - Telephone
    - In person.
  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
    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 complaint handling procedure and maintain a complaints log. The complaints handling procedure must include an Alternative Dispute Resolution (ADR) mechanism that is approved by the Regulatory 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 Regulatory Board.
  10. Advertising
    A Firm shall promote its professional services only in a truthful and responsible manner.
  11. Solvency
    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 Regulatory 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, in such form, as the Regulatory Board may reasonably require.
  15. Co-operation
    A Firm shall co-operate fully with RICS staff and any person appointed by the Regulatory Board.
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5
Q

You attend a work social event and witness two junior colleagues acting in a way that could bring the firm into disrepute. What should you do?

A

Try to speak to your colleagues immediately and address their actions formally in work.

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6
Q

RICS Professional standards - What are the types of standards and what is their status?

A

Professional Statements:
These contain ‘musts’ - our mandatory requirements, along with details of regulatory interventions if these requirements are not met.
Guidance Notes:
These contain ‘shoulds’ - non-mandatory requirements, but recommendations of best practice on undertaking given tasks.
Assessment of Professional Competence (APC):
These are the requirements and guidelines relating to entry into the profession.
Data Standards:
These ensure software programmes and technology can adopt RICS standards into their offering.

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7
Q

Why do we have guidance notes, do you have to follow them?

A

Guidance notes outline best practice within the profession and provide advice to surveyors on how to complete certain activities. They should be followed; members should remain up to date to ensure they are competent. If there is ever a professional negligence claim and a member has not followed a guidance note, the courts may review these to determine whether the member has acted competently.

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8
Q

What is the RICS ‘Black Book’?

A

The ‘Black Book’ is a suite of guidance notes that defines good technical standards for quantity surveying and construction professionals.

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9
Q

What is the status of the professional statement? What sanctions may RICS take if you fail to apply it?

A
  • The document provides members with mandatory requirements or a rule that a member or firm is expected to adhere to.
  • It will say that a member must do something to signify that it is mandatory. If you do not comply, you can be given a written as a caution or if the case is severe, you can be expelled from RICS membership.
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10
Q

What are the 5 ethical standards?

A
  • 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.
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11
Q

Can you explain how you act with integrity?

A
  • Being trustworthy in all that I do.
  • Being open and transparent in the way I work.
  • Respecting confidential information.
  • Not taking advantage.
  • Not allowing bias, conflict of interest or the undue influence of others to override my decisions.
  • Not offering or acceptance gifts, hospitality, or services, which might suggest an improper obligation.
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12
Q

Can you explain how you take responsibility?

A
  • Be accountable for all my actions.
  • Always act with skill, care and diligence.
  • Ensure an appropriate complaint handling procedure is in place in the event somebody makes a complaint about me.
  • If I think something is not right, I am prepared to respectfully challenge and raise the matter with colleagues.
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13
Q

Why must you act within your professional capabilities?

A

To ensure I do not advise my clients incorrectly which could lead to a complaint or claim of negligence.

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14
Q

Can you explain how you treat others with respect?

A
  • I treat everyone with courtesy, politeness and respect.
  • I always polite and considerate to clients, potential clients and everyone else.
  • I never discriminate against anyone for any reason.
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15
Q

Can you explain how provide a high standard of service?

A
  • I always ensure my client, or others to whom you have a professional responsibility, receive the best possible advice, support, or performance of the term of engagement I have agreed to.
  • Acting within my scope of competence.
  • Be transparent about fees and any other costs or payments such as referral fees or commissions.
  • Communicate with my client in a way that will allow them to make informed decisions.
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16
Q

Can you explain how provide promote trust in the profession?

A
  • Understanding how my actions will affect others and the environment.
  • Fulfilling my obligations.
  • Always trying to meet the spirit of my professional standards and not just the letter of the standards.
  • Acting in a trustworthy manner in both my professional and private life.
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17
Q

Explain what an individual should do to maintain a high ethical standard in their profession?

A
  • Keep their own actions under review, in side and outside of work.
  • Maintain a level of knowledge and training appropriate to their area of work.(laws, regulations, money laundering for example).
  • Maintain CPD.
  • Follow advice given by professional bodies on ethical behaviour.
  • Help their own organisations to develop ethical ways of working.
  • Noting any unethical behaviour by others and address where appropriate.
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18
Q

What should employers do to create an ethical environment?

A
  • Establish confidential procedures for ‘whistle blowing’, independent of the normal chain of command.
  • Include ethical evaluations into formal performance appraisals.
  • Include ethical standards into employee hiring, employment contracts and training.
  • Make sure there is adequate planning, training and ethical performance monitoring when implementing change.
  • Become chartered with RICS.
  • Promoting CPD in the relevant area.
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19
Q

What tools are available to help members make ethical decisions?

A

Decision Tree

page number:- 16 (31 question)

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20
Q

Why is it important to act with integrity?

A
  • I am representing both myself and the profession and want others to view me in the best possible light.
  • Acting with integrity is also one of the 5 ethical standards.
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21
Q

What is the difference between ethics and integrity?

A
  • Ethics are moral principles that govern a person’s behaviour or the conducting of an activity.
  • Integrity is the quality of being honest and having strong moral principles.

Put simply, ethics looks at the big moral picture while integrity is focused on personal characteristics.

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22
Q

What sort of decision would you consult the tree about?

A
  • The decision tree provides step-by-step practical advice on how to deal with any ethical issue that you might face as a professional.
  • You can take certain steps and ask questions to ensure that you deal with potentially difficult situations in an objective and measured manner.
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23
Q

What are the key areas where ethics are important?

A

Matters related to:

  • Gifts, bribes, hospitality and inducements.
  • Equal opportunity, discriminiation and sexual harassment.
  • Conflicts of interest.
  • Insider dealing, money laundering, disclosure of confidential information, financial transactions and fair competition.
  • Whistle blowing in case of anyone raise an unethical issue.
  • Copyright and ownership of files.
  • Standards in advertising.
  • Environmental protection, relations with local communities, political and social behaviour.
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24
Q

After receiving inside information about a competitor’s quote, you consider altering your terms to win a commission. You realise that you may be promising more than you can deliver. What are the key points you should consider?

A
  • Potential conflict of interest (include information of a competitor’s quote).
  • Not working to the ethical standards by promising more than you can deliver (providing a high standard of service).
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25
Q

What preconditions does a firm need to meet to be ‘Regulated by RICS’?

A
  • Offer professional services in surveying disciplines to professional, corporate, institutional and other clients who rely on such services.
  • Have at least 25percentage principals ( a senior manager, partner, or owner), who are qualified RICS Professionals (MRICS, FRICS, AssocRICS).
  • Agree to observe and comply with RICS Rules of Conduct for Firms, including working to RICS standards.
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26
Q

Once a firm has been registered for regulation, what does the firm need to do to comply?

A
  • Comply with the Rules of Conduct for Firms.
  • Act in accordance with the obligations set out in RICS Royal Charter and byelaws.
  • Inform the Head of Regulation of any finding against it by any disciplinary or regulatory body, court, or statutory authority.
  • Inform the Head of Regulation of any finding of insolvency against the firm.
  • Notify the Head of Regulation within seven days if there is a material change regarding the firm and provide full details.
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27
Q

What is a locum?

A

A firm which has a sole principal (a sole practitioner or a sole director in a corporate practice) to have in place appropriate arrangements in the event of that sole principal’s death or incapacity or other extended absences. A locum is effectively another professional who is appointed to ‘stand in’ for the surveyor if they are unable to work.

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28
Q

What are the insurance requirements for RICS regulated firms?

A

RICS regulated firms must have professionals indemnity insurance (PII) that meets RICS minimum requirements. Alongside PII you will also need:

  • Public liability.
  • Buildings insurance.
  • Employer liability cover.
  • Directors and officer’s cover.
  • Contents insurance.
  • Business interruption insurance.
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29
Q

What does CPD stand for?

A

Continued Professional Development.

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30
Q

What are the CPD requirements for chartered surveyors?

A
  • All members must undertake a minimum of 20hrs each calendar year.
  • At least 10hrs must be formal CPD.
  • All members must maintain a relevant and current understanding of RICS professionals and ethical standards during a rolling three-year period.
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31
Q

How is CPD recorded?

A
  • Can be recorded on the RICS website or by the app.

- Members must record their CPD activity online by January 31st every year.

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32
Q

How do you define between formal and informal CPD?

A

Formal - Structured learning that has clear learning objectives and outcomes:
- Professional training course.
- Structured online training.
- Learning that includes an assessment measure.
Informal - Self-managed learning that is relevant or related to your professional role:
- Private study.
- On-the-job training.
- Attendance to informal seminars or events.

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33
Q

What sort of professional development have you done during your training period?

A
  • In house training courses.
  • External training courses.
  • Personal reading of relevant articles
  • Mock final assessment interviews.
  • Seminars and lectures.
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34
Q

How will you go about selecting CPD subjects over the next 12 months?

A
  • Consider weak and limited areas of my knowledge.
  • Consider ‘hot topics’ that may be relevant for the next 12-18 months.
  • Consider future projects and/or project requirements.
    I will target my CPD to develop knowledge in these areas.
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35
Q

How do you keep up to date with topical issues?

A
  • RICS website and journals.
  • I am on the mailing list for CPD providers.
  • Discussions with colleagues.
  • I regularly read construction related news.
  • I keep in touch with my employer’s research & development team.
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36
Q

Can you accept a gift from the client or contractor?

A
  • I would not accept gifts, hospitality, or services, which might suggest an improper obligation.
  • However, gifts and hospitality can be accepted in some circumstances the key is to consult the ethics decision tree and make an informed decision.
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37
Q

What things would you consider when assessing if a gift is appropriate?

A
  • What is the value of the gift or hospitality?
  • Is the gift or hospitality offered at an appropriate time? Is the offer presented just before tender award for example?
  • Is it proportions to the working relationship?
  • Will the gift effect my ability to act impartially?
  • It is proportionate to gifts being offered to others?
  • Who is the gift or hospitality being given to? Is it just one person or a range of people from different organisations?
  • Is it in line with the RICS ethical standards?
38
Q

Can you explain what a conflict of interest is?

A

A conflict of interest is anything that impedes an individual’s or firm’s ability to act impartially and in the best interest of a client.

39
Q

Has RICS published any information on conflicts of interest?

A
  • Conflicts of interest RICS professional statement, March 2017.
  • The professional statement became effective January 2018.
40
Q

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

A

Party Conflict:

A situation

41
Q

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

A

Party Conflict:
A situation in which the duty of an RICS member or firm, acts in the interests of a client on a professional assignment, conflicts with a duty owed to another client. (Acting for both a developer and contractor on the same project).
Own interest conflict:
A situation in which the duty of an RICS member or firm, acts in the interests of a client in a professional assignment, conflicts with the interests of the same RICS member/firm.
Confidential information conflict:
A conflict between the duty of an RICS member or firm, to provide material information to one client and the duty of that RICS member/firm to another client to keep that same information confidential.

42
Q

Can you give examples of a conflict of interest?

A
  • Acting for both a developer and contractor.
  • Acting for two competing developers/contractors.
  • Have other obligations or pressures that detract you from or affect your relationship with the client (e.g., acting as an expert witness where you/your firm has an interest in the outcome of the proceedings).
43
Q

What is informed consent?

A

This is where an RICS member has highlighted to all parties who are or may be affected that there is a conflict of interest or risk of a conflict of interest, but those parties willingly give consent to them continuing in their role. This can only be sought once the RICS member is satisfied that proceeding is:

  • In the interests of all those who are or may be affected.
  • Is not prohibited by law.
44
Q

What action should you take if a conflict of interest arises?

A

As soon as you are aware, disclose to client in writing, the possibility and nature of conflict. Advise client in writing you cannot continue to represent unless:

  • Parties feel they can act 100percentage impartiality.
  • The client finds it acceptable and approves, in writing, the specific conflict handling arrangement put in place (informed consent).
45
Q

You are instructed to work on a proposed development that would require the removal of a nature reserve. You have very strong views on protecting the environment. what should you do?

A
  • Ask myself the question ‘could I work on the project without bias?’
  • Notify the client of a potential conflict of interest.
  • I may need to respectfully decline the commission and offer up somebody else in the business who could work on the commission without bias or conflict of interest.
46
Q

What is a bribe?

A

An inducement or reward offered, promised, or provided to gain any commercial, contractual, regulatory, or personal advantage.

47
Q

What is the Bribery Act 2010?

A

The Bribery Act 2010 covers criminal law relating to bribery. The Act contains four main bribery offences:

  • General offence of bribing
  • General offence of being bribed
  • Offence of bribing a foreign public official
  • Corporate offence of failing to prevent bribery by persons associated with relevant commercial organisations.
48
Q

What are the 6 principles of the Bribery Act?

A
  • Proportionality - The action taken should be proportionate to the risk and the size of the organisation.
  • Top Level Commitment - Those in senior positions are best placed to ensure the organisation conducts business without bribery.
  • Risk Assessment - Many organisations will have little or no risk of bribery, but a risk assessment will show the nature or extent of exposure to bribery.
  • Due Diligence - This is about having a risk-based approach to business relationships - with those you deal with or who provide services for you.
  • Communications - Employers will need to communicate their policies and procedures to staff and others who perform services, additional training may help raise awareness (proportionate to the size and type of organisation).
  • Monitoring and Review - Risks to your organisation may change, over time you may want to carry out regular reviews and re-assessments.
49
Q

Who does the Bribery Act 2010 apply to?

A

The Bribery Act 2010 applies to people in both the private and public sector.

50
Q

What is your position for compliance with the Bribery Act?

A
  • My company has an anti-bribery and corruption policy which applies to me as an employee, I strictly follow the procedures in the policy.
  • I would report any act of bribery to the Serious Fraud Office or National Crime Agency.
51
Q

What are the potential consequences for not adhering to the Bribery Act?

A
  • There is a maximum penalty of 10 years imprisonment and/or an unlimited fine for individuals.
  • Corporates face an unlimited fine.
52
Q

What is money laundering?

A
  • Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source.
  • Money from the criminal activity is considered dirty, the process “launders” it to make it look clean.
53
Q

What do you do if you suspect money laundering?

A
  • Raise the matter with my director.

- Submit suspicious activity report (SAR) to the National Crime Agency.

54
Q

What regulations are associated with money laundering?

A

The Money Laundering and Terrorist Financing (Amendment) Regulations 2019.

55
Q

A client ask you to take responsibility for making interim payments to the contractor. The client gives you half a million pounds in cash to make the payments. What would you do in this situation?

A
  • I would not accept the cash; I would encourage the client to pay the cash into a bank account (the responsibility falls onto the bank to check the legitimacy of the cash).
  • If I had concerns about the source of the money (from an illegal activity for example), I would report to the National Crime Agency.
56
Q

What is corruption?

A
  • Corruption is a form of dishonesty or criminal offense undertaken by a person or organisation entrusted with a position of authority.
  • Usually, to acquire illicit benefit or abuse power for one’s private gain.
57
Q

What is a price fixing cartel?

A

A group of formally independent procedures (of goods or services) whose goal is to increase their collective profits by pushing the price of a product as high as possible (fix prices).

58
Q

What is terrorist financing?

A

The solicitation, collection, or provision of funds with the intention to support terrorist acts or organisations.

59
Q

What is a facilitation payment?

A

A payment made to a public or government official that acts as an incentive for the official to complete some action or process expeditiously, to the benefit of the party making the payment.
- For legal purposes, it is distinguished from bribery, although the distinction is often blurred.

60
Q

What is modern slavery?

A
  • Modern slavery is the severe exploitation of other people for personal or commercial gain.
  • People being forced to works against their will or illegally.
61
Q

What is the relevant legislation?

A

Modern Slavery Act 2015.

62
Q

Can you give some examples of modern slavery?

A
  • Forced Labour - any work or services which people are forced to do against their will under the threat of some form of punishment.
  • Debt bondage or bonded labour - the world’s most widespread form of slavery, when people borrow money, they cannot repay and are required to work to pay off the debt.
  • Human trafficking - involves transporting, recruiting, or harbouring people for the purpose of exploitation, using violence, threats, or coercion.
  • Child Slavery - It occurs when a child’s labour is exploited for someone else’s gain. It can include child trafficking, child soldiers, child marriage and child domestic slavery.
  • Forced and early marriage - when someone is married against their will and cannot leave the marriage. Most child marriages can be considered slavery.
63
Q

Wow would you report modern slavery?

A

Report to the Home Office or call the modern slavery helpline.

64
Q

Has RICS published any information on PII requirements?

A

Professional indemnity insurance requirements, this regulation and therefore mandatory.

65
Q

What is PI insurance?

A
  • An insurance product designed for professional firms and people which covers them in the event of certain errors made during their business.
  • The policies available mainly cover professional negligence, errors or omissions, breach of professional duty and civil liabilities.
66
Q

What does RICS say about PI insurance for firms?

A

All firms must be covered by PI insurance.

67
Q

What are the reasons PI insurance is needed?

A
  • Ensure that if the firm faces a claim, it is protected from financial loss that it cannot meet from its own resources.
  • Protect the insured member or firm against the consequences of its liability to pay damages to third parties for breaches of professional duty that it commits through its professional activities.
  • Ensure that the firm’s clients do not suffer financial loss, which the firm cannot meet.
68
Q

What is the difference between an ‘any one claim’ and an ‘aggregate’ policy?

A
  • ‘Any one claim’ and ‘aggregate’ refer to the basis of cover on a professional indemnity policy.
  • An ‘any one claim’ policy provides cover up to the full limit for each individual claim made in the period of insurance, where as an ‘aggregate’ policy provides cover up to the full limit for all claims made in the period of insurance.
    Working Example:-
  • If two 75,000 claims are made against a 100,000 any one claim professional indemnity policy, the insurer would cover the costs of both claims, as they are both under the 100,000 limit.
  • If two 75,000 claims are made against a 100,000 aggregate professional indemnity policy, the insurer would only pay up to the 100,000 limit. As the claims total 150,000, the remaining 50,000 would need to be covered by other means.
69
Q

Tell me about Merrett v Babb? (Court Case in 2001)

A
  • Babb had done a valuation as an employee of a company for a house purchased by Merrett.
  • Valuation later found to be negligent.
  • The original company no longer existed and the PII had been cancelled.
  • Court ruled Merrett could pursue the individual-Babb-for the losses.
70
Q

What are the minimum limits of indemnity?

A

Pg: 25 (82Q)

71
Q

What is the maximum level of uninsured excess (the part of each claim the firm must pay itself)?

A

Pg: 25 (83Q)

72
Q

What measures should be taken to avoid PII claims?

A
  • Keep full and detailed records of meetings, conversations etc.
  • Record recommendations and advice given.
  • Use proper letters of engagement, appointment contractors and follow the scope of service.
  • Do not advice on a specialism outside your field of experience/knowledge.
  • Follow RICS guidance and professional statements.
  • Avoid poor management and excessive workloads.
  • Follow RICS rules of conduct.
  • Follow company procedures and policy.
73
Q

If you make a mistake in your cost plan, what would your insurance company expect?

A
  • To notify them asap.
  • Comply with any conditions / procedures set out in the insurance policy.
  • Advise the client.
  • Assess the level of mistake and take steps for correcting.
74
Q

Assuming you are MRICS, how would you deal with the following situation…… A friend asks for your help on a private house extension, they ask for technical advice, for free, outside business hours?

A
  • My firm’s professional indemnity insurance would not cover me for private advice; therefore, I would politely decline to provide.
  • I would also need to consider a potential conflict of interest (working for a friend).
  • I would suggest the friend contacts the firm I work for, in business hours, to discuss a potential commission.
75
Q

What is PI insurance run-off cover?

A

‘Run-off’ is a form of professional indemnity insurance which covers the historic liabilities of a business after it ceases to trade. Any claims made under the policy will relate to work carried out before trading stopped, so it covers legacy issues.

76
Q

How long should run-off cover be in place?

A

RICS would expect run-off on this basis to be maintained for a minimum period of 6years from the cessation of the practice.

77
Q

What is the Royal Charter?

A
  • Awarded in 1881 by Queen Victoria.
  • The Royal 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 the constitution - its bye-laws - must be ratified by the UK Government, through the Privy Council.
78
Q

Where are the RICS international headquarters located?

A

12 Great George Street, Parliament Square, London.

79
Q

What is the motto of the RICS?

A

‘Est modus in rebus’ there is measure in all things.

80
Q

What is the RICS?

A
  • Royal Institution of Chartered Surveyors.
  • The world’s leading professional status in land, real estate, infrastructure and construction.
  • One of the most respected and high-profile international institutions that offers advice on property, construction, project management, dispute resolution and environmental issues to various clients and the public.
81
Q

What is the Role of the RICS?

A
  • Regulate and promote the profession.
  • Maintain the highest educational and professional standards.
  • Protect clients and consumers through a strict code of ethics and professional standards.
  • Provide impartial, advice, analysis and guidance.
82
Q

What is lionheart?

A
  • Lionheart is an independent charity run by RICS professionals, for RICS professionals.
  • Benevolent fund established over 100 years ago.
  • Offers advice and in certain circumstances financial assistance.
  • It is independent to the RICS.
  • Provides support to current and past members of the RICS and their families.
83
Q

What was the Carlsberg Report, 2005?

A
  • Carlsberg was invited to carry out a review of the RICS regulatory framework.
  • The reasons for wanting a review were both external and internal. Several reviews of others professional bodies suggested that public expectations had changed and there was some evidence that members were unhappy with some aspects of RICS regulation.
84
Q

What are the RICS’5 principles of better regulation?

A
  • Accountability.
  • Consistency.
  • Proportionality.
  • Targeting.
  • Transparency.
85
Q

What benefits for RICS membership/ why did you want to be an MRICS?

A
  • RICS is the largest international property organisation in the world. By joining I will get global recognition and will become part of an international professional community.
  • I will get elite professional status, guidance, information and support.
  • Technical resources to support my profession.
  • I will be part of promoting best practices in the profession.
  • Benefit to our clients.
86
Q

Can you give me an overview of the RICS governance structure?

A

Privy Council (Charter Status) , Governing Council, Regulations and standards board, Management Board.

Then under the management board world regions board, market advisory boards; audit committee, risk assurance; Nomination and remuneration committee are there.
Under standards and regulatory board , regulatory tribunal will be there.

87
Q

Who is the Governing Council?

A

The Governing Council set strategy, direction and manages the royal charter obligations.

88
Q

What is the RICS Matrics?

A

RICS Matrics aims to help those who have just joined the profession by providing a network for those to connect between and providing training opportunities to students, trainees and those newly qualified.

89
Q

What is ethics?

A

Set of moral Principles governing or influencing conduct.

90
Q

What are the RICS Pathways/Faculties?

A 
There are 22 pathways as follows;
There is a wide range of pathways available to qualify as an RICS member, covering following areas of practice. Each pathway defines the set of competencies that you need to achieve in order to become a chartered surveyor.
1. Building Control
2. Building Surveying
3. Commercial Real Estate
4. Corporate Real Estate
5. Environmental Surveying
6. Facilities management
7. Geomatics
8. Infrastructure 
9. Land and Resources
10. Management Consultancy
11. Minerals and Waste Management
12. Personal Property/Arts and Antiques
13. Planning and Development
14. Project Management
15. Property Finance and Investment
16. Quantity Surveying and Construction
17. Research
18. Residential
19. Rural
20. Taxation Allowances
21. Valuation
22. Valuation of businesses and intangible assets.

RICS (16 decks)

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