Ethics, Rules of conduct and Professionalism Flashcards
Name the 5 RICS Codes of Conduct
Members and Firms must….
1.) Act with honesty, integrity and comply with their professional obligations, including obligations to RICS
(Honesty, Integrity, comply with Prof obligations)
2.) Must maintain professional competence and ensure that services are provided by competent individuals who have the necessary expertise
(Professional competence)
3.) Good quality and diligent service
4.) Treat others with respect and encourage diversity and inclusion
(Respect, diversity, inclusion)
5.) Act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession
(Public interest, responsibility and public confidence)
When was the RICS ethical standards updated and what were the changes
•02.02.22
•Clear examples
•Focusing on respect, diversity and inclusion
•Simpler structure
•Clear examples
•Tackling global challenges
What is the Bribery act 2010
Affects situations where- giving someone financial or other advantages to encourage that person to perform their functions/sway decisions
What is the G+S Complaint handling Procedure (CHP)
3 Stage process.
1.) Speak to the local office the complaint relates to
2.) Complaint in writing, firm to acknowledge within 7 days and respond within 28 days
3.) Unable to resolve complaint, opportunity to take the complaint to independent redress provider as approved by RICS Regulated board
Explain the further steps within a dispute where it may go to the RICS (DRS) Dispute Resolution Service
1.) Arbitration- independent third party looks in to it/ acts as judge
2.) Conciliation- use a conciliator who meets with both parties separately and together in an attempt to resolve the differences
3.) Mediation-Third party comes in to reach a settlement both parties can live with
4.) Adjudication- quick decision within 28 days. Decided by independent adjudicator
Describe “Integrity”
Include virtues such as: honesty, objectivity, conscientiousness etc
Example answer: it can be seen to reflect the higher standards which society expect from professional persons
Explain the reasons for professional codes of ethics
Codes improve ethical decision making
Not the same as rule books-operate at a level of generalisation
Etc etc
Name 3 types of conflicts of interest and define them
Party, Own Interest, Confidential Information conflict
Party conflict- Acting in the interest of a client or another party conflicts with client or other party
Own Interest conflict- conflicts with RICS member or firm
Confidential information conflicts- conflict between RICS member to keep information confidential between them
Name ethical issues business’ may face / should not do
Bribery
Gifts
Nepotism (Giving jobs to family or friends)
Wrongful discrimination
Health and Safety (Don’t be influenced by others)
Whistle blowing-should do this to someone outside you’re normal channels
Explain what Rule 1 means and the example behaviours
Members and Firms should not allow themselves to be influenced improperly through the acceptance of work referrals, gifts or hospitality. Members and Firms must be able to identify conflicts of interest and not provide services or advise where these conflicts of interest occur
Explain what Rule 2 means and example behaviours
Members and Firms must only act for clients where they have the necessary knowledge, skills and resources to carry out the work competently
Explain Rule 3 and example behaviours
As a RICS Member or regulated Firm we must understand specific clients requirements before acting on their behalf. Scope of services should be agreed along with any exclusions and timescales set out before terms of engagement are signed
Explain Rule 4 and example behaviours
Treat others with courtesy. Ensure everyone is treated fairly and look to eliminate any instances of discrimination. Also have a no tolerance on bullying or harassment
Explain rule 5 and example behaviours
Do not undermine public confidence in the profession. Deal complaints well. Act in a way if it came to the medias/public attention you would be satisfied with the way you acted
State the professional obligations for RICS members set out
CPD- 20 hours. 10 Must be formal each calendar year
Must cooperate with RICS
Must provide info reasonably requested by the standards and regulation board, or the exercising body on RICS behalf
