Ethics, Rules of Conduct and Professionalism L3 Flashcards
Role and significance of RICS and its functions –
- Globally recognised professional body to have a positive change on the built and natural environments.
- Global standards, leading professional progression and data & insight.
- Provides confident markets, better buildings to live and work and positive social impact.
What is RICS? Purpose. Motto. Founded. Countries. Members.
- Royal Institute of Chartered Surveyors.
- Leading global professional body for Land, Construction, Infrastructure and Real Estate .
- Represent individual and firm members and protect clients.
- Est modus in rebus (“There is measure in all things”).
- Founded 1868.
- 146 Countries.
- 118k Members.
Lionheart;
- Charitable foundation setup by RICS
- Supports members faced with challenging times
Matrics –
- Network within RICS supporting and developing young professional members
Royal Charter
- Awarded in 1881 by Queen Victoria.
- RICS required to promote and regulate the profession whilst protecting clients.
- Changes to profession must be ratified by the UK government via the Privy Council.
RICS Headquarters
Parliament Square, London
Why become MRICS –
- Professional credibility by becoming chartered with the most prestigious surveying organisation in the world.
- Provide assurance to clients that their best interests are fundamental to the organisation
What are the RICS Professional & Ethical Standards – (reflection on you, your firm and RICS)
- RISTR
- Respect
- Integrity; Be honest, don’t show bias or act with conflicts of interest
- Service; Advise and communicate openly (fees, scope of services, extent of expertise)
- Trust; Promote the profession positively
- Responsibility; Be accountable, be diligent, question if not right
How do you maintain professional standards?
- Training / CPD – Keep up to date with latest information
- Comply with RICS rules of conduct and guidance notes
How might a firm create an ethical environment?
- Confidential procedures for whistle blowing
- Provide access to relevant information to promote best practice (e.g. Contracts and associated guidance docs)
- Provide regular training to advise on industry changes
RICS Decision tree –
- Guidance on how to act if uncertain on an ethical situation
- e.g. Legal?
- Sufficient facts?
- Complies with rules of conduct?
- Ok if scenario is made public (Internet)
Key Ethical areas
- Gifts, bribes and hospitality
- Discrimination
- Conflicts of interest
- Money laundering
- Confidential information
How do the RICS ensure standards and quality are maintained by members? What are they?
- Rule of Conduct -ESSCCCI
- Ethics
- Service
- Solvency
- Competence
- Co-operation
- CPD
- Information (confidentiality)
Ethical Behaviour
- Act with Integrity
- Avoid conflicts of interests
Competence (Rule of Conduct Members)
- Due skill and care e.g. Checking a scale
- Diligence (comply with technical standards e.g. Quantification approach using NRM2)
Service (Rule of Conduct Members)
- Respond in a timely manner
- Uphold professional standards (Use of latest guidance e.g. NRM1)
- Be clear on extent of expertise (QS - cost advice only e.g. not an expert on planning or structures)
CPD – (Rule of Conduct Members)
- Undertake at least the minimum 20 hours of CPD and submit to RICS
- Keep up to date with industry updates and relevant legislation
- Example of recent change relevant to QS / Construction
Solvency –
- Manage personal and professional finances
- Failure to manage business finances could detrimentally impact on client through sudden loss of service
Information to RICS –
- Submit information to RICS in a timely manner (CPD deadline end of Jan)
Co-operation –
- Co-operate as required with the RICS
- e.g. If client is dissatisfied then you should engage with any info required by RICS / other parties to resolve the issue
Rules of Conduct for Firms:
General (SC)
1. Service
2. Communicate
Conduct of Business (PCCCCSI)
3. Professional Behaviour
4. Competence
5. CPD
6. Complaints
7. Clients’ money
8. Service
9. Indemnity
Admin (DAASIC)
10. Designations
11. Arrangements to cover incapacity or death
12. Advertising
13. Solvency
14. Information
15. Cooperation
Why do the RICS have Rules of Conduct?
- Consistency of service
- maintain standards,
- protect clients,
- framework for advice
What would you do if you attended an event where MRICS colleagues were behaving inappropriately?
- I would remind that that they had a duty to comply with the RICS rules of conduct.
- Could detrimentally impact clients perception of company as well as the RICS.
- Potential loss of chartership status if actions warrant it. e.g. Discrimination, criminal activity
- Report if continued despite advice
RICS Bye-Laws -
- Rules adopted for governance of the members and its regulation
- e.g. Every member shall comply with the Rules of conduct