Ethics, rules of conduct and professionalism - lvl 2 Flashcards
How do you ensure that you comply with bribery legislation?
I would consult my firms anti-bribery procedure. I would also have reference to the Bribery Act 2010 and the Ethics Decision Tree and.
I would also consider RICS Professional Statement Countering Bribery, Corruption, Money Laundering and terrorist financing, 2019.
I would record any gifts in the Gift Register as required by my company.
How do you ensure that you comply with money laundering regulations?
PSBCMLTF2019
Do not facilitate, report, evaluate and keep an audit trial.
I would comply with my firms written policy, carry out checks, inform senior person of this.
I have reference to the MLTFREff.2023
How do you ensure that you comply with your firm’s bribery and gifts policy?
I would report all gifts I receive from clients.
Tell me about an instance when you have been offered a gift or hospitality by a client.
I have not been offered a gift or hospitality by a client.
Tell me about what you would do if you felt that an instruction was outside of your scope of experience or knowledge?
I would refer this instruction onto another surveyor within my company who I knew was competent to deal with this matter. If this were not possible I would alternatively refer them onto another surveyor who I knew was competent to carry out the instruction.
Tell me about how you would handle a client complaint.
I would log this onto our internal system. This would then be formally logged on our CHP.
Notify PII as complaint could lead to a case of negligence
Tell me about your understanding of your firm’s process for escalating a complaint to Alternative Dispute Resolution (ADR).
The employee involved would try to address the complaint theirself in the first instance. If the complaint remained unresolved this would refer this onto the person responsible for dealing with complaints.
I would comply with the RICSGNCHP2016. The complaint would have to be acknowedged within 7 days and responded to within 28 days.
Tell me about a conflict of interest check you have carried out.
59 1/2 Southwark Street - I was contacted by a tenant for a rent review on their office. After discussion and reception of the lease I became aware that we were instructed by the same landlord on rent reviews for shop properties in the local area.
This was a potential party conflict. I obtained the informed consent from the client and the landlord to go ahead with the instruction.
If you identified a potential or actual conflict of interest, how could you handle this?
I would obtain the informed consent from the potential client and the other party. This would allow me to go ahead with the instruction.
Lea Bridge Road - how did you carry out your pre-instruction checks?
CIT
Ensure I was competent to carry out the instruction
Ensure I had no COI or had obtained both parties informed consent
Issued and received back signed terms of engagement which included fee terms and reference to our CHP
Lea Bridge Road - How did you formalise your instruction?
By receipt of written signed and dated TOE from my client
Lea Bridge Road - What did your ToE include?
IPVIARCFCML
I - Identification of valuer, client and property
P - purpose of valuation, currency
V - valuation date, bases of value
I - sources of information relied upon, and nature of investigations
A - assumptions and limitations
R - Restrictions
C - Reference to CHP
F - Fee basis
C - Compliance with Red Book Global
M - Subject to monitoring by RICS
L - Areas of limited liability
Why did you not undertake the leasehold valuation?
I am not competent to carry out this type of instruction
How did you ensure you provided a high standard of client care?
Pre instruction checks (CIT), honesty and integrity, open and transparent, consistency, work diligently and respond back to clients within an appropriate timescale.
Reference to five rules of conduct eff. 2022
