Ethics, Rules of Conduct and Professionalism Flashcards
Rules 1
Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
Rule 1 Example behaviours
Not being improperly influenced by others and being transparent with clients about fees and services.
Rule 2
Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
Rule 2 Example behaviours
Only undertaking work where a Member has the relevant knowledge, skills and resources and undertaking sufficient CPD each year.
Rule 3
Members and firms must provide good-quality and diligent service.
Rule 3 Example behaviours
Understanding clients’ needs and objectives before accepting work and communicating clearly with clients.
Rule 4
Members and firms must treat others with respect and encourage diversity and inclusion.
Rule 4 Example behaviours
Treating others courteously and respectfully and developing an inclusive workplace culture.
Rule 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.
Rule 5 Example behaviours
Managing professional finances responsibly and responding to complaints promptly, openly and professionally.
Appendix A: Professional obligations to RICS - Members
- Comply with the CPD.
- Cooperate with RICS.
- Promptly provide all information to Standards and Regulation Board.
Appendix A: Professional obligations to RICS - Firms
- Complaints Handling Procedure
- Professional Indemnity Insurance
- Sole principal must make appropriate arrangements for professional work to continue in event of death etc.
- Cooperate with RICS.
- Promptly provide all information to Standards and Regulation Board.
- Display business literature - ‘Regulated by RICS’
- Report to RICS any matter required under the ‘Rules for the registration of firms’.
The RICS was formed initially as…
the surveyors club in 1792.
The surveyors’ institution was founded on…
15th June 1868.
Royal chartered gained on…
26th August 1881.
Name changed to The Chartered Surveyors’ Institution on…
27th October 1930.
Name changed to The Royal Institution of Chartered Surveyors on…
3rd July 1947.
Motto of the RICS
‘Est Modus in rebus’ or ‘There is measure in all things’
Useful way to remember 5 rules of conduct…
‘RRICS’ Respect, Responsibility, Integrity, Competence & Service.
When did the new rules of conduct release…
February 2022
Complaint Handling Procedure - What are the time scales for dealing with a clients complaint?
7 Days to acknowledge
21 Days to respond formally with a solution or we’re still dealing with.
Further 21 days…
What are the terms and rules around setting up a regulated firm?
PII
CHP
Handling clients’ money
Who is the current present of RICS?
Tina Paillet
Why do we have rules of conduct?
These rules set out the standards of professional conduct and practice expected of members and firms registered for regulation by RICS.
What is the definition of Ethics
Having a higher standard than just avoiding a certain behaviour or practice because is illegal.
What is the royal charter and when was it granted
handed down by the king in 1881.
Royal charter > 10 bye laws > 10 regulations > rules of conduction
(bye law 5 and regulation 5 – conduct)
What’s the difference between professional statements and guidance notes?
Professional statement is mandatory, and a guidance note is a recommendation/best practice/accepted. This is being changed following the Bichard review to Professional Standards and Practice Information.
RICS professional standards
Set requirements or expectations for RICS members and regulated firms about how they provide services or the outcomes of their actions.
RICS professional standards are principles-based and focused on outcomes and good practice. Any requirements included set a baseline expectation for competent delivery or ethical behaviour.
They include practices and behaviours intended to protect clients and other stakeholders, as well as ensuring their reasonable expectations of ethics, integrity, technical competence and diligence are met. Members must comply with an RICS professional standard. They may include:
mandatory requirements, which use the word ‘must’ and must be complied with, and/or
recommended best practice, which uses the word ‘should’. It is recognised that there may be acceptable alternatives to best practice that achieve the same or a better outcome.
In regulatory or disciplinary proceedings, RICS will take into account relevant professional standards when deciding whether an RICS member or regulated firm acted appropriately and with reasonable competence. It is also likely that during any legal proceedings a judge, adjudicator or equivalent will take RICS professional standards into account.
RICS practice information
Information to support the practice, knowledge and performance of RICS members and regulated firms, and the demand for professional services.
Practice information includes definitions, processes, toolkits, checklists, insights, research and technical information or advice. It also includes documents that aim to provide common benchmarks or approaches across a sector to help build efficient and consistent practice.
This information is not mandatory and does not set requirements for RICS members or make explicit recommendations.
Different types of conflict a surveyor may face?
Party Conflict
Own Interest Conflict
Confidential Information Conflict
Clients’ permission to act on their behalf?
Informed consent.
Who makes final decision if conflict of interest?
Surveyor - you make final decision.
How do you measure your client’s satisfaction?
Verbal, review meeting, KPI, survey.
3 Important rules for regulated firms?
Complaints handling, PII and handling clients’ money.