Ethics, Rules Of Conduct And Professionalism Flashcards
What are the 5 rules of conduct for members and firms
- Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
- Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
- Members and firms must provide good-quality and diligent service.
- Members and firms must treat others with respect and encourage diversity and inclusion.
- 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.
What is professional indemnity insurance?
PI insurance covers individuals, companies and clients from costs that may arise from a claim due to negligence, errors or omissions while providing a professional service.
What is the motto of the RICS?
Est Modus in Rebus - there is measure in all things
What are the rules for the regulation of firms?
They provide surveying services
They work within Regulated Area A (UK)
50% of principles are chartered
What is the minimum level of indemnity for PI insurance?
Based on a companies turnover from the previous year.
£100k or less = £250k
£100,001 - £200k = £500k
Over £200k = £1m
What is the Bribery Act 2010?
Legislation which covers criminal law in relation to bribery.
What are the 6 principles of prevention in the Bribery Act 2010?
- Proportionality
- Top level commitment
- Risk Assessment
- Due diligence
- Communication
- Monitoring and review
What are the offences of bribery?
Bribing another persion
Bribing a public official
Allowing yourself to be bribed
Failure to prevent bribery as a business
What is the RICS Black Book?
A set of best practice standards and guidance notes for QS professionals.
Can you name some of the documents within the Black Book?
Retention
Extensions of Time
Valuing Change
e-tendering
Cost Reporting
Final Account procedures
