Ethics, Rules Of Conduct And Professionalism Flashcards
When was the RICS founded?
1868
When was the RICS founded?
1868
RICS has a royal charter, when was it granted?
1881
RICS has a royal charter, when was it granted?
1881
How many RICS Members and what are levels of membership?
140,000 qualified and trainee members
1.FRICS
2.MRICS
3.AssocRICS
4.Trainee/Student
How do you become a FRICS
FOUR fellowship characteristics
- Five or more years MRICS
- A leadership role
- Professional/ technical achievement
- Raising profile of RICS
What is the role of Governing Council of RICS?
Has over 20 members and provides management and strategic direction
Who is the current CEO of RICS?
Justin Young
How many specialist professional groups are there?
17 including property, land and construction ruin and more! Each group has an elected board outlining standards
What is the Role of the RICS?
To promote and enforce the highest professional qualifications and standards in development and management of land, real estate, construction and infrastructure (RICS 2020)
Who is the RICS accountable for
Both members and wider public
What are the tree main roles of RICS?
- To maintain the highest standards of education and training
- To protect consumers through strict regulation of professional standards
- To be the leading source of information and independent advice on land, property, construction and associated environmental issues (RICS 2015)
What was the purpose of the Bichard Review?
Clarify the purpose of RICS, including its responsibility to act for the public advantage; make recommendations on its governing structure to deliver that purpose.
Make recommendations to the incoming leadership.
When was the Bichard Review reported
June 2022
How many recommendations were made in how many key areas within the Bichard Review
36 recommendations in 7 key areas
Name examples of 7 key areas of recommendation in the Bichard review
- Increased focus on public interest
- Maintaining self regulation
- Increased focus on DEI
- Greater support for regional boards and younger members
- Independent review of governance every 5 years
- Simplified governance structure
- Showing greater leadership on key issues including sustainability
Current President
Tina Paillet - position also chairs the Governing Council
What are the 5 benefits to being a member of RICS?
- Status
- Recognition
- Market advantage
- Knowledge
- Network
What are the 5 RICS future foundations published following the Bichard review?
- Vision
- Mission
- Strategic Goals
- Values
- A world class organisation
Name items that the RICS Rules for the regulation of firms 2022 states
If 50% principals in the firm are MRICS then must be regulated.
If 25% principals are MRICS then firm can apply to be regulated
Each firm must have a responsible principal
Information required by the RICS for registration
Type of business and staffing details
Name of responsible principal
Statutory regulated activities
Nature of clients
Complaints handling procedure
PII details
Whether the firm holds client money
What are the five RICS rules of conduct (2021)
Rule 1: honesty
Rule 2: competency
Rule 3: service
Rule 4: respect
Rule 5: responsibility
What does Appendix A of Rules of conduct set out?
“Professional obligations” to be followed by members and firms
RICS member must do what to comply with professional obligations in appendix A or Rules of conduct 2021?
- Comply with the CPD requirements set by
RICS - Cooperate with RICS
- Promptly provide all information reasonable requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf
Under appendix A of rules of conduct 2021 what do RICS regulated firms have to do?
- Publish a complaints-handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log
- Ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS
- If having a sole principal, make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work
- Cooperate with RICS
- Promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf
- Display on their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS
7.Report to RICS any matter that they are required to report under the Rules for the Registration of Firms
What is the role of the RICS Regulation Confidential Hotline?
Assist members with any ethical issue
Is there RICS guidance on social media?
Guidance for RICS members, 2021
RICS May investigate some posts for a number of reasons, discrimination etc.
