Ethics, Rules of Conduct and Professionalism Level 1 Flashcards
Why do you want to become a member of RICS?
I find great satisfaction and achievement in the work I do.
Becoming a Chartered Surveyor will enable me to further develop my career, expand my skills, and contribute to maintaining the highest professional standards.
What are the roles of RICS?
-Advancing the highest ethical and technical standards.
-Protecting and providing benefits to consumers by enforcing standards and codes of best practice
-providing impartial expert advice to governments, business and the public
-equipping RICS members with advice, market insight and training.
What is a Royal Charter?
It is a formal grant issued by a monarch, it creates public or private corporations and defines their privileges and purpose.
Who is the current RICS president
Tina Paillet FRICS (Jan 24)
Who regulates RICS?
RICS is self-regulated but operates under its Royal Charter. SRB - its regulatory arm.
What do you understand by the term self-regulation?
The Royal Charter means RICS is self-regulated and internally monitored (not regulated by the Government or external parties), through the Bye-Laws and Regulations set by RICS.
SRB carry out Regulation. Royal Charter requires members to promote the profession for the public benefit.
Can you tell me what you understand by the principles of better regulation?
Proportionality
Accountability
Consistency
Targeting
Transparency
What is a Bye-Law?
Enabling principles underpinning rules and regulations and determine how the RICS is regulated.
Can you give an example of a RICS Bye-Law?
Byelaw 1 - Application and Definitions
Bye law no.5 and Regulation no. 5 link to ROC (members and firms) There are 5 Rules of Conduct).
Explain to me the new RICS Rules of conduct, what do they replace?
The previous version had been in place since 2007, the new version is a simpler structure with clear examples.
When do the new rules take effect?
02/02/2022
Who do they relate to?
They relate to not only members/firms of the RICS but also to the public.
What are the 6 Ethical Principles that the rules of conduct are based on?
Based on ethical principles of honesty, integrity, competence, service, respect and responsibility.
How are the RICS Rules of Conduct enforced?
They are enforced through regulatory action for serious breaches, such as investigations or assurance processes, but RICS mainly ensures compliance through support, training, and guidance.
