Ethics, rules of conduct and professionalism Flashcards
What are the RICS Rules of Conduct?
1) Be honest, act with integrity and comply with their professional obligations, including obligations to RICS (if an application for payment has a geniune error, advise contractor)
2) Maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise (stick to your scope and only provide services you have the skill to do)
3) Provide good-quality and diligent service (ensure quality assurances are in place. Peer reviews)
4) Treat others with respect and encourage diversity and inclusion. (provide equal opportunities for everyone. Don’t discriminate or bully)
5) Act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession (respond to complaints quickly and professionally)
What are the professional obligations of members?
- Members must comply with CPD requirements
- Members must co-operate with RICS
- Members must provide all information requested by the Standards and Regulation Board or those exercising authority on its behalf
What are the professional obligations of firms?
- Firms must co-operate with RICS
- Firms must provide all information requested by the Standards and Regulation Board or those exercising authority on its behalf.
- Firms must have a Complaints Handling Procedure in place
- Firms must have appropriate levels of PI in place
- Firms with a sole principle must have a contingency plan in case the sole principle dies
- Firms must display RICS designations on business papers
- Firms must report to RICS any matter that would be deemed necessary with the Standards and Regulations board.
When were the RICS Rules of Conduct changed?
02/02/2022
What is the RICS motto?
Es modus en rebus - there is measure in all things.
What does the RICS provide in order to help maintain professional standards?
- Professional Statements - mandatory requirements.
- Guidance Notes - not mandatory but are recommendations for best practice. (black book)
- APC - requirement for entering the profession.
- Data Standards - making sure you are utilising the best / most suitable technology and software
What is T&T’s Code of Conduct?
- How we work together (Treat others with respect, D&I, Prevention of bullying & harassment, Anti-discrimination, Violence-free workplace, Alcohol & drugs at work, H,S& Wellbeing, Compliance with employment laws)
- How we make a difference in our communities (Human rights, modern slavery, Positive impact on our communities, Environment, Making green choices, Charitable giving)
- How we conduct business with integrity (Anti-bribery, Conflicts of interest, Gifts & hospitality, Preventing tax evasion, Financial sanctions, Respecting privacy)
- How we protect our business (Acceptable use of IT, Social media, Safeguarding information, Use of AI, Accounting standards & internal controls, Anti-fraud, Corporate governance, Communicating with the media)
How do I align myself with T&T’s Code of Conduct?
I treat others with respect, I have taken part in charitable events and been involved in CSR days, I act with integrity, I abide by the anti-bribery & corruption policy
What are the RICS CPD requirements?
APC - 48 hours (24 formal)
Chartered - 20 hours (10 formal)
How would you check if the CPD is formal/informal?
Consult the RICS CPD Decision Tree
What is the RICS black book?
Set of best practice and technical standards to provide guidance to RICS members on undertaking these works.
Can you name a few of the black books?
Cash flow forecasting
Retention
Conflict avoidance, management and dispute resolution
Valuing change
Cost reporting
Extension of Time
Change control and management
What are the 3 types of Conflict of Interest?
- Party Conflict (If you work for two different clients on a matter, where those two clients have conflicting interests, you will be conflicted)
- Own interest conflict (where your own interests are at stake)
- Confidential information conflict (if you are obliged to keep certain information confidential for one party but obliged to reveal the same information to another party)
When was the RICS founded?
1868
When was the Royal Charter granted?
1881 by Queen Victoria
