Ethics, Rules of Conduct and Professionalism Flashcards
What is the background of the RICS
RICS was founded in 1868.
RICS has a Royal Charter, initially granted by Privy Council in 1881.
RICS Regulations and Bye-laws set out the governance of the institution
What are the memberships under the RICS
Over 130,000 qualified and trainee members.
Level of membership
FRICS
MRICS
AssocRICS
Trainee / Student
What are the three main roles of the RICS
To maintain highest standards of education and training.
To protect consumers through strict regulation of professional standards.
To be leading source of information and independent advice on land, property, construction and associated environmental issues.
Five benefits of being an RICS member?
Status
Recognition
Market advantage
Knowledge
Network
What are the five rules of conduct? (HCQRP)
Must be honest and act with integrity, comply with their personal obligations including RICS obligations.
Must maintain professional competency.
Must provide good quality and diligent service.
Must treat other with respect and encourage diversity and inclusion
Must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence.
What are the mandatory professional obligations
RICS members must comply with CPD requirements, cooperate with RICS provide all information requested by standards and regulations boards.
RICS firms must publish complaints-handling procedures which includes ADR.
Ensure work is covered by adequate and appropriate professional indemnity insurance that meets RICS standards.
Cooperate with the RICS.
Who is the current CEO of RICS
Justin Young
Who is the current Scotland’s chairman?
Professor Norman K McLennan
What is the update to the RICS Rules of Conduct?
In Feb 2022 the rules of conduct were updated to replace the old documents to form one single document for members and firms.
When does a conflict of interest arise?
When a member or firms independence impartiality is threatened due to the existence of a conflict between two clients.
What are the three types of conflict?
Party conflict
Own interest conflict
Confidential information conflict
What is the difference between conflict avoidance & conflict management?
Conflict avoidance is when you do not accept the instruction.
Conflict management is when you accept the instruction and steps are agreed and put in place to manage the conflict. Requires written consent from both parties.
