ETHICS, RULES OF CONDUCT & PROFESSIONALISM Flashcards
What is the meaning of the RICS Motto?
‘Est Modus in Rebus’ which in Latin translates to ‘There is measure in all things’.
What is the Mission Statement of the RICS?
To qualify and equip their members to offer the highest standards of professional service.
* To promote and enforce standards
* To lead solutions to the major challenges facing the built environment through professional expertise.
When was the RICS founded?
- It was founded in 1868.
How is the RICS Structured?
- The RICS was founded in 1868 with the Royal Charter being granted by the Privy Council in1881.
- The RICS is self-regulated and internally monitored meaning that it is not regulated by the Government
or external parties. - The Bye-Laws determine how the RICS is regulated.
- The Governing council manage and agree the strategy for the RICS.
- The Regulatory board, audit committee and management board are beneath the governing council and
execute the strategy set by them.
What are the RICS’ 5 principles of better regulation?
What are the RICS’ 5 principles of better regulation?
What is the difference between RICS ethics and rules?
- Ethics are a set of moral values.
- Rules of conduct are a framework that we work to
Why did the previous Rules of Conduct change?
- This provided a single document to enable greater clarity for RICS members and firms.
- There is now a greater focus on clearer example behaviors, understanding evolving
technology and tackling climate change
What are the Rules of Conduct?
- Rule 1. Members and firms must be honest, act with integrity and comply with their professional
obligations, including obligations to RICS. - Rule 2. Members and firms must maintain their professional competence and ensure that services are
provided by competent individuals who have the necessary expertise. - Rule 3. Members and firms must provide good-quality and diligent service.
- Rule 4. Members and firms must treat others with respect and encourage diversity and inclusion.
- Rule 5. 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.
Talk us through your understanding of the Rules of Conduct changes?
- The Rules of Conduct October 2021 Global Practice Statement will overhaul the previous separate documents:
o Rules of conduct for Members.
o Rules of Conduct for Firms.
o Global Professional and Ethical Standards.
- Appendix A of the Rules of Conduct now contains the professional obligations of Members and
Firms
What are the professional obligations of members?
- Members must comply with the CPD requirements set by the RICS which requires 20 hours of CPD for each calendar year, 10 hours of which must be formal CPD.
- Members must cooperate with RICS.
- Members must promptly provide all information reasonably requested by the Standards and
Regulation Board, or those exercising delegated authority on its behalf.
- Members must promptly provide all information reasonably requested by the Standards and
What are the professional obligations of firms?
- Firms must publish a complaints-handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log.
- Firms must ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS.
- Firms with a sole principal must make appropriate arrangements for their professional work to
continue in the event of their incapacity, death, absence from or inability to work.
- Firms with a sole principal must make appropriate arrangements for their professional work to
- Firms must cooperate with RICS.
- Firms must promptly provide all information reasonably requested by the Standards and Regulation
Board, or those exercising delegated authority on its behalf.
- Firms must promptly provide all information reasonably requested by the Standards and Regulation
- Firms must display on their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS.
- Firms must report to RICS any matter that they are required to report under the Rules for the
Registration of Firms
- Firms must report to RICS any matter that they are required to report under the Rules for the
Please explain the steps of the RICS Ethics Decision Tree?
Why does the RICS have Rules of Conduct?
- To provide a framework that we can all work to and so the client knows he is getting a set level of service.
- As well as being an important tool for the Institution, the Rules of Conduct are also a useful
professional guide for individual institution members.
Your brother-in-law is a chartered surveyor. You find out that he is working outside the RICS Rules of Conduct. What do you do?
- I verify the facts and confront him reminding him of his duties as a member of the RICS.
- I inform the RICS specifying my relationship to the person and any corrective action which I believemy brother-in-law is committed to put in place.
In the case of a breach of a rule of conduct what is the procedure?
- Not every shortcoming will necessarily give rise to proceedings.
- A formal investigation by the Head of Regulation of the RICS is the first step in the process.
- The RICS can request information and/or visit and inspect to investigate compliance.
- Members must cooperate fully with all enquiries.
