Ethics, Rules of Conduct & Professionalism Flashcards
What are the 5 Rules of Conduct
- Members and Firms must be honest, act with integrity and comply with their professional obligations, including their obligations to RICS.
- Members and Firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
- Members and Firms must provide good quality and diligent service
- Members and Firms must treat others with respect and encourage diversity and inclusion
- Member 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.
When was the Code of Conduct updated? What changed?
February 2022. They combine the requirements for members and firms.
Give an example of how you abide by each of the rules?
Rule 1 – I am open and transparent with Clients around fees and services, I do not allow myself to be negatively influenced by others.
Rule 2 – I ensure to comply with my CPD requirements, I reflect on my work completed and look for areas of good practice as well as a areas of improvement.
Rule 3 – I ensure to undertake my work in a timely manner, I clearly communicate with Clients and colleagues in a way they understand.
Rule 4 – I ensure to work cooperatively and use inclusive language inside and outside of the profession.
Rule 5 – I raise concerns with colleagues and clients when I feel something is not right or I have concerns, I ensure to support those that have raised complaints or have concerns in the profession.
What is Appendix A?
This sets out the professional obligations to the RICS for Members and Firms
Give an example of the obligations for Members and for Firms?
Members:
- Must comply with CPD requirements (20 hours per annum, at least 10 formal for members), (48 hours per annum, at least 24 formal for those on the APC pathway).
- Must cooperate with the RICS
- Provide information requested by the Standards and Regulation Board
Firms:
- Must publish a complaints handling procedure
- Ensure the appropriate professional indemnity cover is provided.
- If a firm consists of a sole principle, then a locum professional needs to be provided
- Must publish they are regulated by the RICS on business literature
What is the Royal Charter?
A charter awarded in 1881 by Queen Victoria. Requires the RICS to promote the usefulness of the profession in the public interest.
What law governs Bribery?
The Bribery Act 2010
What are the crimes under the Bribery Act?
Offering a Bribe
Receiving a Bribe
Failing to prevent a Bribe
Bribing a Public Official
What are the punishments under the Bribery Act?
Unlimited fines for individuals and organisations. Individuals can also receive a jail sentence of up to 10 years.
What is Modern Slavery?
The illegal exploitation of people for commercial gain.
What are some tell-tale signs of Modern Slavery?
Legal documents being held by someone else.
Groups of workers being paid into the same bank account.
Workers perceive themselves to be in debt to someone else.
How would you report a suspected Bribe?
Report internally at your company, report it to the police, add suspected Bribe to Register of Interest.
How would you report suspected Modern Slavery?
Report directly to the police.
What is a Conflict of Interest?
A situation where an actual, perceived or potential risk that professional judgement will be compromised.
What are the 3 types of Conflict of Interest?
Party Conflict – where acting in the interests of one Client would conflict with the interests and duties owed to another Client.
Own Interest Conflict – where acting in the interests of a Client would conflict with your own beliefs
Confidential Information Conflict – where duty is owed to a Client to keep information confidential and where a duty is owed to another Client to divulge that information.
What is the structure of the RICS?
