Ethics, Rules of Conduct & Professionalism Level 2 Flashcards
How do you ensure that you comply with bribery legislation
By following RICS professional statement on countering bribery, corruption, money laundering and terrorist financing:
By having a written policy covering anti bribery and corruption including a risk assessment detailing the nature and impact of risk affecting the business - keeping the policy updated periodically
Follow RICS guidance and news regarding any new legislation or changes to legislation
How do you ensure you comply with money laundering regulations
By following RICS professional statement on countering bribery, corruption, money laundering and terrorist financing:
By having a written policy covering money laundering and terrorist financing that covers;
- high risk situation when enhanced due diligence necessary
- Identifying PEPs, PSCs and potential breaches of sanctions
- the process followed for customer due diligence
- situations when diff levels of due diligence required.
Follow RICS guidance and news regarding any new legislation or changes to legislation - keeping the policy updated periodically
How do you ensure you comply with your firm’s bribery and gifts policy
Know what TEA policy is and follow it !
Tell me about an instance of when you have been offered a gift or hospitality by a client
I haven’t been offered any gifts or hospitality to date, if I was then before accepting would follow firms and RICS guidance on anti-bribery and corruption and if necessary refuse the gift or hospitality to ensure that I am complying with guidance.
Tell me about what you would do if you felt that an instruction was outside your scope of experience or knowledge
- discuss with client to make sure I had a complete understanding of what was required and why
- discuss with colleagues to consider if I did have relevant experience or knowledge or if they had better understanding or experience
- make decision about whether we could accept the instruction and who is best placed to undertake the work - can be ok to push expertise / experience depending on value / risk involved. Discuss with client and explain any reservations, suggest ways that can help - specialist help or refer to third party?
Check with PII provider if additional cover required
Tell me about an instance of when you have handled client’s money
TEA does not hold client money or have any circumstances when it does. Only receives payment of invoices which only include fees and incurred disbursements.
Have in the past held client money.
How would you keep client’s money securely and safely held?
If did deal with client money would have a separate client account and all client money would be held in there.
Tell me about how you would handle a client complaint
Refer them to the firms CHP and managing director.
Tell me about your understanding of your firm’s process for escalating a complaint to ADR?
Firm’s CHP follows RICS example CHP and has two stages. In the first the complaint is reviewed internally and ask that client puts the complaint in writing so that it is properly understood.
Hopefully complaint will be resolved through that stage, but if not the second stage is for the client to submit for independent review by RICS approved independent redress provider
Tell me about a conflict of interest check you have carried out
Our firm is only just larger than sole practitioner, with only small number of projects and clients there is low risk of conflicts.
In order to carry out a conflict of interest check, would search firm database for similar names and / or addresses
If you have identified a potential or actual conflict of interest, how could you handle this?
Would discuss with colleagues, especially managing director. Follow RICS guidance - what is the conflict, is it a conflict where could be possible to act if all parties agree? If so disclose to all and ask for appropriate permission to act despite conflict.
Give an example of where you have completed checks to avoid bribery in your professional life
My firm has a written policy and has carried out an anti bribery risk assessment in accordance with RICS countering bribery, corruption, money laundering and terrorist financing professional statement. Identified that the work type and geographic location is low risk. Personally, I haven’t encountered a situation that has presented a potential risk. However, would be alert to potential of being offered a bribe, and know how to recognise potential risk - consider what is being offered and why?
Give an example of where you have completed checks to support the RICS Rules of Conduct in your professional life
CPD - have I met requirements. Have other firm members met requirements
PII - does it meet RICS requirements
How have you managed the requirements of PII in your role?
I complete the firm’s PII renewal annually. Always consider if instruction is covered by PII iff asked to do something which doesn’t fall exactly within the usual scope of instructions
How do you consider the coverage of PII in delivery of your roles?
Personally - in relation to what the scope of the firm’s PII cover is - what is the value of the project, what is the work / service required.
In each project - if providing full QS services, what PII is required for contractor and subcontractor etc - is the cover sufficient, is it valid.
What “high professional standards” do you adhere to in your role?
High standards required by RICS code of conduct.
These include providing high standard of client care
