Ethics, Rules Of Conduct & Professionlism Flashcards
What are the 5 Global Professional and Ethical Standards?
There are 5…
Act with integrity
Always provide a high level of service
Act in a way that promotes trust
Treat others with respect
Take responsibility
What does Act with Integrity mean?
Being honest and straight forward in everything you do.
Trustworthy
Open and transparent
Respect confidential information
Don’t take advantage other anyone who you owe a duty of care too
Dont allow bias or conflict of interest get in your way
Don’t accept gifts which may portray improper obligation.
Act in the public interest
How can you Provide a high level of service?
Ensure your client receive the highest level and best possible advice/service.
Be clear on the service you are offering and their requirements
Act within the scope or your competence
Be transparent about fees etc
Communicate with client so they are able to make informed decisions
How can you promote trust in the profession?
Act in a manner which promotes you, your firm and RICS in a positive way.
Professionalism in does not end at 5pm
I and the RICS are accountable for my actions.
Do what you say you’re gonna do.
Provide a good service.
How can you treat others with respect?
Treat others the way you would like to be treated this goes for clients, juniors, contractors etc all the same.
Be courteous, polite and considerate.
Never discriminate
How can you take responsibility.
Being accountable for your actions and if something does go wrong own it and be prepared to do something about it.
Act with skill care and diligence.
Respond to complaints in an appropriate manner to resolve the matter.
If something isnt right raise the matter with your colleagues, firm, organisation, RICS or other.
If you were stuck regarding an ethical issue how would you resolve this?
I would utilise the ethics tree, failing this I would call the RICS dedicated members help line.
How will the RICS communicate with members?
post fax email telephone in person.
What are the Principles of Better Regulation?
Implemented by the Better Regulation Commission. Requires regulatory bodies (Such as RICS) to have regard to the Principles (PACTT).
Proportionality
Regulators should intervene only when necessary. Remedies should be appropriate to the risk posed, and costs identified and minimised.
Accountability
Regulators should be able to justify decisions and be subject to public scrutiny.
Consistency
Government rules and standards must be joined up and implemented fairly.
Transparency
Regulators should be open, and keep regulations simple and user-friendly.
Targeting
Regulation should be focused on the problem and minimise side effects.
What are the Rules of Conduct for Members?
2 Parts to the rules.
Part 1 - General
Interpretation
Communication
Part 2 - Personal and Professional Behaviour Ethical behaviour Competence Service Continuing Professional Development (CPD) Solvency Information to RICS Cooperation
What are the Rules of Conduct for Firms?
3 Parts to the rules.
Part 1 - General
Interpretation - Definitions within the rules.
Communication - How RICS will communicate
Part 2 - Conduct of business
Professional behaviour
Competence
Service - Carry out its professional work
Training and CPD
Complaints handling - Have CHP and Complaints log
Clients’ money - preserve the security of clients’ money
Indemnity - RICS approved PI
Part 3 - Firm Administration
Advertising - in a truthful and responsible manner.
Solvency
Arrangements to cover the incapacity or death of a sole practitioner
Use of designations (Obtain a logo pack + G note)
Information to RICS
Cooperation
What is required to be classed as a ‘Firm’
- Provide a surveying service to the public
2. Must have a contact officer who is authorised to submit a Firms Annual Return.
What must you do if a conflict of interest arises?
Option 1 - Refuse.
Option 2 - Manage, obtain informed consent, information barrier, compliance officer, record decisions.
What must a member of firm do to conform to best conflict of interest practice?
(a) identify and manage Conflicts of Interest in
accordance with this professional statement and
(b) keep records of the decisions made in relation to
whether to accept (and where relevant, to continue)
individual professional assignments, the obtaining of
Informed Consent, and any me
Tell me about Confidential information?
RICS members and regulated firms must maintain
confidentiality of Confidential Information unless
disclosure is required or permitted by law, or the RICS
member or regulated firm concerned can demonstrate that the relevant party consented to the disclosure before it was
made.
Every RICS member working independently or within
a non-regulated firm or within a regulated firm must
provide to every client all the information that is material to that client’s professional assignment of which that RlCS member has knowledge.
What must a firm have in place to deal with conflicts of interest?
Every RICS regulated firm must have in place
effective systems and controls appropriate to the size and complexity of their business to enable them to ensure that the firm and its employees are able to manage their compliance with RICS Conflicts of Interest guidance note.
Conflict checks and notices are circulated around the office.
How can you record CPD?
App
Website
20 hours per year (10/10) - every 3 years must do ethics training.
CPD Requirements?
20 Hours total per calendar year
10 formal
10 informal
Every 3 years ethics training.
RICS History
The Surveyors Club was formed in 1792.
Name change: Institution of surveyors in 1868.
How many members global?
134,000
RICS History?
The Surveyors Club which was formed as far back as 1792.
Turned into the Institution of surveyors in 1868.
Incorporated By Royal Charter, 26th August 1881
What countries/continents are the RICS in?
Asia America Australia Europe China UK and Ireland Sub-Saharan Africa
RICS President
Kathleen Fontana
RICS CEO
Sean Tompkins