Level 1 Ethics and Rules of Conduct Flashcards
What are the codes of conduct?
- Honest, integrity and comply with professional obligation
- Maintain professional competence
- Quality and dilligent service
- Respect
- Act in public interest
Balance of interests/ conflicts of interest and examples?
Risk that someone’s judgement or actions at work could be affected by something unconnected with their role.
- Decide whether to accept or decline
- Write to all parties and disclose the nature and background and how to manage it
- Request informed consent from clients
Formal and informal CPD? How many hours?
48 hours
Formal has a learning objective and outcome
Conduct for both members and firms Feb 2022
The Same
RICS governance structure & president
Anne Gray
RICS Ethics Decision Tree principles
- Consider the facts
- Identify the relevant RICS standards in the rules of conduct
- Use your professional judgement which may require a balance of interest.
- Document your decision
Advised Complaints Procedure
- Ensure the CHP has two stages
- Have resonable timescales for responding
- Record in a complaints log
- Be understood and available to all
Behaviours for codes of conduct
What is informed consent?
Given in writing when parties have been given information regarding a conflict of interest, Confirm they understand the situation.
Bribery Act 2010
Parliamentry act to prevent a bribe
Bribe: dishonest persuasion with a gift, money or offer.
4 Offences under the act:
- Offering a bribe
- Accepting a bribe
- Failing to prevent a bribe
- Bribing a foreign official
RICS President?
Ann Grey
The roles of the RICS?
- Global leading professional body promoting the higest standards in the property industry
- Gold standard of professional regulation
- Provide impartial advice
What groups are in the RICS Structure?
- Governing Council
- Regulatory Board
- Management Board
- Executive Team
- Presidential Team
What groups are in the RICS Structure?
- Governing Council
- Regulatory Board
- Management Board
- Executive Team
- Presidential Team
What are the professional obligations of members?
- Members must comply with CPD Requirements set by the RICS of 20 hours of CPD, 10 of which is formal which requires a learning objective.
- Members must cooperate with RICS
- Members must promptly provide all information reasonably requested by the Standards and Regulation board.
RICS Requirement of PII?
Insurance covers professional negligence.
- Policies made on an each and every claim basis
- RICS sets out the minimum levels of indemnity
- Sets out the maximum levels of uninsured excess
- Run off cover must be in place for at least 6 years.
- Policy should include cover for past, present employees, directors and partners.
What is run off cover?
Claims can be made after you stop practice i.e retirement or closure. Run off cover covers you for this period.
Examples of Honesty, Integrity and compliance with Professional Obligations
(RULE 1)
- Members & firms should not be mislead others by their actions
- To be open and honest about fees & services
- Do not take unfair advantage of others
- Do not facilitate financial crime such as money laundering or tax evasion
Examples of Professional Competence (RULE 2)
- Must undertake work that they have the knowledge, skills and resources to complete competently
- Any employees undertaking works for them must have the necessary knowledge, skills and resources
- Must maintain and develop their knowledge and skills throughout careers (CPD)
Examples of Good Quality & Diligent (RULE 3)
- Understand clients’ needs and objectives before accepting any professional work
- Members and firms agree with clients the scope of services and timescales
- To communicate with clients and other clearly in a way they can understand
- Understanding the risks and benefits of using relevant technology
- Effective equality assurance processes for their work
Examples of Respect, Diversity & Inclusion (RULE 4)
- Respect the rights of others and treat others with courtesy
- Do not bully, victimise or harass
- Firms check the supply chains do not involve with modern slavery
- Work Cooperatively with others
- Develop an inclusive culture in their workplace, support equal access
Examples of Acting in Public Interest (Rule 5)
- Members and firms support directors, partners, employees who have acted in good faith to report concerns
- Must respond to complaints made against them promtply, openly and professionally
- Do not dissuade complaints from ADR
- Manage their professional finances responsibly
RICS Members obligations
- Comply with RICS CPD requirements
- Cooperate with RICS
- Must provide all information reasonably requested by the Standards
RICS Firms Obligations
- Must publish a CHP which contains ADR
- Ensure all and previous professional work is covered by adequate/ appropriate PII Cover
- Firms must cooperate with RICS
- Must provide all information reasonably requested by RICS
- Must display business literature in accordance with the RICS
RICS Professional Standards - Professional Statements
These contain ‘musts’ - mandatory requirements along with details of regulatory interventions if these requirements are not met.
RICS Professional Standards - Guidance Notes
These contain shoulds - non-mandatory requirements but recommendations of best practice on undertaking given tasks
- Outline best practice within the profession and provide advise to surveyours on how to complete certain activities
- They should be followed, members should remain up to date to ensure they are competent.
RICS Professional Standards - APC
Requirements and guidelines relating to entry into the profession
RICS Professional Standards - Data Standards
These ensure software programmes and technology can adopt RICS standards into their offering
The Black Book
A suite a guidance notes that define good technical standards for construction professionals
Difference between ethics and integrity
- Ethics are moral principles that govern a persons behavior or the conduction of an activity
- Integrity is the quality of being honest and having strong moral principles and values
- Ethics looks at the big moral picture while integrity is focused on personal characteristics.
CPD
Continued Professional Development
CPD Requirements for Chartered Surveyors
Must undertake a minimum of 20 hours CPD each calendar year
Out of 20 at least 10 must be formal.
Formal = structured learning with an objective
i.e professional training courses
- Structured online training
- Assessed works
Informal = self-managed learning that is relevant or related to your professional role
- Private Study
- On the job training
- Events/seminars where the focus is on knowledge sharing
Gifts & Hospitality
I would not accept gifts, hospitality, services which might suggest an improper obligation
- Can be accepted in certain circumstances, the key is to consult the ethics tree and make an informed decision.
Key points to note:
- Timing of the gifts or hospitality
- Proportionality of the gift
- Consideration to the impartiality or percieved impartiality
What is a bribe?
An incentive or reward offered, promised, or provided to gain any commercia, contractual or personal advantage
What is money laundering?
Generic term to describe the process by which criminals disguise original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source
How to report suspicious money laundering
Legally obligated under the Money Laundering Regulations to submit a SAR (Suspicious Activity Report) to the National Crime agency
