Mandatory competencies submission Flashcards
What is the Role of the RICS
The RICS is a leading public body working in the public interest to :
Maintain and uphold ethical and professional standards for members
lead solutions to problems faced in the built environment
to qualify and equip members to be able to provide the highest standards of professional service
What is the organisational structure of the RICS
RICS is self regulated
Privy council
Governing council
Standards & regs, management board and audit committee
Finance and remuneration committee
Tell me what you understand about the bribery act 2010
The bribery act 2010 details
the principles of bribery
What accounts as a bribe
Implications of non compliance
What are the CPD requirements of the RICS
20 hours per year for registered members - 10 formal and 10 informal
What are the types of conflict of interest
Party interest
own interest/personal
Confidential information interest
What happens if there is a conflict
What is the RICS policy on gifts and hospitality
What Is the VOA policy on gifts and hospitality
What were these refreshments and why did you decline
Tell me when you have acted with integrity
What do you put in a terms of engagement
Name
status
bases of value
currency
fee
Complaints handing procedure
Purpose of valuation
Valuation date
Assumptions
limitations on liability
Tell me about complaints handling 2016
now a professional standard from 2023 rather than a guidance note
details what a complaints handling procedure should include
Alternative dispute resolutions and providers
Timescales
What does the CRCA 2005 set out
all information held by the VOA is covered by the duty of confidentiality and it specifies the circumstances when information can be disclosed.
Who are the voa clients
DLUHC
HMRC
HIGHWAYS ENGLAND
NHS
What kind of communication methods do you use
EMAIL, PHONE, LETTER, FACE TO FACE
Tell me about the health and safety at work act 1974
Primary piece of legislation which covers occupational health and safety in great Britain
includes
Staff training
providing a safe place to work
safe equipment
risk assessments
providing proper facilities
the appointment of a competent person to oversee H&S
Tell me about RICS surveying safely 2018
Guidance note detailing
identifying and managing risks
assessing hazards
occupational health and hygiene
inspection checklists and things to consider
Fire safety
What goes into your risk assessments for inspections
identifying any hazards
decide who might be harmed and how
evaluate the risks
record and implement findings
advise those who may be affected
What are the IFRS
A set of reporting standards which are mandatory for listed companies - sets out how to prepare financial statements (pnl, balance sheet, cash flow forecast)
What is IFRS 16
Standard that came into force Jan 2019 requiring all companies to report all leased assets and liabilities to give greater transparency
What is UK GAAP
a set of financial reporting standards which non listed companies can use to prepare financial statements - usually FRS 102 (STAUTORY REQUIREMENT UNDER THE COMPANIES ACT 2006)
What is VPGA 1 and what does it include
Valuation for inclusion for financial statements -
details that where an entity as adopted IFRS the basis of value will be fair value and IFRS 13 FAIR VALUE MEASUREMENT WILL APPLY
Also details IFRS 16
What are three methods of dispute resolution and explain them
mediation - impartial party acts as a negotiator between two parties to settle a dispute
arbitration - formal process where an impartial 3rd party makes a binding decision
litigation - where a disagreement is settled in a court of law
