Rules Of Conduct Flashcards
What is Rule 1?
Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
What is an example behaviour for Rule 1
Members and firms do not mislead others by their actions or omissions, or by being complicit in the actions or omissions of others.
What is another example behaviour of Rule 1?
Members and firms do not allow themselves to be influenced improperly by others (as a result of, for example, giving or receiving work referrals, gifts, hospitality or payments) or by their own self interest.
What is a third example behaviour of Rule 1?
Members and firms identify actual and potential conflicts of interest throughout a professional assignment and do not provide advice or services where a conflict of interest or a significant risk of one arises, unless they do so in accordance with the current edition of Conflicts of interest, RICS professional statement.
What is a fourth example behaviour of Rule 1?
Firms have effective processes to identify actual and potential conflicts of interest, to enable appropriate decisions to be made on whether to accept work, and to keep records of decisions made about actual and potential conflicts of interest.
What is a fifth example behaviour of Rule 1?
Members and firms providing advice and opinion in a professional context do so honestly and objectively based on relevant and reliable evidence, and firms have processes to ensure that directors, partners and employees do so.
What is a sixth example behaviour of Rule 1?
Members and firms are open and transparent with clients about their fees and services.
What is a seventh example behaviour of Rule 1?
Members and firms act to prevent others being misled about their professional opinion.
What is an eighth example behaviour of Rule 1?
Members and firms do not take unfair advantage of others.
What is a ninth example behaviour of Rule 1?
Members and firms protect confidential information and only use or disclose it for the purposes for which it was provided, where they have the necessary consent to do so or where required or permitted by law.
What is a tenth example behaviour of Rule 1?
Firms keep client money safe and have appropriate accounting controls.
What is an eleventh example behaviour of Rule 1?
Members do not misuse client money and comply with controls intended to keep it safe.
What is a twelfth example behaviour of Rule 1?
Members and firms do not facilitate any financial crime including money laundering, tax evasion, bribery or corruption. Firms have effective processes to prevent directors, partners or employees from doing so.
What is Rule 2?
Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
What is an example behaviour of Rule 2?
Members and firms only undertake work that they have the knowledge, skills and resources to carry out competently.
What is a second example behaviour of Rule 2?
Members and firms supervise any employees undertaking work for them and ensure that these employees have the necessary knowledge, skills and resources to do their tasks competently.
What is a third example behaviour of Rule 2?
Members and firms check that subcontractors have the necessary knowledge, skills and resources to do their tasks competently.
What is a fourth example behaviour of Rule 2?
Members and firms reflect on the work they have undertaken and its impacts, and consider how they might apply what they have learned to their future work.
What is a fifth example behaviour of Rule 2?
Members maintain and develop their knowledge and skills throughout their careers. They identify development needs, plan and undertake continuing professional development (CPD) activities to address them and are able to demonstrate they have done so. Firms encourage and support directors, partners and employees to maintain and develop their knowledge and skills and check that they are complying with CPD requirements set by RICS.
What is a sixth example behaviour of Rule 2?
Members and firms stay up to date and comply with relevant legislation, codes of practice and other professional and relevant technical standards. Firms ensure that their directors, partners and employees do so.
What is Rule 3?
Members and firms must provide good-quality and diligent service.
What is an example behaviour of Rule 3?
Members and firms understand clients’ needs and objectives before accepting any professional work.
What is a second example of Rule 3?
Members and firms agree with clients the scope of the service to be provided and its limitations, and timescales for the work.
What is a third example behaviour of Rule 3?
Firms inform clients that they are regulated by RICS and that they may need to disclose records to RICS where required for regulatory purposes.
What is a fourth example behaviour of Rule 3?
Members and firms inform clients promptly and seek their agreement if it is proposed that any of the terms of engagement or estimated fees or costs be changed.
What is a fifth example behaviour of Rule 3?
Members and firms undertake their work in a timely manner, with due care, skill and diligence, and in accordance with RICS technical standards.
What is a sixth example behaviour of Rule 3?
Members and firms communicate to clients the material information on which their professional advice and opinion is based.
What is a seventh example behaviour of Rule 3?
Members and firms communicate with clients and others clearly and in a way they can understand.
What is an eighth example behaviour of Rule 3?
