Ethics Flashcards
When was the RICS founded?
1868
When did the RICS receive Royal Charter?
Granted, by the privy council in 1881
RICS regulation and bylaws set out the governance of the institution
What are the four levels of RICS membership?
- FRICS
- MRICS
- AssocRICS
- Trainee/Student
How do you become a fellow (FRICS)?
You need to provide four fellowship characteristics, which include
1. Five or more years at MRICS
2. A leadership role
3. Professional/technical achievement
4. Academic achievement, or raising the profile of the RICS
- A portfolio of professional achievement to support the application is required to include your CPD record
Current governance structure?
The Leavitt review/Bishard review
The role of the RICS?
The role of the RICS is to promote and enforce the highest professional qualifications and standards in the development, management of land, real estate, construction and infrastructure
The RICS has three main roles?
- To maintain the higher standards of education and training.
- To protect consumers through strict regulation of professional standards
- To be the leading source of information and independent advice on land, property, construction and associated environmental issues.
Five Benefits of being an RICS member?
- Status
- Recognition
- Market advantage
- Knowledge
- Network
The RCS states three benefits of regulated firms?
C.P.S
- Confidence - for client’s regulated firms are monitored
- Professionalism - clear, impartial, expert advice
- Security - firms have to have a recognised complaints procedure access to free independent redress and PII cover
requirements for RICS registration
- Firms providing surveying services to the public must register for regulation to ensure that there is a recognise quality benchmark for all firms.
- regulation provides a gold standard of quality control, for clients
- Firms must annually make a return to the RICS confirming their compliance with their obligations
- A practice can be a corporate body, a partnership, an LLP or a sole practitioner
RICS rules for the regulation of firms, 2019.
50% of principles of a UK firm, which provides surveying services are RICS members then it has to be regulated and if at least 25%, then it can apply to be regulated.
Principles are soul practitioners , directors, partners, or board members, or someone who is able to act autonomously without supervision
Each firm must nominate a responsible principal Who is obligated to ensure all reasonable steps are taken and systems are in place to ensure compliance with regulatory and RICS requirements, including to report to the RICS as required
Disputes concerning registration of a firm will be heard by the RICS standards and regulations board
there are strict rules on the use of the RICS logo
Information required by RICS registration (6)
- type of business and staffing detail.
- Statutory regulated activities (such as for financial services)
- Nature of client’s
- Complaint handling procedure details and records.
- Professional indemnity insurance details.
- Whether the firm holds clients money.
RICS rules of conduct 2021
Rule 1
Members and firms must be honest act with integrity and comply with a personal obligations, including obligations to the RICS
RICS rules of conduct 2021
Rule 2
members and firms must maintain their personal competency and ensure that services are provided by competent individuals who have the necessary expertise
RICS, rules of conduct 2021
Rule 3
Members and firms must provide good quality and diligent service
