Ethics Flashcards
(44 cards)
Why do you want to become a member of RICS?
I want to become a member of RCS because I want to have industry recognition, provide a gold standard of excellence and develop my career.
MRIP
What are the key functions/roles of the RICS
1) Maintain highest standards in professional competence
2) Regulate / promote the profession
3) Impartial advice and
protect customers
RKN
What are the benefits of being an RICS member?
1) Status - unrivalled client confidence
Recognition/Advantage - promotion of your professional excellence - RICS provides competitive advantage
2) Knowledge - international practice standards, professional guidance, CPD & knowledge sharing
Network - access to 130,000 qualified members worldwide
What is a Royal Charter
The Royal Charter allows the RICS to be self-governed. It maintains and promotes the usefulness of the profession for public advantage.
What do you understand by the term self-regulation?
RICS self-regulates, meaning that it operates within it’s own published regulatory framework, rather than being legislated by Government. RICS regulation is led by an independently-chaired Regulatory Board and regional sub-boards.
PACTT
Can you tell me what you understand by the principles of better regulation?
PACTT. 1. Proportionality - make the penalty proportional to the breach. 2. Accountability - Regulators must be able to explain their actions under public scrutiny. Promote complete fairness. 3. Consistency - treat everyone equally. 4. Targeting - focusing on serious breaches.
5. Transparency - Regulations are simple, clear and effectively communicated to all members, clients and public.
What is a Bye-Law? Give an example?
Enabling Principle ratified by the Privy Council
1) Application and definitions 2) Membership registration 3) Designations 4) Contribution to funds 5) Conduct 6) Governing council, officers and staff 7) Subordinate boards, committees and groups 8) Procedure for general meetings 9) Accounts and audits General
There are 10 e.g. Conduct - complying with regulation and rules.
Explain to me the new RICS Rules of Conduct - what do they replace?
The new Rules of Conduct is a single document which replaces the old Rules of Conduct for members, Rules of Conduct for firms and global ethical principles and has Appendix A
RICS Rules of Conduct: When do they take effect? Who do they relate to?
2 Febuary 2022
Members and firms (Per Bylaw 5.1)
What are the 5 Rules?
1.Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS
2.Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
3.Members and firms must provide good-quality and diligent service.
4.Members and firms must treat others with respect and encourage diversity and inclusion.
5.Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession
RICS Rules of Conduct: Give an example behaviour for each?
Rule 1: a) Don’t mislead/take unfair advantage.
b) Make sure transparent regarding fees.
Rule 2: a) Complete CPD/Stay up to date with legislation.
b) undertake work which u are competent to do
Rule 3: a) U/S Clients needs/objectives prior to undertaking instruction.
b) Communicate with client in simple and easy to understand manner.
Rule 4: a) Respect other people
b) Work cooperatively with others
Rule 5: a) Manage professional finances responsibly
b) Don’t make statements which undermine the profession
What disciplinary procedures can the RICS impose and what circumstance can they be imposed?
When did RICS last update their disciplinary panel rules?
[ARA]
Action by Head of Regulation
Regulatory Tribunal
Appeal Panel
1st October 2019
Name the different types of RICS memberships?
- FRICS
- MRICS
- AssocRICS
- Trainee/Student
RICS CPD requirements?
20hrs per year (10hrs formal)
Or training is 48 with 50% formal
When was the RICS founded, what is its background?
- Founded in 1868
- RICS has a Royal Charter, initially granted by Privy Council in 1881
- RICS regulations and Byelaws set out governance of the Institution
Who is the RICS president?
Nicholas Maclean (Acting Head)
What is the RICS motto
Est Modus in Rebus - there is a measure in all things
SC-FUT
What was the rationale for the new ROC
- Simpler structure - easier to understand
- Clear examples - real life applications
- Focuses on respect, diversity and inclusion
- Understanding evolving technology
- Tackling global challenges - sustainability development
HICSRR
What ethical principles are the ROC’s based upon?
- Honesty
- Integrity
- Competence
- Service
- Respect
- Responsibility
What is the current governance structure of the RICS?
1) RICS is currently governed, under the terms of its Royal Charter, by various internal councils, boards and associations
2) The Governing Council has 28 members and runs the RICS, **providing management and strategic direction **
3) There are 17 specialist professional groups covering property, land and construction.
What is the purpose of the governing council?
Provides strategic management and direction to the RICS
Explain Appendix A of the ROC
Sets out professional obligations to be followed by members and regulated firms
Professional obligations for MEMBERS:
1. Comply with CPD requirements
2. Cooperate with RICS
3. Provide all information requested by the Standards & Regulations Board
Professional obligations for FIRMS:
1. Publish a complaints handling procedure
2. Ensure all previous & current professional work is covered by Professional Indemnity Insurance (PII)
3. Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of incapacity, death, absence or inability to work
4. Cooperate with RICS
5. Provide all information requested by the Standards & Regulations Board
6. Display on business literature that firm is regulated by the RICS
7. Report to RICS any matter that they are required to report under the Rules for the Registration of Firms.
HIIO
What are the civil service values?
Civil Service Values
* INTEGRITY - putting obligations of public service above personal interests
○ Don’t accept gifts/handle information within the legal framework/act with professionalism
* HONESTY - being truthful and open
○ Set out facts honestly/don’t mislead parties/don’t be influenced by bribery
* OBJECTIVITY - basing advice and decision on rigorous analysis of the evidence
○ Don’t ignore inconvenient facts or relevant considerations when providing advice
* IMPARTIALITY - acting solely according to the merits of case
○ Carry out responsibilities fairly
Double check this as VOA values are slightly different
what is an unconscious bias
Unconscious (or implicit) bias is a term that describes the associations we hold, outside our conscious awareness and control. Unconscious bias affects everyone.
