Ethics Flashcards
(45 cards)
What is in your scope of service?
The scope of service is tailored to the type of job you’re doing
SOS/TOE appended to every fee quote
Sets out the agreement to avoid ambiguity/ later disputes
What are terms of engagement? What do your terms of engagement includ
Liability limitations £1mil aggregate
No third party reliance
How to make a complaint / find the complaints handling procedure
Allowance for info to be shared with PI insurers if needed
What insurances must a contractor have in place
Public liability
Professional indemnity
Employers liability
£10mil
How did you pick appropriate contractors
Must have skills, knowledge, experience
Mckntractors on LSH list are pre-vetted
What is the role of the standards and regulation board
The SRB has a public interest mandate to ensure that surveyors act and the industry operates ethically and professionally.
The role of the SRB is to:
Exercise the regulatory function of RICS. Rules ofnconduct
Oversee RICS professional guidance, entry to the profession, qualification standards and dispute resolution services
Be responsible for the Regulatory Tribunal
What are the main offences under the bribery act
Bribing another person
Being bribed
Bribing a foreign public official
Failure by commercial organisation to prevent by bribery
What rics document is there to do with bribery
Countering bribery and corruption, money laundering and terrorist financing
Professional obligations of members to rics
CPD
Cooperate with RICS
promptly provide info to standards and regulation board
What are the obligations of firms to RICS
Complaints handling procedure.
PI cover (adequate and appropriate)
Arrangements for death
Cooperate with RICS
Promptly provide info to standards and regulation board.
Display RSCS designation in accordance with RSCS requirements.
Report matters required under the rules for registration of firms
Name a professional standard
Name a practice information
Surveying safety
Ascertaining loss and expense practice info
What are the RICS bye-laws? Name some?
They set out the governance of the institution
Bye-law 2: membership and registration
Fellow/ professional member / non-chartered member / honorary member
Bye-law 3: DESIGNATIONS
Mrics / frics
Bye-law 4: CONTRIBUTIONS TO FUNDS
pay rics subscriptions etc.
Bye-law 5: LIABILITY OF MEMBERS
How you conduct yourself ‘
Rics structure
Royal charter requires rics to promote the profession & act in public interest
Self-regularisation model (not regulated by government, instead internally monitored& inspected)
Bye-laws set out the governance
Top-level strategy= governing council (meets 2x year)
What are the main roles of the rics
- EDUCATION AND TRAINING
highest standard off education and training - REGULATION AND PROFESSIONAL STANDARDS
to protect consumers through strict regulation and professional standards - INFORMATION SOURCE AND INDEPENDENT ADVICE
to be the leading source of information and in
Who is the president
Justin Sullivan FRICS
Currently standing in is Nick Maclean
5 principles of better regulation?
These principles provide a framework within which members and firms can decide how best to meet the RoC requirements
PACTT
Proportionality (penalty proportional to the breach)
Accountability (to all members on the public)
Consistency (treating all members the same)
Targeting (serious breaches)
Transparency (to all members clients on the public) 
What are the benefits to being an
RICS member
-Client confidence
-Recognition of profession excellence
-Market advantage
-Knowledge - utilising professional standards, CPD opportunities and knowledge sharing
-networking
What are the global ethical standards of the rics
The rules of conduct are based on the ethical principles of:
Honesty, integrity, competence, service, respect, responsibility
What is appendix A of the RoC?
Professional obligations to the RICS
What are professional obligations of members to rics
Comply with CPD requirements.
Cooperate with the RICS
Promptly provide information requested by the standards and regulation board 
What are obligations of firms to RICS
Complaint handling procedure (must include ADR approved by rics)
Professional indemnity cover. Including run-off
Arrangements for incapacity
Cooperate with rics
Provide information to standards and regulation board.
Must display RSCS designations in accordance with RSCS policy.
Report any matter required under the rules for registration of firms (nature of clients, CHP, PII deets, do u hold client money?) 
What are the disciplinary procedures of the rics
Self-regulated by RICS
Triggered by failure to meet RoC / complaint / allegation
Action by Head of Regulation
(Fixed penalty, conent order=i.e stop doing that!!, serious breach= disciplinary panel)
Disciplinary panel
(50% non-members, unlimited fine, expulsion, results are public!)
Appeal panel
Types of rics documentation
Regulation
Roc, rules for registration of firms
Professional standard
Mandatory
Practice information
Best practice, optional
What would you do if a client tried to cut your proposed fee?
Can I still provide the high level of service required?
Consider reducing the scope of works and discussing with client
When might you decline an instruction?
Conflict of interest
Not competent.
Insufficient facts
Client not agreeing to terms of engagement 
