Ethics, Rules of Conduct and Professionalism Flashcards
(23 cards)
What does RICS stand for?
Royal Institution of Chartered Surveyors
When was the RICS founded?
1868
What is the purpose of the RICS?
A global professional, standards and regulatory body existing to secure the advancement and usefulness of the profession for the public advantage
When did the RICS receive its Royal Charter?
1881
What is the Royal Charter?
The royal charter required the RICS to “promote the usefulness of the profession for the public advantage in the UK and other parts of the world”. (Act in the public interest).
What is the RICS motto?
Est Modus in Rebus = There is measure in all things
How many members does the RICS have?
Over 130,000
What are the benefits of RICS membership?
o International Recognition from clients and peers
o Competitive Advantage
o A known level of professional standards
o Quality assurance to my clients
o Access to information and training resources
What is the RICS Mission Statement?
- To qualify and equip their members to offer the highest standards of professional service.
- To promote and enforce standards.
- To lead solutions to the major challenges facing the built environment through professional expertise.
What is the difference between RICS Ethics and Rules?
- Ethics are a set of moral values.
- Rules of Conduct are a framework we work to.
What are the RICS By-laws?
They govern the RICS members.
By-laws – altered in 2020.
What is the Black Book?
QS and Construction Practice Information produced by the RICS.
When is a firm required to be regulated by the RICS and, when may they be regulated by the RICS?
A Firm is required to register for regulation by the RICS if:
* The Firm provides surveying services to the public
* The Firm is operating in Regulated Area A (the UK)
* At least 50% of the Firm’s Principles are RICS Members
A Firm may register with the RICS if:
* The firm provides surveying services to the public
* 25% of a firm’s principals are RICS members
What procedures must you follow if you are setting up a new practice?
- Contact the RICS for guidance and obtain a company start up pack.
- Inform the RICS and register for regulation.
- Appoint a firm principal for all RICS communications.
- Prepare a complaints handling procedure.
- Obtain Professional Indemnity Insurance cover.
- Abide by the RICS Rules of Conduct for Firms.
- Use the designation ‘Regulated by RICS’ on all practice material.
What insurances would you need if you were starting up your own firm?
- Professional Indemnity Insurance – protects individuals and firms from the costs of claims relating to mistakes or breaches in their professional services.
- Employer’s Liability – a policy which handles claims from workers who have suffered a job-related injury or illness not covered by workers’ compensation.
- Public Liability – protects businesses against compensation claims and legal costs.
- Building’s insurance of an office premises.
What does the Royal Charter allow the RICS to do?
- They may regulate their members and firms.
- It also lists certain requirements of the RICS such as having a president and vice-president, and other structural requirements.
It defines the classes within the RICS: - Fellows
- Professional Members
- Non-Chartered Members
- Honorary Members (not chartered)
What is Lionheart?
An independent charity specifically designed for past, present and future RICS professionals and their families. With a range of issues such as mental health, financial support and professional development.
What are the RICS principles for better regulation?
- Proportionality
- Accountability
- Consistency
- Targeting
- Transparency
What is the structure of the RICS?
The Governing Council heads up the RICS - answering direct to the Privy Council.
The Governing Council manage and agree strategy for the RICS.
The Regulatory board, audit committee and management board sit underneath the governing council and execute the strategy set by them.
Who is the President of the RICS?
Justin Sullivan - though he is under investigation for his involvement as an expert witness.
Acting President is Nicholas Maclean.
President Elect is Maureen Ehrenberg
What is Rule 1 of the RICS Rules of Conduct?
Members and Firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS
What is an example of when you have
