Conduct Rules Ethics and Professional Practice m005

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RICS official definition

This competency must be achieved at least to level 3.
At level 1
Demonstrate knowledge and understanding of the role and significance of RICS and its
functions. Also an appreciation of your personal professional role and society's expectations of
professional practice and RICS code of conduct and conduct regulations, including the general
principles of law and the legal system, as applicable in your country of practice.
At level 2
Provide evidence of practical application in your area of practice, being able to justify actions
at all times and demonstrate personal commitment to the rules of conduct, ethics and RICS
nine core values.
At level 3
Provide evidence of application of the above in your area of practice in the context of advising
clients.
isurv recommended reading and services

-
Practice Management Guidelines (RICS guidance)

RICS Rules of Conduct
Practical guidance
This competency is arguably the most important of all. In order to be successful in the APC
final assessment you must demonstrate your awareness of and intention to act within the
RICS Rules of Conduct. This includes those for both members and firms. The Rules of
Conduct are critical to the profession for it is these and the underpinning values that give
confidence to the public and our clients that we are a 'safe pair of hands' and that we are
regulated by our professional body. Unsurprisingly this competency must be achieved to level
3.
See ethics and professional conduct in isurv professional skills for detailed commentary on the
Rules of Conduct, the ethical standards and the role of RICS Regulation.
Level 1
The knowledge and understanding required of the candidate at level 1 is wide-ranging. It
covers the role, function and significance of RICS; an understanding of society's expectations
of professional practice; RICS Rules of Conduct for both firms and members; and the general
principles of law and the legal system, as applicable in your area of practice
To understand the role and function of RICS, you should carry out some reading around the
structure of RICS, the various professional groups, group boards and committees, and the
functions performed, such as advising the government on housing, taxation, planning and
landlord and tenant issues and bringing an influence to bear on all relevant aspects of society.
Apart from keeping abreast of developments in newspapers, a good source of information is
the RICS magazine, Modus, and the various other RICS and 'property' publications.
The other requirement at level 1 involves the candidate understanding the role of the
professional person and of society's expectations of such a person. The general principles of
professional integrity (RICS' twelve ethicsal standards) hold good in all professional-client
situations. An important issue is that of 'ethics', which have been defined as a set of moral
principles extending beyond a formal code of conduct.
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Level 2
Level 2 in this competency requires you to provide evidence of practical application in your
area of practice, being able to justify actions at all times and demonstrate personal
commitment to the Rules of Conduct, ethics and the twelve standards.
Level 3
At level 3, you should be able to provide evidence of the application of the above in your area
of practice in the context of providing proefessional advice to clients or others.
Further guidance
This particular mandatory competency is a huge and expansive topic - but it should be kept in
perspective. The final assessment panel will keep their testing and questioning within the
confines of the knowledge and experience that a person with two years' experience in the
surveying industry, and occupying a fairly junior position, will have gained. Therefore you will
not be expected to have first-hand experience of some of the more detailed areas of the Rules
of Conduct, such as your firm's professional indemnity insurance or the Members' Accounts
Regulations, but you will be expected to demonstrate your knowledge of the requirements of
RICS in these areas and how this would be implemented in practice.
The assessment panel may also test your knowledge around some of the basics, such as why
RICS has Rules of Conduct, and aspects of the twelve standards.
Your training should incorporate a mixture of practical experience, structured reading and
perhaps some CPD-type events on current issues. This competency is obviously also an ideal
subject for your professional development. The APC guidance recommends that training in this
area accounts for 16 of the 48 hours per year of professional development experience
required.
A useful source of information is the APC guidance on the Rules of Conduct, RICS guidance
note for APC/ATC candidates, supervisors and counsellors: Rules of Conduct.
Levels 2 and 3 will involve you developing your practical experience at work, with an emphasis
on taking instructions, understanding and dealing with conflicts of interest, and applying the
rules and the twelve standards.
At your three-monthly and six-monthly reviews, you can discuss this with your supervisor and
counsellor. You may wish to consider three main areas:
-
the role and function of RICS;

the twelve standards: How are these applied within your workplace, what examples
does your supervisor and counsellor have of situations they have faced?;
Rules of Conduct: How does your employer ensure that all surveyors comply with
these and what policies and procedures are in place?
Testing areas of knowledge

You will see from the examples below how the questions tend to be scenario-based and will
often take a candidate into areas in which they may not have direct experience.
Consider the following questions and what should be included in answering them.
Self-assessment questions are also available in isurv professional skills.
If you are successful with your APC and you decide to start your own
business as a chartered surveyor what sort of things will you need to
consider and do?
For this question, assessors are looking for you to demonstrate that you will:
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advise RICS that you are starting a business;

register for regulation;
meet the requirements of the Rules;
understand the need for insurances (employers liability, public liability, etc.), a health
and safety policy, equal opportunities policy, etc.; and
use the RICS logo as set out by RICS and use only the appropriate alternative
designation relevant to your professional group.
What is client's money and how can a firm preserve the security of
this?
For this question assessors are looking for you to show that you will have systems in place to
ensure that clients' money can be clearly linked to the clients to whom it belongs and is
protected on their behalf in all circumstances including:
-
insolvency
misappropriation by any party; and
death of a sole practitioner.
You should be able to explain that clients' money is any money received and held by a firm
that does not solely belong to it. Try to have some examples of clients' money that is relevant
to your APC pathway. These might include:
-
tenant's deposits;
rents;
service charges;
interest (if in an interest bearing client account);
arbitration fees;
fee money taken in advance;
clients' money held but due to be paid to contractors;
money held by members appointed as a Receiver; and
sale proceeds.
You should then explain the systems you would need to have in place including:
-
Keep clients' money in a designated account(s).

Include the name of the firm and the word 'client' in the name of the account - to
distinguish the account from your office account.
Obtain bank confirmation of account conditions, including making sure the bank
doesn't combine or offset funds in your client account with any other account your
firm holds.
Advise the client on and agree terms of account handling in writing.
Ensure there are sufficient funds in the account to pay amounts owing to clients as
they fall due under the firm's terms and conditions of engagement.
Obtain clients' written approval to make payments from their accounts.
Bank at the earliest reasonable opportunity.
Nominate authorised staff to handle money.
If you make use of cash receipts to settle transactions by cash, make sure your
records show all cash transactions.
Manage transactions using an accounting system appropriate to the business.
Use an accounting system that enables you to keep adequate records of your
clients' money holdings. A suitable software package will enable the firm to manage
money effectively.
Reconcile client accounts together with bank and cash balances at regular (usually
monthly) intervals in order to demonstrate control over the accuracy and
completeness of accounting records.
If you are successful in undertaking a project for a client and they

send you a case of wine as a thank you, what should you do?
You should clearly state that you would consider whether this could introduce a future conflict
of interest. You might also refer to your employer's gift register or other policies/procedures.
The important point is to show that you would not accept a gift that may influence your future
judgment.
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As a qualified surveyor you are working for a surveying practice and

a friend asks you to [example of work from the relevant professional
group] as a favour because you are a surveyor, what should you do?
You should identify that you would not give this advice as you do not have Professional
Indemnity Insurance and would encourage your friend to seek advice through your company
being careful that you acknowledge any conflict of interest for yourself.
Page 4

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What are the key requirements for starting a surveying business?

What is client's money and how can a firm preserve the security of this?

http://www.isurv.

RICS official definition

isurv recommended reading and services

Practice Management Guidelines (RICS guidance)

the role and function of RICS;

Testing areas of knowledge

advise RICS that you are starting a business;

Keep clients' money in a designated account(s).

If you are successful in undertaking a project for a client and they

As a qualified surveyor you are working for a surveying practice and

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