The APC Source

Ethics

21 April 2019

Ethics is a very important part of passing your APC if you don’t know this section well enough there is a strong chance you will fail your exam.

5 Standards of the RICS

Respect
Responsibility
Integrity
High Standard
Trust

These five standards of the core principles of the RICS. You must be able to provide examples of where you have used these standards in your day to day work to the assessors.

Role of the RICS

The RICS founded in 1868 aims to provide an independent source of advice, protect consumers, help surveyors to maintain high standards, and is the leading source of information for the Property Industry. Becuase of this MRICS status provides global status, market advantage, and professional competence.

Principles (PACTT)

Proportionality

Accountability (To the Public)

Consistency – Treating members the same

Targetting – Serious breaches

Transparency (To Members, Clients and the Public)

There are 17 specialisms in the surveying profession to date and these can be found HERE

Members have a duty to provide an Ethical and Competitive service, CPD, Solvency, Information, and Corporation

In addition, Firms must provide a Professional Competent Service, CPD, handle Complaints, Clients Money and have adequate Profession Indemnity Insurance cover (You will need to know the basic levels of cover)

Bribery

This features heavily in Ethics, it is important to know and understand what counts as Bribery. These guidelines stem from the Bribery Act 2010.
Important sections of the act:
Section 7 – Failure of Companies/ Organisations to prevent Bribery

Section 9 – Commercial Organisations

Key takeaways:
There must be Proportionality and Top Level commitment
Due Diligence must be undertaken
Communication is key
Ongoing Monitoring and Review of processes is important

Money Laundering

Guidance on Money laundering comes from the 2012 regulations and is policed by HMRC. A Key part of the regulations states no cash is to be accepted over 15,000 Euros.

Finally, Further information on RICS Ethics, Acts and Regulation can be found in Smith and Keenan’s English Law mentioned in Essential Reading