What are the Civil Service Code Core Values?
- Integrity
- Honesty
- Objectivity
- Impartiality
These values guide the conduct of civil servants in their duties.
What are the RICS Regulations for Members and Firms?
- Proportionality
- Accountability
- Consistency
- Targeting
- Transparency
These regulations ensure fair treatment and accountability within the profession.
What are the VOA Strategic Objectives?
- Trusted Valuations
- Excellent customer experience
- Be a great place to work
These objectives aim to enhance the effectiveness and reputation of the VOA.
What are HMRC Strategic Objectives?
- Close the tax gap
- Improve day-to-day performance and overall customer experience
- Reform and modernisation of tax and customs administration
- Build a high-performing organisation, with a skilled and engaged workforce
- Support wider government economic aims through HMRC’s work
These objectives focus on efficiency and effectiveness in tax administration.
What RICS document relates to ethics and rules?
RICS Professional Statement: Statement of Ethical Principles and Rules of Conduct
This document outlines the ethical standards expected of RICS members.
What are the 5 Rules of Conduct?
- Honesty, integrity, comply with professional obligations
- Professional competence, necessary expertise
- Good quality diligent service
- Respect, diversity, inclusion
- Public interest, responsibility
These rules guide members in their professional conduct.
What are the Professional obligations for members?
- Comply with CPD requirements
- Cooperate with RICS
- Promptly provide information requested by Standards and Regulations Board
These obligations ensure members maintain professional standards.
What are the Professional obligations for firms?
- Cooperate with RICS
- Promptly provide information requested by Standards and Regulations Board
- PII cover
- Complaints handling procedure
- LOCUM agreement
- RICS designation displayed on all work
- Report to RICS any required matter
These obligations help firms operate within regulatory frameworks.
When should you decline work?
- Not competent
- Insufficient facts
- Client will not sign TOE
- Conflict of Interest
- PII cap cannot be agreed
- Pro-bono / PII not covers
Declining work is essential to maintain professional integrity.
Is there any RICS guidance on conflicts?
RICS Global Professional Standard Conflicts of Interest 2017
This guidance provides a framework for managing conflicts of interest.
What are the three types of conflict?
- Own interest
- Party conflict
- Confidential information
Understanding these conflicts is crucial for ethical practice.
What are the steps to set up a new practice?
- Inform RICS
- Appoint contact officer
- Arrange PII, Employer’s & Public liability, building insurance
- Client’s money handling procedure
- Registered Valuer Scheme
- Locum agreement
- Set up complaints log
- Appoint complaints handling officer
- Logo kit & regulated by RICS
- CPD log online
- Staff training plan
- RICS Annual Return
These steps ensure compliance and effective operation of the practice.
Is there any RICS guidance on complaints?
RICS Professional Standard - Complaints Handling 2016
This guidance outlines the procedures for handling complaints.
What are the complaints handling requirements?
- Procedure must be approved by RICS
- Always notify insurer asap
- Issued to client via TOE
- Maintain complaint log
- Include RICS approved ADR mechanism
These requirements ensure transparency and accountability in handling complaints.
What are the Client Money Protection Scheme Rules?
Operated by RICS and mandatory for firms handling client money
These rules protect client funds and ensure proper handling.
What are the RICS Firms procedures for client money?
- Clearly identify employees’ duties
- Staff with expertise should process client’s money
- Allocate a principal to oversee client money
- Accounting systems and data must be secure
- Client money must be kept separately
- Clients must have access to funds
- Firms must agree terms and bank details with client
- Account must not be overdrawn
- Maintain client transactions and provide running balance
These procedures ensure the safe handling of client funds.
Is there any RICS guidance on client money?
RICS Professional Standard Client Money Handling, 1st Edition 2019
This guidance provides standards for managing client money.
What are the areas of good practice for client money handling?
- Holding client money
- Providing information to clients
- Keeping receipts of client money
- Payments from client accounts
- Accounting records and controls
- Compliance
These practices help ensure ethical and legal compliance in handling client funds.
What are the requirements of firms client money handling?
- Money must be held in a separate account
- The account must only include money paid by the client
- The account must be named with the word ‘client’
- The account must not be overdrawn
- Money must always be available to the client
- Client money should be protected
- Payments require written confirmation
These requirements ensure the integrity of client funds.
What are the main types of financial statement?
- Balance sheet
- Profit and loss account (income statement)
- Cash flow statement
- Statement of changes in equity
These statements provide a comprehensive view of a firm’s financial health.
What legislation governs bribery?
Bribery Act 2010
This act outlines the legal framework for addressing bribery in the UK.
What are the 4 offences under the Bribery Act?
- Giving a bribe
- Receiving a bribe
- Bribing a foreign official
- Failure to prevent a bribe
Understanding these offences is crucial for compliance with the law.
What are the 6 Principles of Bribery?
- Proportionate procedures
- Top level commitment
- Risk Assessment
- Due Diligence
- Communication
- Monitor and Review
These principles guide organizations in preventing bribery.
Is there any RICS guidance linked to bribery?
RICS Professional standard – Countering bribery and corruption, money laundering and terrorist financing, (2nd edition) 2025
This guidance provides standards for ethical conduct regarding bribery.
