6516 BEKL PROFESSIONAL PRACTICE STUDIES

Professional Practice Studies. Seminar.

Professional Ethics and Codes of Practice. Case Studies

Question 1.

A valuation is undertaken of a development site and information as to consents is provided

by the client and relied upon by the valuer. The valuation is undertaken and reported for use
by the client in reporting the value of its portfolio for International Financial Reporting
Standards (IFRS). One year later the property is revalued for the same purpose and it
transpires that the information provided by the client was false; the ethical issue is what
course of action to take given confidentiality provisions, professional ethics and a duty to a
wider public.

Question 2.

I am about to undertake my Assessment of Professional Competence (APC) in order to

become a full RICS member. However, I am well and truly behind, mainly as a result of a close
family friend becoming ill. A good friend who undertook and passed the APC last year has
offered to let me use copies of the case studies that he produced and submitted to the
evaluation panel as a part of his own APC. If I accept I would have more time to focus on
preparing for the APC interview.

Question 3.

My manager has asked me to deal with a task in relation to a contract in a way that I am
uncomfortable with. Carrying out the task in this way seems wrong to me and I believe the
approach being suggested by my manager may even be illegal in some of the jurisdictions in
which we do business. I have been thinking about speaking to a senior manager in another
department for advice, but Im not sure if I should. I feel as though I should tell someone who
can look in to this, but Im afraid that my line manager will make my job difficult for me and
possibly take me off the contract if they find out that Ive spoken to someone else.
Question 4.

Youve been using a sub-contractor in a country where you are managing a project. Youve
worked with this particular sub-contractor many times and you know you can trust them to
do a good job and well within budget. You then hear an allegation that the sub-contractor
has knowingly employed illegal immigrants who are being paid well below market value for
their work.

Question 5.

My firm has a potential conflict of interest but I cannot disclose the specific details of this to
all parties without breaking confidentiality. I believe that we may be attempting to advise
two separate clients who are opposed on the same potentially contentious matter.

Question 6.

Explain and provide examples of the followings:-

a. 5 basic assumptions that underpins understanding of professional ethics;
b. Matters to be considered when faced with ethical dilemma; and
c. RICS list and produced a set of 5 main global professional and ethical
standards to be followed by members of the profession.

Guide in answering your Seminar.

Provide an overview for each
question;
Answer in accordance with what the question requires. List out what the
question wants and analyse each point. Also provide examples.
Highlight references from RICS Guidance Notes, BOVAE Act or Malaysian
Valuation Standards.
Marks given for every question acts as a guidance on the number of pages or the
length of answers needed.

Submission Date : Week 6