COMMUNITY ASSOCIATIONS INSTITUTE PROFESSIONAL RESERVE SPECIALIST (RS) CODE OF ETHICS
The Reserve Specialist shall:
1. Comply with current standards and practices as may be established from time to time by CAI, subject
to all federal, state and local laws, ordinances and regulations, if any, in effect where the RS designee
practices.
2. Participate in continuing professional education through CAI and other industry related organizations
as required.
3. Act in the best interests of the client; refrain from making inaccurate or misleading representations or
statements; and not knowingly misrepresent facts to benefit the Specialist.
4. Undertake only those engagements that he/she can reasonably expect to perform with professional
competence.
5. Exercise due care and perform planning and supervision as specified in the written client
engagement agreement.
6. Disclose all relationships in writing to the client regarding any actual, potential or perceived conflicts
of interest between the Specialist and other parties, including, but not limited to, management
companies, insurance carriers, contractors and legal counsel.
7. Provide written disclosure of any compensation, gratuity or other form of remuneration from
individuals or companies who act or may act on behalf of the client.
8. Conduct himself or herself in accordance with the Reserve Specialist requirements.
9. Not represent to anyone as being a Reserve Specialist designee until such time as he or she receives
written confirmation from the Reserve Specialist Designation Review Board or CAI of receipt of the
designation;
10. Recognize that the original records, files, plats and surveys held by the Reserve Specialist are the
property of the client and are to be returned to the client at the end of the Specialist’s engagement;
maintain the duty of confidentiality to all current and former clients.
11. Refrain from criticizing competitors or their business practices; act in the best interests of his/her
employers; maintain a professional relationship with peers and industry related professionals.
12. Conduct himself/herself in a professional manner at all times when acting in the scope of his/her
employment.
13. Not engage in any form of price fixing, anti-trust, or anti-competition.
14. Not use the work products of colleagues or competing reserve study firms that are considered
proprietary without the expressed written permission of the author or the reserve study firm.
15. Abide by the re-designation policy of CAI.
Compliance with the Professional Reserve Specialist Code of Ethics is further reinforced by the Code Clarification Document provided by the Community Associations Institute. This document offers additional insights and guidelines, ensuring that professionals conducting reserve studies adhere to high ethical standards. This resource is available on the Community Associations Institute’s website. www.caionline.org
