(1) In order to safeguard life, health and property, to promote the public welfare, and to establish and maintain a high standard of integrity and practice, the following rules are binding on all licensees.

(a) The board requires that all licensees uphold and advance the honor, integrity and dignity of their engineering and surveying professions within the ethical standards encompassed in this chapter.

(b) All licensees are required to have knowledge of the laws and rules of their profession and shall understand them. Such knowledge shall encompass the understanding that the practice of engineering and land surveying is a privilege, as opposed to a right.

(2) All licensees shall insure that their communications with others will be clear, complete, accurate, objective, truthful and timely. This includes the report of errors, omissions, mistakes and their remedy when appropriate.