Conflict of interest: Difference between revisions
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Conflicts of interest should normally be avoided altogether. | Conflicts of interest should normally be avoided altogether. | ||
For example the Association of Corporate Treasurers | For example the ethical guidance of the Association of Corporate Treasurers (ACT) defines the fundamental principle of integrity to include: | ||
"avoiding conflict between the member’s private self-interest and that of his employer or clients" | "avoiding conflict between the member’s private self-interest and that of his employer or clients" | ||
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* [[Connected person]] | * [[Connected person]] | ||
* [[Independence]] | * [[Independence]] | ||
* [[Independent]] | |||
* [[Integrity]] | * [[Integrity]] | ||
* [[Interest]] | * [[Interest]] | ||
* [[Public interest]] | |||
* [[Related party transaction]] | |||
[[Category:Compliance_and_audit]] | |||
[[Category:The_business_context]] | |||
Latest revision as of 01:22, 5 August 2024
A situation in which an individual or an organisation has multiple duties or interests which threaten the independence or integrity of their professional work.
Examples of conflicts of interest include being the auditor of a company with which the auditor is connected through a personal or family interest.
Conflicts of interest should normally be avoided altogether.
For example the ethical guidance of the Association of Corporate Treasurers (ACT) defines the fundamental principle of integrity to include:
"avoiding conflict between the member’s private self-interest and that of his employer or clients"
In certain limited circumstances, it may be possible to deal with some types of conflict of interest by disclosure and appropriate management.
