Conflicts of Interest (“COIs”) are among the thorniest issues that organizations and ethics and compliance (“E&C”) professionals face. There are a virtually infinite variety of situations that might create a conflict, existing as they do at the intersection of personal, family, financial and organizational interests. Additionally, because appearances are so important in this area, it is often difficult to draw bright lines. Moreover, actual, apparent, and potential conflicts very often involve family and other personal relationships, triggering various sensitivities, both individual and cultural. Unlike many other E&C-related risks, conflicts of interest are a real possibility for a large number of employees in most organizations.
The report is organized into four sections:
- Defining Conflicts,
- Preventing Conflicts,
- Identifying Conflicts, and
- Dealing with Conflicts.
This report presents the best thinking on managing conflicts from a group of experienced E&C professionals from a variety of industries and organizations.