What are the best practices for disclosing conflicts of interest?
An example of an AI chatbot conversation about best practices for conflict of interest disclosure.
What are the best practices for disclosing conflicts of interest?
Best practices include being transparent, timely, and thorough in your disclosures. Always disclose any potential conflicts to relevant parties.
Can you give me an example of a conflict of interest?
Sure! An example would be if a board member of a nonprofit also owns a company that could benefit from a contract with that nonprofit.
How often should I disclose conflicts of interest?
You should disclose conflicts of interest whenever they arise, and also during annual reviews or when there are significant changes in your circumstances.
What should I do if I'm unsure about a potential conflict?
If you're unsure, it's best to consult with a supervisor or legal advisor to assess the situation and determine the appropriate action.
Are there any legal requirements for disclosing conflicts of interest?
Yes, many organizations have legal requirements for disclosure, especially in public sectors or regulated industries. It's important to be familiar with your organization's policies.
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