How do I create a conflict of interest policy?

How do I create a conflict of interest policy?

Creating a conflict of interest policy involves identifying potential conflicts, outlining procedures, and ensuring transparency.

What key elements should be included in the policy?

Key elements include definitions of conflicts, disclosure requirements, procedures for handling conflicts, and enforcement measures.

How can I ensure employees understand the policy?

You can ensure understanding by providing training sessions, clear documentation, and regular reminders about the policy.

What are the consequences of not having a conflict of interest policy?

Without a policy, organizations risk legal issues, damage to reputation, and loss of trust among stakeholders.