When you place your trust in somebody, you expect them to have your best interests in mind. A conflict of interest can collapse trust and confidence for ever.This course is aimed at the South African market which is subject to the FAIS act.
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About this course
What a conflict of interest is and how to avoid it
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This centre's achievements
2021
All courses are up to date
The average rating is higher than 3.7
More than 50 reviews in the last 12 months
This centre has featured on Emagister for 4 years
Subjects
Communication Training
IT risk
Writing
Dismissal
Global
Hospitality
Ethics
Secondary
Options
Governance
Staff
Risk
Corporate Governance
Conflict
Course programme
Introduction to a conflict of interest
3 lectures14:37Part 1 What is a conflict of interest?The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.Part 2: How to handle a conflict of interestThe conflict in a conflict of interest exists whether or not a particular individual is actually influenced by the secondary interest. It exists if the circumstances are reasonably believed (on the basis of past experience and objective evidence) to create a risk that decisions may be unduly influenced by secondary interests."
Identifying a conflict of interest is only the first step.The company should have minimum standards in place to deal with any actual or potential Conflict of Interest situation.It is always wise to record any disclosure in writing and detail what was done to mitigate the situation,There is a broad range of options for avoiding or mitigating a conflict of interest in relation to the affected person/s.The options (listed roughly in order of lowest to highest severity) include:· Taking no action· Enquiring as to whether all affected parties will consent to the conflict of interest being present by seeking a formal exemption to allow participation· Imposing additional oversight or review over the affected person· Re-assigning certain tasks or duties to another person;· Getting an agreement or direction not to do something· Resignation or dismissalIn terms of Corporate Governance you need to have policies and procedures such as:Staff dealing policy and procedures:· Training to staff on awareness about conflict of interests that can arise in everyday life with relation to the company.· Continual disclosure for staff and management concerning potential conflicts relating to past and present clients and at prior or future places of employment, but not confidential information· Employees and management are required to notify the company of any outside interest which could result in their being induced to act in a manner which is not in a customer’s best interests· A global gifts and hospitality policy and register:Both the giving and receiving of gifts and hospitality have an important role in facilitating business practice. A meal out with a supplier can help build a relationship; A pen with your firm’s name on it can remind a customer of you when they need a quote.A policy on the giving and receiving of gifts and hospitality should be consistent with other aspects of the organisation’s ethics policy in encouraging high standards of personal honesty and integrity.A gifts and hospitality policy sets out:· what cannot be accepted or given· what should be recorded· how staff can seek further guidanceThe policy should be particularly specific with regard to monetary gifts, for example that which could be considered a facilitation payment is illegal under anywhere in the world.Employees and management should not permitted to accept or offer gifts or any other inducements without appropriate management approval, in relation to:· any service provided to a client, or· any service received from a supplierChinese walls- a business term describing an artificial information barrier within an organization erected to prevent exchanges or communication that could lead to a conflict of interest.Part 3: Handling the conflict of interestThe presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board. The conflict in a conflict of interest exists whether or not a particular individual is actually influenced by the secondary interest. It exists if the circumstances are reasonably believed (on the basis of past experience and objective evidence) to create a risk that decisions may be unduly influenced by secondary interests."
Introduction to a conflict of interest.
3 lectures14:37Part 1 What is a conflict of interest?The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.Part 2: How to handle a conflict of interestThe conflict in a conflict of interest exists whether or not a particular individual is actually influenced by the secondary interest. It exists if the circumstances are reasonably believed (on the basis of past experience and objective evidence) to create a risk that decisions may be unduly influenced by secondary interests."
Identifying a conflict of interest is only the first step.The company should have minimum standards in place to deal with any actual or potential Conflict of Interest situation.It is always wise to record any disclosure in writing and detail what was done to mitigate the situation,There is a broad range of options for avoiding or mitigating a conflict of interest in relation to the affected person/s.The options (listed roughly in order of lowest to highest severity) include:· Taking no action· Enquiring as to whether all affected parties will consent to the conflict of interest being present by seeking a formal exemption to allow participation· Imposing additional oversight or review over the affected person· Re-assigning certain tasks or duties to another person;· Getting an agreement or direction not to do something· Resignation or dismissalIn terms of Corporate Governance you need to have policies and procedures such as:Staff dealing policy and procedures:· Training to staff on awareness about conflict of interests that can arise in everyday life with relation to the company.· Continual disclosure for staff and management concerning potential conflicts relating to past and present clients and at prior or future places of employment, but not confidential information· Employees and management are required to notify the company of any outside interest which could result in their being induced to act in a manner which is not in a customer’s best interests· A global gifts and hospitality policy and register:Both the giving and receiving of gifts and hospitality have an important role in facilitating business practice. A meal out with a supplier can help build a relationship; A pen with your firm’s name on it can remind a customer of you when they need a quote.A policy on the giving and receiving of gifts and hospitality should be consistent with other aspects of the organisation’s ethics policy in encouraging high standards of personal honesty and integrity.A gifts and hospitality policy sets out:· what cannot be accepted or given· what should be recorded· how staff can seek further guidanceThe policy should be particularly specific with regard to monetary gifts, for example that which could be considered a facilitation payment is illegal under anywhere in the world.Employees and management should not permitted to accept or offer gifts or any other inducements without appropriate management approval, in relation to:· any service provided to a client, or· any service received from a supplierChinese walls- a business term describing an artificial information barrier within an organization erected to prevent exchanges or communication that could lead to a conflict of interest.Part 3: Handling the conflict of interestThe presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board. The conflict in a conflict of interest exists whether or not a particular individual is actually influenced by the secondary interest. It exists if the circumstances are reasonably believed (on the basis of past experience and objective evidence) to create a risk that decisions may be unduly influenced by secondary interests."Part 1 What is a conflict of interest?The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.Part 1 What is a conflict of interest?The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.Part 1 What is a conflict of interest?The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.Part 1 What is a conflict of interest?The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.The presence of a conflict of interest is not in itself an indication of dishonesty. If the conflict of interest can be discovered and voluntarily defused before any action occurs which is affected by the conflict then the situation is ethical and above board.Part 2: How to handle a conflict of interestThe conflict in a conflict of interest exists whether or not a particular individual is actually influenced by the secondary interest. It exists if the circumstances are reasonably believed (on the basis of past experience and objective evidence) to create a risk that decisions may be unduly influenced by secondary interests."
Identifying a conflict of interest is only the first step.The company should have minimum standards in place to deal with any actual or potential Conflict of Interest situation.It is always wise to record any disclosure in writing and detail what was done to mitigate the situation,There is a broad range of options for avoiding or mitigating a conflict of interest in relation to the affected person/s.The options (listed roughly in order of lowest to highest severity) include:· Taking no action· Enquiring as to whether all affected parties will consent to the conflict of interest being present by seeking a formal exemption to allow participation· Imposing additional oversight or review over the affected person· Re-assigning certain tasks or duties to another person;· Getting an agreement or direction not to do something· Resignation or dismissalIn terms of Corporate Governance you need to have policies and procedures such as:Staff dealing policy and procedures:· Training to staff on awareness about conflict of interests that can arise in everyday life with relation to the company.· Continual disclosure for staff and management concerning potential conflicts relating to past and present clients and at prior or future places of employment, but not confidential information· Employees and management are required to notify the company of any outside interest which could result in their being induced to act in a manner which is not in a customer’s best interests· A global gifts and hospitality policy and register:Both the giving and receiving of gifts and hospitality have an important role in facilitating business practice. A meal out with a supplier can help build a relationship; A pen with your firm’s name on it can remind a customer of you when they need a quote.A policy on the giving and receiving of gifts and hospitality should be consistent with other aspects of the organisation’s ethics policy in encouraging high standards of personal honesty and integrity.A gifts and hospitality policy sets out:· what cannot be accepted or given· what should be recorded· how staff can seek further guidanceThe policy should be particularly specific with regard to monetary gifts, for example that which could be considered a facilitation payment is illegal under anywhere in the world.Employees and management should not permitted to accept or offer gifts or any other inducements without appropriate management approval, in relation to:· any service provided to a client, or· any service received from a supplierChinese walls- a business term describing an artificial information barrier within an organization erected to prevent exchanges or communication that could lead to a conflict of interest.Part 2: How to handle a conflict of interestThe conflict in a conflict of interest exists whether or not a particular individual is actually influenced by the secondary interest. It exists if the circumstances are reasonably believed (on the basis of past experience and objective evidence) to create a risk that decisions may be unduly influenced by secondary interests."
Identifying a conflict of interest is only the first step.The company should have minimum standards in place to deal with any actual or potential Conflict of Interest situation e company.· Continual disclosure for...