IIA-Australia White Paper - Controlling Potential Conflict of Interest
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Barry Davidow Bcom, BAcc, MTaxLaw, ACA, CFE, CRMA, PFIIA
|The purpose of this White Paper is to explain the confusion and misconceptions that surrounds potential conflicts of interest, explain why many of the widely used controls are counterproductive and clarify how these conflicts can be effectively controlled.
If the process many organisations use for controlling conflicts of interest is not improved, it will continue to cause significant levels of confusion. This leads to poor disclosure and management not only of potential conflicts of interest, but of all types of conflicts of interest.
Potential conflicts of interest are generally poorly controlled because of the significant confusion resulting from:
A separate system for annual declarations of personal interests that leads to misunderstandings
Level of Assumed Knowledge