IIA-Australia White Paper - Why People Do Not Accurately Disclose Their Conflicts Of Interest
Barry Davidow BCom, BAcc, MTaxLaw, ACA, CFE, CRMA, PFIIA, Advanced Diploma of Government (Management), Diplomas in Risk Management and Business Continuity, Government (Fraud Control), Government (Investigation) and International Financial Management.
Matthew Lyon B.Comm, CPA, MIAA
Non-disclosure and inaccurate disclosure of conflicts of interest have been an issue for as long as disclosure has been required. There are many practical benefits from understanding why people underestimate their conflicts of interest.
There are three significant ways in which people withhold information about conflicts of interest:
These are referred to in this White Paper as the sides of the ‘Conflict of Interest Bermuda Triangle’. Examining the reasons people do not make full disclosures of conflicts of interest will help us improve disclosure systems and internal controls over conflicts of interest.
Level of Assumed Knowledge