What is a Conflict of Interest Policy?

A conflict of interest policy documents the procedures a board director must take when there is a conflict between their own personal interests and the best interests of the organization they serve. Such a policy requires a board director with a conflict (as well as those who believe they have a conflict) to disclose said conflict. A conflict of interest policy includes many elements, including: An undisclosed conflict of interest can have serious consequences for an organization. Establishing a conflict of interest policy is a key step to take to reduce the risk of a conflict of interest on a board of directors.

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