Guidelines on managing conflicts of interest

Managing conflict of interest involves taking proactive steps to identify, address, and mitigate potential conflicts that may arise in various situations. 

TKSG will follow the following general guidelines:

1. Disclosure: Encourage individuals (i.e., delegates) to disclose any conflicts of interest. This allows transparency and helps identify potential issues early on.

2. Policies and Procedures: Establish clear policies and procedures that outline expectations regarding conflicts of interest. This may include guidelines on decision-making processes.

3. Education and Training: Train employees, stakeholders, and relevant parties about conflicts of interest. Educate them on recognizing, avoiding, and appropriately addressing possible disputes.

4. Independence and Impartiality: Encourage objectivity and impartiality in decision-making processes. Ensure that individuals in positions of influence or authority act in the organization's or stakeholders' best interest rather than for personal gain.

5. Ethical Standards: Promote a robust ethical culture within the organization. Encourage employees to adhere to ethical standards and maintain integrity in their actions.

6. Mitigation Strategies: Implement strategies to manage conflicts when they arise. This may include recusing oneself from decision-making processes, establishing independent review committees, or seeking external advice.

7. Regular Reviews: Periodically review and update conflict of interest policies and procedures to adapt to changing circumstances and evolving best practices.

Managing conflicts of interest requires a case-by-case approach, and specific strategies may vary depending on the nature of the organization or situation. We would also consult legal or ethics experts who can provide valuable guidance tailored to your specific circumstances.

Last modified: Saturday, 24 June 2023, 4:57 PM