Conflict of Interest Policy

A conflict of interest policy is a document that outlines the procedures for identifying, disclosing, and managing situations where an individual’s personal or professional interests may conflict with their duties to the corporation. The policy typically applies to directors, officers, and employees of the corporation, and may also extend to their family members and close associates. It requires individuals to disclose any potential conflicts of interest, such as financial interests in competing companies or personal relationships with business partners, and to recuse themselves from any decisions or actions that may be affected by the conflict. The policy may also specify the consequences for violating the policy, such as disciplinary action or termination of employment. A conflict of interest policy is an important tool for promoting transparency, integrity, and accountability within the corporation.