A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, one of which could possibly corrupt the motivation or decision-making of that individual or organization. The concept of having personnel sign a conflict of interest statement has become one of the tools used to manage an organization’s control environment and ethics process.
A conflict of interest exists if the circumstances are reasonably believed to create a risk that a decision may be unduly influenced. The belief can be based on experience or objective evidence. There are critical concepts related to the conflict of interest process that organizations must understand.
This course is designed to provide the learner with the opportunity to re-examine the concept as it is applied in their organization. We also discuss potential COI scenarios and elements that should be included in a COI policy.
Learning Objectives
- Explore the definition of conflict of interest (COI).
- Explore key principles of a conflict of interest.
- Discover how the concept of conflict of interest applies to business.
- Discover examples of conflict of interest.
- Identify components to include in your conflict of interest policy.
- Explore how to properly manage and avoid conflict of interest.
Included In Certifications
This course is included in the following Certification Programs:
13 CoursesEthical Leadership Certification
- History of Ethics
- Ethics and the Psychology Behind the Concept - Part 2
- COSO 2013 Control Environment
- Today’s Corporate Ethical Culture - An updated course
- Managing Through Corporate Politics
- Real World Business Ethics Scenarios
- Relationship between Ethics, Morality, and the Law
- Impact of Ethics on Leadership
- Framework for Ethical Decision Making
- Keys to an Effective Code of Conduct
- Keys to Understanding Conflicts of Interest
- Whistleblower Hotlines - History and Regulations
- Whistleblower Hotlines - Effective Management
15 CoursesManagement Oversight, Analysis and Internal Controls Certification
- Management Internal Control Essentials
- Comprehensive Examination of COSO 2013: Components and Principles
- Keys to an Effective Code of Conduct
- Fraud Risk Assessments
- Enterprise Risk Management 101
- Identifying and Implementing the Proper Balance of Internal Controls
- Information Technology (IT) Controls in Emerging Business Environments
- Analyzing Financial Ratios - Solvency, Liquidity and Debt
- Analyzing Financial Ratios - Leverage
- Effectively Managing and Controlling Travel and Entertainment (T&E) Expenses
- Keys to Understanding Conflicts of Interest
- Documentation Methods For Internal Control Processes
- Segregation of Duties for Core Business Processes
- Professional Skepticism - Keys to Maintaining
- Whistleblower Hotlines - Effective Management
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Prerequisites
No Advanced Preparation or Prerequisites are needed for this course, but completion of the instructor's other courses on ethics may be helpful.
Engaging and detailed lecture. Recommended!