Conflict of Interest Policy (Not For Profit)
This Conflict of Interest Policy helps charities manage any conflicts of interests their board members may have.
5.0 (1 reviews)
Last updated October 16, 2024
Under 10 minutes
Suitable for Australia
Written by
Edwin Montoya Zorrilla
Reviewed by
Damin Murdock
Document Overview
This policy helps charities manage any conflicts of interests their board members may have. It outlines a process for disclosing conflict of interests so that the integrity of the charity is maintained. This policy also helps to ensure compliance with Governance Standard 5 as set by the Australian Charities and Not-for-profits Commission.
This policy was adapted from the website of the Australian Charities and Not-for-profits Commission.
The Legal Risk Score of a Conflict of Interest Policy (Not For Profit) Template
Our legal team have marked this document as low risk considering:
- It is easy to change.
- It is a very commonplace document.
Conflict of Interest Policy (Not For Profit) Checklist
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Keep the document readily available
Employees and managers should have the document handy as an easy reference for their obligations.
Use this Policy if:
- You need to create a process for disclosure of any conflicts of interest your board members may have;
- You want to ensure that board members are aware of their obligations regarding any conflict of interest;
- Your charity needs clarity on how to record and monitor any disclosed conflicts of interest;
- You want to clarify what constitutes a conflict of interest;
- You would like to communicate how any disclosed conflicts of interest are managed, and establish relevant sanctions for a breach;
- You seek to comply with obligations placed on responsible persons governing a charity by the Australian Charities and Not-for-profits Commission.
What does this Policy cover?
- Clarification of what constitutes a conflict of interest;
- Establishes the board’s responsibility to manage conflicts of interest;
- The process for identifying and declaring any conflict of interest;
- Confidentiality of disclosures;
- The actions required to manage conflicts of interest once disclosed, and the relevant factors to consider when deciding what action to take;
- Actions for breach of the policy.
Further information:
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