Conflict of Interest Policy (Charities)This Conflict of Interest Policy helps charities manage any conflicts of interests their board members may have.
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.
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.