Chapter 10 - 4.2 - Safeguards

Question 1

If a conflict on interest is identified, what is the first step a member should take?

Answer 1

Notify relevant parties of any actual/potential conflicts of interest

Question 2

If a conflict on interest is identified, what is the second step a member should take?

Answer 2

Obtain consent from relevant parties to act

Question 3

What should a member do if consent is refused?

Answer 3

Cease acting for one party involved in the conflict

Question 4

What is the first thing a member do if consent is granted?

Answer 4

Use separate engagement teams

Question 5

What is the second thing a member do if consent is granted?

Answer 5

Impose procedures to prevent access to information

Question 6

What is the third thing a member do if consent is granted?

Answer 6

Issue guidelines to team members, on both engagement teams, in relation to security and confidentiality

Question 7

What is the fourth thing a member do if consent is granted?

Answer 7

Use confidentiality agreements for partners/employees

Question 8

What is the fifth thing a member do if consent is granted?

Answer 8

Regular review of safeguards by senior members of staff not involved with the conflicting engagements

Question 9

What should the member do if the conflict cannot be resolved?

Answer 9

Consider not accepting/resigning from one engagement