Ethics - Safeguards

Question 1

What is the first step a member should take if a conflict of interest is identified?

Answer 1

Notify relevant parties of any actual/potential conflicts of interest

Question 2

What is the second step a member should take if a conflict of interest is identified?

Answer 2

Obtain consent from relevant parties to act

Question 3

If consent to act is refused…

Answer 3

If consent is refused, cease acting for one party involved in the conflict

Question 4

If consent to act is granted…

Answer 4

• use separate engagement teams
• impose procedures to prevent access to information
• issue guidelines to team members, on both engagement teams, in relation to security and confidentiality
• use confidentiality agreements for partners/employees
• regular review of safeguards by senior members of staff not involved with the conflicting engagements

Question 5

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

Answer 5

Consider not accepting/resigning from one engagement