Guam Conflict of Interest Policy
Description
How to fill out Conflict Of Interest Policy?
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FAQ
A conflict of interest may lead to legal ramifications as well as job loss. However, if there is a perceived conflict of interest and the person has not yet acted maliciously, it's possible to remove that person from the situation or decision in which a possible conflict of interest can arise.
A Conflict of Interest arises when a financial or other personal interest, activity, or relationship may reasonably be expected to compromise an Employee's judgment in carrying out University responsibilities. All employees have an ongoing duty to disclose any conflict when it arises.
What is a Conflict of Interest? A conflict of interest occurs when an individual's personal interests family, friendships, financial, or social factors could compromise his or her judgment, decisions, or actions in the workplace. Government agencies take conflicts of interest so seriously that they are regulated.
5 tips for dealing with conflicts of interestEstablish a process. The best way to handle a conflict of interest is to already have a process in place to manage it.Get the conflict of interest out into the open.Training is valuable.Declare your interests.Think about the conflicts of others.
You may file your Conflict of Interest - Contracts statement online or by submitting a paper copy. If you wish to submit a paper copy, you may download the statement here. The completed, signed statement may be mailed or delivered in person to the address of the Office of the Inspector General listed on the form.
The conflict of interest form should indicate whether the employee or board member has an economic interest in or acts as an officer or a director of any outside entity whose financial interest would reasonably appear to be affected.
Students should make a conflict of interest disclosure as soon as there's a risk that a conflict or potential conflict might arise that is, as soon as you recognise that a potential conflict might be perceived.
An employee must promptly disclose actual or potential conflicts of interest, in writing, to the Executive Director. The Executive Director will then determine whether approval is granted. If the Executive Director must disclose a potential conflict he or she must report to the Board President.
Employees must declare any private, financial or other interests of their immediate family (including spouses/partners and children) that they are aware of that could, or could be seen to, influence the decisions or actions they take or the advice they provide in the course of their official duties.
Disclosing an interest If you find yourself in a position of an actual, potential or a perceived conflict of interest you must declare it so that action can be taken to assess the risk and, where required, to manage or mitigate it.
