If the process many organisations use for controlling conflicts of interest is not improved, it will continue to cause significant levels of confusion. This leads to poor disclosure and management not only of potential conflicts of interest, but of all types of conflicts of interest.
Potential conflicts of interest are generally poorly controlled because of the significant confusion resulting from:
- Vague definitions
- Bewildering examples
- People having little knowledge of many personal interests that could give rise to potential conflicts of interest
- Unclear instructions about re-disclosure when potential conflicts become real or apparent conflicts of interest
- Potential conflicts being seen as less serious than other types of conflicts of interest.
A separate system for annual declarations of personal interests that leads to misunderstandings.