How do you manage conflicts of interest?
11 Key Steps for Trustees, 1 Giant Leap for your Charity: Month 11
We have now reached month 11 of our 2018 governance guide which helps trustees to manage conflicts of interest within their charity.
Step 11: Conflicts of interest
All trustees have a legal duty to act only in the best interests of the charity. Trustees’ personal and professional connections can bring benefits to the work of a charity, often forming part of the reason why an individual was asked to join the trustee body. However, those same reasons can give rise to conflicts of interest.
Did you know: Trustees can be conflicted due to their wider family, their own business interests and their wider family’s business interests.
In reality, many trustees may end up with a conflict – the key is to be aware of and manage them effectively. This article covers how to identify conflicts of interest, prevent them from affecting decision making and record them accurately.Read month 11: Conflicts of interest
Look out for our final blog in the series in December. In the meantime you can refresh your memory of any of the previous ten topics below:
- Finding New Trustees
- Internal Financial Controls
- Collaborative Working and Mergers
- Trustee meetings and Decision Making
- Trading and Tax
- Campaigning, Lobbying and Political Activity
- Risk Management
- Trustee Expenses
- Charity Fundraising
If you require further advice on Conflicts of Interest, please contact our Charity and Not for Profit team on 01903 234094.