Find out the legal and regulatory requirements relating to conflicts of interest and how trustees can identify and manage them.
Trustees have a duty to act in the best interest of their charity. If there’s a decision to be made where a trustee has a personal or other interest, this is a conflict of interest.
In order to comply with their duty and avoid risking their charity’s reputation, trustees should follow the 3 step approach:
- identify a conflict of interest
- deal with a conflict of interest
- record a conflict of interest
This guidance explains how charity trustees can deal with conflicts of interest and prevent them from happening.