Why a Conflict of Interest Policy is a must-have!

A conflict of interest is a common factor in fraud cases, with organisations losing an average of 5% of their revenue.¹ As a professional, you know that meeting your clients’ needs is your top priority. But what happens when your personal interests conflict with your organisations? The consequences can be dire – just ask former Old Mutual CEO Peter Moyo, who found himself embroiled in a legal battle because of a conflict of interest.

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To prevent a similar situation in your organisation, it’s essential to have a comprehensive and transparent Conflict of Interest Policy. Not only does it maintain ethical standards, but it also eliminates the defence that an employee was unaware of their conduct creating a conflict of interest, which is crucial in the courts.

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In an economy where 70% to 80% of market value comes from hard-to-assess intangible assets such as brand equity, intellectual capital, and goodwill, organisations are especially vulnerable to anything that damages their reputation.²

With the support of TPN’s specialist panel attorneys, and legally compliant documentation, you can navigate current labour laws with ease and safeguard your organisation’s reputation. Don’t wait until it’s too late!