conflict of interest

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conflict of interest

A situation in which a person's or group's private interests may potentially be or come to be in opposition or conflict with their public or official role. A: "I heard that officer was removed from the case due to a conflict of interest." B: "Yeah, his cousin is now one of the suspects."
See also: conflict, interest, of

conflict of ˈinterest(s)

a situation in which there are two jobs, aims, roles, etc. and it is not possible for both of them to be treated equally and fairly at the same time: There was a conflict of interest between his business dealings and his political activities.
See also: conflict, interest, of
References in periodicals archive ?
Here are four other types of conflicts of interest that may arise in your company:
Conflicts of interest can arise at any time during the client service process.
Nick Ramsay, who chairs the Public Accounts Committee, said: "I am concerned about the conflicts of interest which both the Welsh Government and its delivery company, the Energy Saving Trust, were aware of, but failed to manage to an acceptable level.
Finally, CPAs should note that conflicts of interest fall under the code's Integrity and Objectivity Rule, not the Independence Rule.
This letter outlines that, in order to identify and manage conflicts of interest, a strong culture of compliance is essential to ensure that the best interest of the client is not negatively impacted.
The paper says regulations in many jurisdictions cover conflicts of interest with varying levels of detail.
While real estate firms that are publicly traded or registered as broker-dealers fall under the purview of the SEC and its fairly strict audits, non-institutional firms usually have little to no legal requirement to prevent conflicts of interest, according to Shapiro.
OVER THE years in the optical sector there have been many examples of potential conflicts of interest. Think, for example, of optometric advisers in the days of former PCTs being responsible for decisions made in respect of practices that were also competitors of their own private practice.
Pension Investment Consultants: A Report for Fiduciaries, Internal Audit and Risk Management Professionals." The January 2013 report discusses findings with respect to pension investment consultants concerning business structures and other business practices that may result in conflicts of interest.
Conflicts of Interest and the Future of Medicine: The United States, France, and Japan.
A new federal rule on conflict of interest provides a framework for identifying, managing and ultimately avoiding researchers' financial conflicts of interest.
The European Commission should improve its rules for the handling of possible conflicts of interest involving the tasks of special advisers and their outside activities, said the European Ombudsman, P.
A law firm in the United Kingdom is using a search-powered solution to eliminate the hazard of conflicts of interest. Davies Arnold Cooper (dac.co.uk) chose Recommind's (recommind.com) MindServer Search platform to search all key business applications firmwide--including document, practice and case management systems and databases--to find potential conflicts.
The AICPA Code of Professional Conduct is clear: "In the performance of any professional service, a member shall maintain objectivity and integrity, shall be free of conflicts of interest, and shall not knowingly misrepresent facts or subordinate his or her judgment to others" (Code of Professional Conduct Rule 102).
College-level audiences receive details on identifying, limiting and managing conflicts of interest through short-term actions and long-term programs by institutions and individuals alike, and makes recommendations on risk prevention and structure which are key to any college-level collection strong in medical ethics debates.