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A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, one of which could possibly corrupt the motivation or decision-making of that individual or organization. The concept of having personnel sign a conflict of interest statement has become one of the tools used to manage an organization’s control environment and ethics process.

A conflict of interest exists if the circumstances are reasonably believed to create a risk that a decision may be unduly influenced. The belief can be based on experience or objective evidence. There are critical concepts related to the conflict of interest process that organizations must understand.

This course is designed to provide the learner with the opportunity to re-examine the concept as it is applied in their organization. We also discuss potential COI scenarios and elements that should be included in a COI policy.

Learning Objectives

  • Explore the definition of conflict of interest (COI).
  • Explore key principles of a conflict of interest.
  • Discover how the concept of conflict of interest applies to business.
  • Discover examples of conflict of interest.
  • Identify components to include in your conflict of interest policy.
  • Explore how to properly manage and avoid conflict of interest.
Last updated/reviewed: February 09, 2018

Included In Certifications

This course is included in the following Expert Certifications:

15 CoursesEthical Leadership Certification

  1. History of Ethics
  2. Psychology Behind Ethics: Part 1
  3. Psychology Behind Ethics: Part 2
  4. COSO 2013 Control Environment Compliance
  5. Corporate Ethics
  6. Managing Through Corporate Politics
  7. Real World Business Ethics Scenarios
  8. Relationship between Ethics, Morality, and the Law
  9. Impact of Ethics on Leadership
  10. Traits and Skills of the Ethical Leader
  11. Framework for Ethical Decision Making
  12. Keys to an Effective Code of Conduct
  13. Keys to Understanding Conflicts of Interest
  14. When The Whistle Blows Part 1: History, Regulations, and Concepts
  15. When The Whistle Blows Part 2: Managing Whistleblower Hotlines

17 Reviews (93 ratings)Reviews

3
Anonymous Author
It is really important for companies to navigate potential conflicts of interest and this course provides a good framework.
5
Member's Profile
Interesting and easy to follow. Taught some topics that I had doubts on.
3
Member's Profile
The course was pretty basic. It adequately covered the material and was easy to follow. A couple of times the instructor seemed to get confused between a conflict of interest and a general ethical dilemma that did not involve conflicting interests. She also listed board of directors (who represent the owners) being conflicted if he owns significant stock in the company. Some hold this view, but it is controversial, as the stock ownership simply makes him a part of the group he is representing - akin to a congressman living in his district.
5
Member's Profile
Conflict of Interest has wide range of implications and is discussed in great detail here by Lynn. She is a wonderful presenter and I recommend this ethics course along with all her other classes on ethics.
4
Member's Profile
Forward thinking, common sense and a good moral compass puts you on the road to making sense of these concepts. In the end, it's not nearly as complicated as originally perceived. Thank you !
5
Member's Profile
I enjoyed the course. It gave me a greater understanding than before of examples of and solutions to conflicts of interest. Great webinar overall.
4
Member's Profile
I liked the use of examples. The materials and instructor always referred to management and boards in the male form which was bothersome.
5
Member's Profile
Examples and quizs across the course are helpful for understanding the subject. Tricky questions in final exam pose some good challenge.
5
Member's Profile
This was a solid introduction to managing conflicts of interest. These are important things to keep in mind.
5
Member's Profile
It enjoyed all of the examples of conflict of interest. it made the lesson easier to follow.
3
Member's Profile
Liked the fact that it was broken up in sections so I could listen over a period of days.
5
Member's Profile
The course is well organized and the material clearly explained by the instructor.
5
Member's Profile
Good course that appeared to cover the topic completely and in a clear manner.
4
Member's Profile
Pace of the course was appropriate and slides were well done
5
Member's Profile
Like all her course, excellent, clear, and concise.
5
Anonymous Author
Good overview and refresher course.
4
Anonymous Author
Great course

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course, but completion of the instructor's other courses on ethics may be helpful.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  2:49Introduction to Keys to Managing Conflict of Interest
Understanding Conflict of Interests
  8:38Conflict of Interest Definition
  7:24 Key Principles of Conflict of Interest
  13:44COI In Business
  7:36COI for Boards and Senior Leaders
  5:29Examples
  11:24COI Scenarios
  15:12COI Policy
  11:52Avoiding COI
  5:31Actions
  6:43Test Your Knowledge
CONCLUSION
  3:58Summary
CONTINUOUS PLAY
  1:40:19Keys to Understanding Conflict of Interests
SUPPORTING MATERIALS
  PDFSlides: Keys to Understanding Conflict of Interests
  PDFKeys to Understanding Conflict of Interests Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM