Managing conflict of interest
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This document discusses managing conflicts of interest (COI) in both public and private sectors. It begins by outlining challenges in managing COI and providing international and local case examples. It then defines COI and discusses major areas of COI. The document advocates managing rather than fighting COI through preventative measures, enforcement of codes of conduct, and restrictions. While management of COI promotes equity and professionalism, challenges include lack of political will, weak institutions, and cultural issues. Successful management requires strong leadership, legal frameworks, accountability, and independent oversight.
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Managing conflict of interest
- 1. Managing Conflict of Interest By Prof. Waswa Balunywa
- 2. Paper Format • The challenge • Cases: International and Local • What is COI? • Managing COI • Is Management of COI good for business • Conditions of successful management of COI 2By Prof. Waswa Balunywa
- 3. The Challenges • You do it , you are doomed • You don’t do it you are doomed A challenge of good governance 3By Prof. Waswa Balunywa
- 4. Why the Challenges? • Public sector use funds for the general public in form of taxes. • There is need for accountability • Accountability demands transparency • Transparency demands competition • Competition creates equity 4By Prof. Waswa Balunywa
- 5. Challenges of Good Governance Good governance requires:- • Transparency • Competition • Accountability • Participation • Equity More urgent in public sector 5By Prof. Waswa Balunywa
- 6. Cases International cases: • Enron • Lesson of the Baring Bank, Singapore • Arthur Andersen • World com French President giving job to his son 6By Prof. Waswa Balunywa
- 7. By Prof. Waswa Balunywa 7 World Com
- 8. Local Cases • A director supplying goods to a company where he is in position to influence decision. • Government officer supplies goods to their own department. • Sitting on a Committee to interview your blood relations 8By Prof. Waswa Balunywa
- 9. Levels of Governance National level The state of governance of national affairs Corporate Organizations The state of governance in corporate affairs especially business organizations. 9By Prof. Waswa Balunywa
- 10. What is COI? • Is when public officers are using public assets for private gain • Taking advantage of position or knowledge to influence an outcome that is beneficial to you. • Abuse of office. • COI is a governance matter • COI is an issue of corruption. 10By Prof. Waswa Balunywa
- 11. Major Areas of COI • Conduct of public officials • Conduct of trustees • Conduct of Management of public limited companies • Public procurement practices • Management of public finances 11By Prof. Waswa Balunywa
- 12. Consequences of COI • Enrichment of individuals • Diversion of resources to private use • Public not getting benefits intended for it • Reduces competition • Reduces equity • Reduces levels of service • May kill organizations 12By Prof. Waswa Balunywa
- 13. Managing COI COI is a governance matter and has to be managed not fought. Managed through: • Preventing it from occurring • Enforcing Rules of Behaviour • Establishing code of conduct for public officers • Legislate framework e.g. Leadership code 13By Prof. Waswa Balunywa
- 14. Managing COI- Cont’d • Establish offices of obudsman e.g. IGG • Restriction of post employment of retired public officers. 14By Prof. Waswa Balunywa
- 15. Enforcement of Rules • Asset Registrar for Leaders • Protect whistle blowers • Courts • IGGs 15By Prof. Waswa Balunywa
- 16. In Corporations Preventive Measures: • Establish code of conduct • Legislation on Directorship • Accounting standards • Strengthening audit 16By Prof. Waswa Balunywa
- 17. Enforcement • Empower enforcement agencies • Educate public about benefits • Ability to see through decision • No politicization 17By Prof. Waswa Balunywa
- 18. Challenges of Managing COI At national level: • Lack of political will • Lack of agreement by key players on principles and practices of COI • Cultural issues • Tribes and religions • Weaknesses in enforcement • Backward economy 18By Prof. Waswa Balunywa
- 19. Challenges of Managing COI- Cont’d • Lack of strong Institutions – Accountants Regulatory Body – Stock exchange Rules and Regulations – IGG’s office: leadership Code 19By Prof. Waswa Balunywa
- 20. Challenges of Enforcement at corporate Level • Weak economy • Absence of formal management culture • Domination of economy by unlisted companies • Inability to professionalize management and entrepreneurship • Business and ethics issues 20By Prof. Waswa Balunywa
- 21. Is Management of COI Good for Business? Yes it is: • Promotes equity • Encourages joint stock business • Encourages professionalism in business and management • Strengthens business and the economy 21By Prof. Waswa Balunywa
- 22. Conditions of Successful Management of COI • Effective political leadership • Strong legal framework • An independent press • Professional issues in Management, Entrepreneurship, Accountancy, Audit • Clear rules on the duties of politicians and officials • Accountability at all levels in government • Enforceable laws • Strong institutions 22By Prof. Waswa Balunywa
- 23. End Note • How are you faring as an individual? 23By Prof. Waswa Balunywa