What is the best way to prevent potential issues of conflicts of interest?

What is the best way to prevent potential issues of conflicts of interest?
A . do not hire family members
B . openly declare potential conflicts
C . do not work with suppliers who have relationships with the procurement team
D . create a risk register

View Answer

Answer: B

Explanation:

The best way to deal with potential Conflicts of Interest is to openly declare these. Just because you have a relationship with someone doesn’t mean this is going to be an issue or lead to fraud, but it is a good idea to keep a written record of these.

It wouldn’t be a risk register, because how can you rate someone’s risk of doing something dodgy? Risk registers are for objective risks such as Health and Safety.