Which of the following is true about conflicts of interest?

Question

What is true about conflicts of interest?

Anonymous · Accepted Answer

A conflict of interest can come in a situation where an individual has competing interests or loyalties because of their duties to more than one person or organization. A person with a conflict of interest can't do justice to the actual or potentially conflicting interests of both parties. For instance, if internal auditor, who is in a position of trust, has a competing professional or personal interest. Another example is if a person have a loyalty to an employer and also loyalty to a family business. Each of these businesses expects the person to have its best interest first. Thus, the conflict .Such competing interests can make it difficult to fulfill his or her duties impartially.A conflict of interest exists even if no unethical or improper act results.

Anonymous · Answer

Option B Explanation: In simple words, conflict of interest refers to a situation under which an individual stands in a position to make a decision that can give him or her some personal benefit in cost of the organisation they are working for. Thus, it creates an ethical dillema for the decision maker to choose among the alternative choices. Hence from the above we can conclude that the correct option is B.

Jordan Auer · Answer

Option BExplanation: In simple words, conflict of interest refers to a situation when a person have the power to make a certain decision from which he or she gets to have some special benefit. Therefore, conflict of interest always results in the scope bias. As the individual in the power can use his or her position that can lead to benefit of him or loss of others or both. Hence from the above we can conclude that the correct option is B.

Anonymous · Answer

conflict is inevitable, so it should be managed, rather than avoided.Explanation:conflict is referred to as the opposing thought that can be formed between two people for any decision. conflict can take the shape of violent but it is not always violent.Conflict can be an internal conflict which means a person has a conflict with himself/herself. In this conflict can be with emotions or any other form to triumph

Anonymous · Answer

The correct answer is letter "B": Conflicts of interest increase the likelihood of bias.Explanation:A Conflict of Interest (COI) takes place within an organization when the individual interest of one of the members is prioritized harming the other parties' objectives. Since that point, the organization could be said to be biased towards one factor over the others if the conflict of interest is not taken to a middle field where the collective interest is the winner.

Anonymous

Which of the following is true about conflicts of interest?

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