10/20/2023 0 Comments Conflict of interest quotes![]() History shows that where ethics and economics come in conflict, victory is always with economics.The Institute of Internal Auditors in: International Standards for the Professional Practice of Internal Auditing, The Institute of Internal Auditors.A conflict of interest could impair an individual's ability to perform his or her duties and responsibilities objectively. A conflict of interest can create an appearance of impropriety that can undermine confidence in the internal auditor, the internal audit activity, and the profession. A conflict of interest exists even if no unethical or improper act results. Such competing interests can make it difficult to fulfill his or her duties impartially. Conflict of interest is a situation in which an internal auditor, who is in a position of trust, has a competing professional or personal interest.Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to make decisions for the benefit of a third party. ![]() ![]() A conflict of interest ( COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. ![]()
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