It is very important to respect the rights of the employees to privacy in their personal activities and affairs. However, management needs to make known that the employees’ transactions and relationships with outside parties must be conducted at all times on a highly ethical basis and at arm’s length.
In conducting those relationships and transactions, the sole or primary consideration must be the best interest of the company. To achieve this, we need a Statement of Policy for this.
Append below is a sample which should be able to assist us to make known to the employees:
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the importance of conflict of interests,
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different kind of circumstances which can directly or indirectly leads to conflict of interest,
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the consequences in the event of violation.
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four, Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.
Also author to another very popular free educational accounting cum finance blog: http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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