Conflicts of interest arise when personal or other professional interests and duties may be perceived to influence the way in which a director acts or votes on an organisation’s board. It is the Board’s role to manage any conflicts of interest and duty in the public interest (Code of Conduct for Directors of Victoria Public Entities, SECT 2.5) and individual directors have a duty to notify other directors of material personal interest when conflict arises – it can constitute an offence under the Corporations Act 2001 (SECT 191) if directors breach these obligations recklessly or with intentional dishonestly.
Conflicts of interest/duty can occur in any organisation, so it is important that executives and board members are aware of what to look for and how to respond whenever conflicts arise.
In this session, participants were joined by the Australian Centre for Healthcare Governance’s Jo-Anne Moorfoot and guest panellists, Sarah Lukies (Senior Legal & Governance Counsel, Xero, and non-Executive Director, West Gippsland Healthcare Group) and Dr Jo Flynn (Chair, Board Ministerial Advisory Committee, President, Berry Street, and Director, Victorian Institute of Forensic Mental Health (Forensicare)), who provided insight on the processes of identifying and managing conflict of interest for boards and directors.
Topics covered include recognising conflict of interest, assessing which form it takes, and establishing processes to manage the conflict of interest effectively. The discussion also considered when a conflict might be deemed unmanageable and what options are available under these circumstances.
Along with this session, we have prepared a resource kit for your reference.
This session has already occurred, and is available for you to access On Demand.
Copyright Victorian Healthcare Association 2017 | Privacy | Disclaimer | VHA Board
Level 6, 136 Exhibition Street Melbourne Vic 3000, Australia
Ph: (+61) 3 9094 7777 | Fax (+61) 3 9094 7788 | Email: email@example.com | ABN 54 004 228 111