Kevin Robinson, AVP for the Office of Audit, Compliance & Privacy (OACP) at Auburn University, recently surveyed thought leaders about risk-related issues, asking what they see as emerging topics in higher education. Every person he spoke with mentioned conflicts of interest.
In the of Case in Point: Lessons for the proactive manager, Robinson defines conflicts of interest and their impact as follows:
鈥淐onflicts of interest are situations where there are competing interests. It's important to understand that conflicts of interest will occur in our industry, and it doesn't mean anyone has done anything wrong. It does, however, call for caution to protect both the individual and the institution.
"This caution usually results in the development of a conflict of interest management plan that protects everyone involved and ensures independent decisions are made for the institution. How you manage the conflict of interest will vary depending on the circumstances involved, but the need for open, clear, and transparent communication has never been greater.鈥�
WSU Conflict of Interest Reporting
Section 3.04 of the WSU Policies and Procedures Manual, Commitment of Time, Conflict of Interest, Consulting and Other Employment, addresses conflict of interest reporting at WSU.
Effective January 2018, the policy requires that all WSU employees submit an annual conflict of interest report even if they do not have a conflict to report.
When verification of a conflict of interest is determined to be manageable, the policy specifies that a management plan must be prepared in writing and approved by the employee鈥檚 vice president.