A member will disclose at the earliest opportunity any special relationships, circumstances or business interests which might influence or impair, or could be seen by the client or others to influence or impair, the member’s judgement or objectivity on a particular assignment. This requires the prior disclosure of all relevant personal, financial or other business interests that could not be inferred from the description of the services offered. In particular this relates to:
- any directorship or controlling interest in any business in competition with the client
- any financial interest in goods or services recommended or supplied to the client
- any personal relationship with any individual in the client’s employ
- any personal investment in the client organisation or in its parent or any subsidiary companies
- any recent or current engagements in sensitive areas of work with directly competitive clients
- any work for a third party on the opposite side of a transaction, e.g. bid defence, acquisitions, work for the regulator and the regulated, assessing the products of an existing client
A member will not serve a client under circumstances which are inconsistent with the member’s professional obligations or which in any way might be seen to impair the member’s integrity; wherever a conflict or potential conflict of interest arises, the member will, as the circumstances require, either withdraw from the assignment, remove the source of conflict or disclose and obtain the agreement of the parties concerned to the performance or continuance of the engagement.