CONFLICT OF INTEREST (COI) POLICY AND PROCEDURES
PURPOSE:
The purpose of this policy is to ensure that Canvas Dev Leads (CDL) and its employees, board members, volunteers, and contractors avoid any actual, potential or perceived conflicts of interest and to manage such conflicts in a transparent and ethical manner.
SCOPE:
This policy applies to all employees, board members, volunteers, and contractors of CDL.
POLICY:
CDL is committed to conducting all of its activities and operations with integrity and in compliance with all applicable laws and regulations. To maintain this commitment, it is essential that employees, board members, volunteers, and contractors avoid any actual, potential or perceived conflicts of interest.
A conflict of interest occurs when an individual’s personal interests, financial or otherwise, compete with or interfere with the interests of CDL. Such conflicts can arise when an individual is involved in a decision-making process or has the ability to influence a decision that may result in personal gain or a potential loss to CDL.
PROCEDURES:
Disclosure: All employees, board members, volunteers, and contractors of CDL are required to disclose any actual, potential or perceived conflicts of interest that may arise in the course of their duties or responsibilities. This includes any personal or financial interests that may influence or interfere with their objectivity in carrying out their duties.
Review: All disclosed conflicts of interest will be reviewed by the CDL’s designated personnel. The designated personnel will determine if the conflict is real, potential, or perceived and the extent of its impact on CDL.
Mitigation: CDL will take appropriate steps to manage and mitigate conflicts of interest, including but not limited to:
- Removing the individual from the decision-making process or position of influence;
- Requiring the individual to divest themselves of the conflicting interest;
- Establishing protocols for ongoing monitoring of the situation; and d) Ensuring that any decisions made are in the best interest of CDL and its mission.
Documentation: All disclosures and actions taken to manage and mitigate conflicts of interest will be documented and maintained by CDL. This information will be kept confidential to the extent possible, and will only be disclosed as necessary to fulfill legal or regulatory requirements.
Training: All employees, board members, volunteers, and contractors of CDL will receive training on this policy and the importance of avoiding conflicts of interest. New personnel will receive this training as part of their orientation, and all personnel will receive periodic training updates.
CONCLUSION:
CDL is committed to maintaining the highest standards of integrity and transparency. This Conflict-of-Interest Policy and Procedures is designed to ensure that all personnel avoid any actual, potential or perceived conflicts of interest and to manage such conflicts in a transparent and ethical manner.