How should a Treasurer handle conflict of interest disclosures?

• A. Require annual conflict-of-interest disclosures, address any related party transactions, and document decisions.
• B. They are optional for staff
• C. Keep disclosures confidential and unpublished
• D. Only disclose if a dispute arises

Answer: (A)

Handling conflicts of interest disclosures is about maintaining transparency and proper governance in financial oversight. The best practice is to require annual conflict-of-interest disclosures, address any related party transactions, and document decisions. Annual disclosures keep the organization informed of evolving relationships or interests that could influence financial judgments, so potential conflicts are identified early rather than after a problem arises. When a related party transaction exists, it should be reviewed and disclosed, and the terms should be fair and properly approved to avoid self-dealing or preferential treatment. Documenting every decision and the rationale provides an auditable trail showing how conflicts were managed, which protects the organization and reinforces accountability. Keeping disclosures confidential or making them optional undermines trust and oversight, and disclosing only after a dispute misses the opportunity to manage risks proactively.