Board members have a fiduciary obligation to act in the best interests of the organisation that they serve in an ethical manner.
The fundamental duty of any Board member is to act in the best interests of the organisation. Board members must be able to say that the board decisions were made fairly and impartially.
A conflict of interest is where a board member’s duties to the organisation clash with duties elsewhere. The easiest conflicts to identify involve financial gain for the board member or his family, eg awarding of a contract to the board member or family members.
Where a board is concerned that there may be a risk of a real or perceived conflict of interest, legal advice should be sought.
Draw your own conclusions about any potential conflict of interest
Board members have a fiduciary obligation to act in the best...
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