Conflict of Interest Policy

Date of Issue: 21 May 2025

Organisation: Australian Institute of Pharmacognosy

1. Purpose

The purpose of this policy is to ensure that all actual, potential, and perceived conflicts of interest involving Responsible People, employees, volunteers, and third parties are identified, disclosed, documented, and managed appropriately to protect the integrity and public trust in the Australian Institute of Pharmacognosy.

2. Scope

This policy applies to all Responsible People, employees, volunteers, and any third-party contractors or collaborators, including those operating within or outside of Australia.

3. Definitions

Conflict of Interest: A situation in which a person has a private or personal interest sufficient to appear to influence the objective exercise of their duties.

4. Disclosure of Conflicts of Interest

All Responsible People must disclose any actual, potential, or perceived conflicts of interest at the earliest opportunity. Disclosure must be made in writing to the Board and entered into the Conflict of Interest Register.

5. Management of Conflicts of Interest

Once disclosed, the Board or appropriate governing body will assess the conflict and determine a suitable management plan, which may include: recusal from related discussions and decisions, relinquishment of the interest, or other mitigation measures.

6. Overseas Conflict of Interest Management

If the Institute operates overseas, it shall ensure that all employees, volunteers, third parties, and Responsible People based outside Australia are provided with this policy and required to disclose any actual or perceived conflicts of interest. Such disclosures must be documented in the Conflict of Interest Register and reviewed by the Board. Training and oversight shall be provided to ensure compliance with Australian governance standards regardless of geographic location.

7. Review

This policy will be reviewed annually or as required to reflect any changes in legislation or operational scope.

8. Approval

Approved by the Board of the Australian Institute of Pharmacognosy.