Conflict of Interest Declaration

What is a conflict of interest declaration?

A conflict of interest declaration form is an internal HR document used by the company’s employees or staff to report ongoing, perceived or potential conflicts of interest at the workplace in a compliant and efficient way. The document outlines details of the employee and the situation involving conflict of interest, as well as a list of any supporting documents.

This conflict of interest declaration form is an important internal document used by employees and staff in Australia to notify their employers or supervisors about the conflict of interest in a professional way. Failure to notify about the conflict of interest in a timely manner may involve severe legal consequences for the employee, including warnings or termination of employment.

Who should use this conflict of interest declaration form for employees?

This document can be a good addition to your company’s or organisation’s existing policy for conflict of interest or employee handbook requiring disclosure of perceived, ongoing or potential conflicts of interest at the workplace. This letter template can be helpful for:

• HR teams and managers searching for a short and professionally drafted template;
• SMEs or startups looking for a professionally drafted template to manage disclosure of conflict of interest;
• directors and CEOs implementing conflicts of interest policies within their businesses or organisations;
• employers or staff willing to disclose their concerns in a compliant and professional way.

This document shall be used in conjunction with the Policy for Conflict of Interest outlining requirements and procedures for the disclosure of a conflict of interest.

What should be included in the declaration conflict of interest?

A declaration of conflict of interest is a simple and straightforward document aimed at standardising the internal processes and promoting transparency. A standard declaration shall include the following:

Details of Employee

This section of the document should include an employee’s full name, job title and the name of a department the employee currently works in. The declaration must also include the date of its signing and the employee’s signature.

It does not matter whether an employee wants to report on one or several cases of conflict of interest, as all of them could be included in the same document.

Details of Employer

In this section full information about the company or business here whose reporting is being submitted shall be stated. Include the full legal name of the employer, their ACN or ABN number and the company’s registered business address.

Scope of Disclosure

The text of a conflict of interest declaration template must reflect the scope of disclosure. In particular, the list of specific events or circumstances the employee believes create or may create the conflict of interest. It is also very useful to attach the list of any supporting documentation, including photos, statements, numbers, etc.

Concluding Remarks

The text of the declaration should also emphasise that all submitted information is true and correct. The employee should also additionally agree to cooperate with the employer regarding the resolvance of the conflict of interest in good faith.

Once the declaration is ready, it should be dated and signed by the employee.

What are the key benefits of this conflict of interest declaration form?

By customising this form with FasterDraft, you get the following benefits:

• a document that helps to promote transparency and accountability within your organisation;
• a letter that facilitates internal compliance requirements;
• a document that helps to standardise internal procedures for the conflict of interest disclosure;
• a letter that saves time on document drafting;
• a letter created by real legal professionals, and never by AI;
• a document that matches the minimum legal requirements provided by the Fair Work Act;
• a declaration that is fully customisable for the particular needs of your organisation or business.

How to customise this conflict of interest declaration?

To get a fully customisable document template, follow a few easy steps below:

1. Click the “Create Document” button.
2. Answer simple questions in the form.
3. Select a template’s format – a conflict of interest declaration form PDF or Word.
4. E-sign the document.
5. Make a payment.

The document is ready for instant download immediately after the purchase.