S.L. 461.1 чл. 2Definition of conflict of interest. Cap. 461.

For the purpose of article 17 of the Internal Audit and Financial Investigations Act:

(a) direct conflict of interest refers to a situation where the official of the Directorate is himself related with the auditee by virtue of a professional or work relationship, provided that a period of five years has not elapsed since such relationship has been terminated;

(b) indirect conflict of interest refers to a situation where the official of the Directorate has a family relationship with the auditee where the auditee is related to the official by being a person who is:

(i) the husband or wife;

(ii) the son or daughter;

(iii) the parent;

(iv) the brother or sister;

(v) the grandfather or grandmother;

(vi) the uncle or aunt; or

(vii) the nephew or niece;

(c) in all other cases, the official of the Directorate shall consider the circumstances of the particular case in order to see whether the relationship he has with the auditee has any form of influence on him or can cause an influence on his judgement in such manner that he would not be in a position to perform his duties in an impartial and fair manner. In making such a consideration, the official shall keep in mind the principle that he should be independent in fact and in appearance. In addition, the Code of Fundamental Principles for officials serving in the Internal Audit and Investigations Directorate and for any Compliance and Assurance official, as referred to in article 20 of the said Act shall also be consulted;

(d) if, after such consideration as is mentioned in paragraph (c), the official is still in doubt, he shall refer the matter to the Director explaining all the facts relative to his doubt. The Director shall consider and decide on the facts as presented by the official and shall relate his decision to that official. The Director’s decision shall be final;

(e) in all cases where a conflict of interest is claimed by an official under these regulations, a declaration should be made in the form shown in the Schedule. SCHEDULE (Regulation 2(e))

Declaration made by the officials of the Directorate Declaration Number: (for official use) Name and Surname of Official: Grade: Senior Official: (Manager/Assistant Director) Assignment Nature: Assignment Name: