Action

Details

1. Disclosure of all relevant information by the advisor

As is the case with the perceived COI, to some extent, disclosure of the COI event and verification that it is being managed may be sufficient to manage the risk. A communication plan may be required.

2. More defined confidentiality and probity deeds completed by the advisor

These may be required to reaffirm, clarify and, in some instances, extend the obligations of the advisor, with ramifications agreed if these obligations are not met. This solution would be suited to high-risk COI events.

3. Reformulation of the advisor's scope of work

This will involve reformulating the advisor's scope of work to remove or limit the impact of the COI event.

4. Verification and strengthening of internal management arrangements

The Project Director will require the advisor to provide detailed written internal procedures and processes governing how they will structure their internal management arrangements to manage the COI event, e.g. physical separation of individuals, file management systems, confidentiality of information, separation of support services and protocols for contact.

5. Close monitoring of the advisor's activities

This will involve the Project Director obtaining periodic updates on the status of the advisor's relevant circumstances, either directly or through an independent medium.