What does the monitoring phase of a conflict of interest entail?

The monitoring phase of a conflict of interest is crucial for ensuring that any potential conflicts are managed appropriately. This phase involves the regular assessment of the situation, which allows for the continual evaluation of how the conflict may be evolving over time and whether the established measures are effective.

Regular assessments can include reviewing the stakeholders involved, changes in circumstances, or new developments that could impact the conflict of interest. By consistently monitoring the situation rather than taking immediate actions like ceasing collaboration, organizations can maintain relationships while ensuring that any conflicts are resolved efficiently and transparently.

This ongoing review helps prevent the situation from worsening and allows for timely adjustments to strategies or disclosures as needed, promoting ethical standards and accountability within the organization.