"Conflict of interest is a situation in which an internal auditor, who is in a position of trust, has a competing professional or personal interest. Such competing interests can make it difficult to fulfill his or her duties impartially. A conflict of interest exists even if no unethical or improper act results. A conflict of interest can create an appearance of impropriety that can undermine confidence in the internal auditor, the internal audit activity, and the profession. A conflict of interest could impair an individual's ability to perform his or her duties and responsibilities objectively."
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The Institute of Internal Auditors in: International Standards for the Professional Practice of Internal Auditing, The Institute of Internal Auditors.
https://en.wikiquote.org/wiki/Conflict_of_interest
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Conflict of interest
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