Yes. Conflicts are about perception as well as reality. Even fair decisions can raise concerns if a personal relationship exists.

Managers should escalate the disclosure to HR, Compliance, or Legal for guidance. They should not independently approve or dismiss potential conflicts.

Employees should disclose the relationship as soon as they become aware of it. Early disclosure allows the company to manage the situation appropriately.

Yes. A conflict can still exist even if your role does not grant access to information or direct influence. Disclosure is required even when you are not the final decision-maker.

Ownership, employment, or service on a vendor board all count as interests that require disclosure. This applies to you, your spouse, your children, and other close family members.

Not necessarily. If the connection is disclosed early, the company can make arrangements to ensure you aren't the one approving their work or payments. Secrecy is usually a bigger threat to the contract than disclosure.

Yes. Even if you weren't involved in awarding the business, you must disclose the relationship if you are involved in projects with that vendor. Transparency is required to avoid the appearance of favoritism or improper influence.

A conflict of interest occurs when personal relationships or financial interests could, or appear to, influence professional decisions. Conflicts do not require misconduct; they arise when objectivity could reasonably be questioned. Disclosure allows companies to manage conflicts before they become problems.