The document presents a comprehensive self-assessment tool developed to assist institutions in evaluating the effectiveness and thoroughness of their financial conflict of interest (COI) policies and procedures. Divided into two main parts, the tool first guides institutions through a detailed checklist examining the existence, clarity, and documentation of policies and processes relating to the identification, reporting, management, and resolution of financial conflicts of interest. Key focus areas include the communication and availability of policies to relevant staff, clear definitions and roles (such as “investigator” and “key personnel”), criteria for disclosing significant financial interests, processes for verifying information, the structure and function of COI committees, and mechanisms for managing, reducing, or eliminating identified conflicts. The tool also addresses administrative matters such as staffing adequacy, methods of information collection, and necessary documentation to ensure regulatory compliance.
The second part of the tool shifts to practical application by enabling institutions to sample specific reported COI cases and compare the documented handling of these cases against the institution’s formal policies and procedures. This process is designed to validate general compliance and to identify discrepancies or areas for improvement. The tool emphasizes the importance of having written, well-communicated policies and clearly defined roles, as well as procedures for monitoring compliance, addressing noncompliance, and imposing penalties where appropriate. Institutions are cautioned to be mindful of legal considerations and the potential public nature of self-assessment records. The overarching aim is to encourage continuous improvement and accountability in managing financial conflicts of interest within research and academic settings.
