The Declaration of Potential Employee Conflict of Interest is a formal document in which an employee of a company identifies possible circumstances or situations that could result in a conflict of interest between his or her personal, financial or professional interests and those of the employer. Why this document is needed: 1. Monitoring and Risk Management The primary purpose of the Declaration of Potential Conflicts of Interest is to ensure compliance, i.e., adherence to corporate standards and legal requirements. It allows the company to identify and manage the risks associated with potential conflicts of interest in a timely manner. 2. Increase transparency The Declaration helps to create a transparent working environment in which all stakeholders are aware of potential conflicts. This fosters trust between employees and management and strengthens corporate culture. 3. Maintaining ethical standards Employees' commitment to high ethical standards is documented. This protects the company's business reputation and promotes long-term success by upholding the principles of honesty and fairness. 4. Legal Protection The statement serves as an important legal tool that can protect the company from potential litigation. A detailed document provides evidence that the company is taking steps to prevent and manage conflicts of interest. 5. Reduce the risk of biased decisions Being aware of potential conflicts of interest allows the company to take corrective action, such as reassigning responsibilities, to avoid situations where an employee's personal interests may influence his or her professional decisions. Conclusion: Reporting potential conflicts of interest is an integral part of a compliance strategy aimed at maintaining the company's high reputation, protecting its interests and ensuring fair and objective decisions in professional activities.