QUESTION 3 (GOVERNANCE) a) The current allegations of corruption relating to Covid 19 procurement processes for personal protection equipment and concerns on whether families of Public Officials should be awarded contracts for the supply of such equipment brings into sharp focus the real meaning the phrase "conflict of interest" and the importance of managing such a conflict where it exists. This is not only a political issue, but an ethics and governance issue, relevant in both the public and private sectors. Failure to manage it can also result in breach of the law, such as anti-corruption laws.

i) What does "conflicts of interests" mean in the context of governance? (5)

(ii) Discuss in detail how directors' conflicts of interests should be managed. (15)