Independent Financial Review Panel

In exercising its functions as described in the Northern Ireland Assembly Members (Independent Financial Review and Standards) Act 2011, the Panel shall at all times maintain its independence from the Northern Ireland Assembly in its deliberations and determinations.  The members of the Independent Financial Review Panel shall comply with the general principles of conduct as identified by the Committee on Standards in Public Life the following manner:

SELFLESSNESS

Panel members will act solely in terms of the public interest.  They will not act in any manner which results in financial gain or other material benefits for themselves, their family, or their friends.

INTEGRITY

Panel members will not place themselves under any financial or other obligation to outside individuals or organisations that might seek to influence them in the performance of their official duties.

OBJECTIVITY

In carrying out its functions the Panel shall make determinations which are based on sound and balanced consultation and research and which are in the best interest of the people of Northern Ireland.

ACCOUNTABILITY

Members of the Panel are accountable to the public for their decisions and actions and shall submit themselves to whatever scrutiny is appropriate to their office.

OPENNESS

The Independent Financial Review Panel shall be as open as possible about the decisions that they take.  They will give reasons for their decisions and will restrict access to information only for reasons of personal privacy or when it is in the wider public interest to do so.

HONESTY

Members will declare any private interests relating to their responsibilities as members of the Independent Financial Review Panel and will take steps to resolve any conflicts arising in a way that protects the public interest.

LEADERSHIP

Panel members will promote and support these principles by leadership and example.

DISCLOSURE OF INTERESTS

The Independent Financial Review Panel will maintain a Register of Interests. In addition, at each meeting of the IFRP, there will be a standing agenda item to allow members to declare any interests which they have in relation to the issues to be discussed.

REVIEW

This Code of Conduct will be reviewed annually.

Agreed by the Independent Financial Review Panel on 11 July 2011.

ANNUAL REVIEWS

1. The Code of Conduct was reviewed at a meeting of the Independent Financial Review Panel on 21 September 2012. It was agreed that no changes were required.

2. The Code of Conduct was reviewed at a meeting of the Independent Financial Review Panel on 6 September 2013. It was agreed that no changes were required.

3. The Code of Conduct was reviewed at a meeting of the Independent Financial Review Panel on 4 August 2015.  It was agreed that no changes were required.