Ethical conflicts
Article Abstract:
A proposed resolution of an ethics case involving an apparent conflict of interest is presented. The resolution examines the legal and ethical responsibilities of a chief financial officer who has uncovered what seems to be an anomalous purchasing agreement with a supplier firm that is owned by the brother-in-law of the company president. The resolution recommends that the financial officer concerned first consult the corporate counsel on the legal ramifications of the suspected conflict of interest before discussing the matter with the company president involved. Should the company president refuse to cooperate in the review of the purchasing agreement, the resolution recommends that the matter be brought to the attention of the corporate board or the corporate audit committee for a final decision.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1992
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Standards of ethical conduct for management accountants
Article Abstract:
The Institute of Management Accountants has issued ethical conduct standards that outline the responsibilities of management accountants in upholding their obligations to their profession, their clients and the public. The standards promulgated by the Institute, which was formerly known as the National Association of Accountants, emphasize the need for management accountants to perform their duties with a high level of professional competence, to maintain the confidentiality of information acquired in the course of their work, to avoid conflicts of interest, and to disclose all relevant financial information objectively. The standards also identify the policies to be followed in resolving ethical conduct conflicts.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1992
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