IMA revises SMA 1C, standards of ethical conduct
Article Abstract:
The Institute of Management Accountants has introduced revisions to its statement of standards for ethical conduct. The updated version features a new preface discussing the current situation in the field of management accounting. It is applicable not only to management accountants but also financial managers in the domestic as well as international contexts. The statement discusses standards on such dimensions as competence, integrity, confidentiality and objectivity. It also discusses steps that a professional may take in resolving ethical conflicts. These include meeting with their immediate superior to discuss the problem unless this superior is implicated, studying the ethical issues by cooperating with an objective advisor, and seeking consultation from their attorneys. Resigning from the organization if the conflict is not resolve despite the actions taken is a last resort.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1997
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Ethical obligations of management accountants
Article Abstract:
The Institute of Management Accountants (IMA) requires all its members to abide with its Standards of Ethical Conduct for Management Accountants. These standards makes it mandatory for IMA members to possess the requisite skills to conduct their professional duties in accordance with all relevant regulations. These standards also require IMA members to perform their duties with the highest levels of integrity and objectivity, while ensuring complete confidentiality of all financial information obtained in the course of their work. For IMA members who are also members of the American Institute of Certifed Public Accountants (AICPA), compliance with the AICPA's Code of Professional Conduct is also expected.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1995
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