Describe the ethical principles and standards advocated by the IMA|My course tutor

Posted: February 26th, 2023

The Institute of Management Accountants, like other professional organizations, has produced a statement of ethics that their members are expected to follow.   Find the IMA Statement of Ethical Professional Practice and read it in its entirety.

  1. Describe the ethical principles and standards advocated by the IMA.
  2. Describe how ethical issues should be resolved.  Then determine if, and/or, how the IMA sanctions members that have acted unethically.
  3. Find the Association of Certified Public Accountants’ (AICPA) statement on ethics and compare and contrast it with the IMA’s ethical principles and standards, resolution of ethical issues, and possible sanction of members who have acted unethically.

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SOLUTION

ntroduction:
The Institute of Management Accountants (IMA) has a Statement of Ethical Professional Practice which outlines ethical principles and standards that their members must adhere to. The purpose of this document is to ensure that members of the IMA uphold the highest standards of ethics and professionalism in their work.Ethical Principles and Standards: The IMA Statement of Ethical Professional Practice outlines four ethical principles that their members should follow. These principles include:

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