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Statement of Ethics for IMA Professional Accountants:

IMA Updates its Ethics Code for Management Accountants


Statement of Ethics for IMA Professional Accountants:

                The Institute of Management Accounts published their statements of Ethics for their professional certified accountants. Which has all the code and conducts How to perform the responsibilities like an IMA professional Management Accountant. That was published and  known as Statement on Management Accounting C(Revised), IMA – Institute of Management Accountants Statement of Ethical Professional Practice in August-2005.

1.       The Ethical Statement of IMA is based on four principles which are Honesty, Fairness, Objectivity and Responsibility.

2.       The four required standard for Ethical practice in management accountancy are Competence, Confidentiality, Integrity and credibility.

3.       According to this statement the CMA Certified Accountants are answerable about this question to whom a problem should be reported?

4.       Candidates who certified or perusing for CMA qualification they should memories the entire contents of the IMA Statement of Ethics. That help them in evaluation, implementation of the ethical issues such as fraudulent, manipulation of financial analyses, financial statement results and/or budgets.

5.       That helps them to work with integrity to achieve the objectives of management accounting. Management Accountant will not allowed to commit  those acts which are not according to the ethics of the statement.

6.       Institute of Management Accountants has an ethics hotline for the members who wish to discuss ethical conflicts. That hotline number is 1-800-245-1383.

7.       Management Accountants should provide the code of conduct of the policy and issues to counter the problem. The possible solutions which they take to resolve the issue must attached with it.

8.       The Conflict Interest can be take anywhere with anyone and they demand solutions  like financial issues with suppliers, customers and distributors.

9.       The statements giving us the guide lines about the relationship with auditee and auditors.

10.   IMA Statement of Ethical Professional Practice useful link is as follows:

                      https://www.imanet.org/-/media/b6fbeeb74d964e6c9fe654c48456e61f.ashx
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