Standards of Ethical Conduct for Managerial Accountants

According to the IMA Statement of Ethical Professional Practice, which of the following is NOT one of the overarching ethical principles?

Under the Competence standard, what is a member's responsibility regarding their professional expertise?

An IMA member discovers confidential information about a planned merger. According to the Confidentiality standard, the member must refrain from using this information for what purpose?

Which action is a requirement under the IMA's Integrity standard?

The Credibility standard requires each member to communicate information in what manner?

If a management accountant cannot resolve an ethical conflict by following the organization's policies, and discussing the issue with their immediate supervisor is not appropriate, what is the next step?

A management accountant prepares a report for a potential investment. They intentionally omit negative market research data to make the investment appear more attractive. Which IMA overarching principle is most clearly violated?

Which of the following actions would be considered a violation of the IMA standard of Competence?

An IMA member's duty under the Confidentiality standard includes monitoring the activities of whom to ensure compliance?

Abstaining from engaging in or supporting any activity that might discredit the profession is a key component of which IMA standard?

An accountant provides a report to management but fails to mention that the underlying data has known deficiencies. This is a violation of which IMA standard?

If an ethical issue cannot be resolved internally and an IMA member believes there is a clear violation of the law, what does the 'Resolution of Ethical Conflict' section suggest?

Providing decision support information that is accurate, clear, concise, and timely is a responsibility listed under which IMA standard?

An accountant for a publicly-traded company learns that quarterly earnings will be significantly lower than anticipated. Before the public announcement, the accountant sells their shares in the company. This action violates which IMA standard most directly?

A manager is asked to perform a complex financial analysis for which they lack the appropriate skills. Under the Competence standard, what is the manager's responsibility?

The IMA's overarching ethical principles include Honesty, Fairness, Objectivity, and what other principle?

An accountant is part of a team selecting a new software vendor. The accountant's brother-in-law is a sales executive for one of the bidding companies. To comply with the Integrity standard, the accountant should:

What is the final suggested course of action in the IMA's 'Resolution of Ethical Conflict' section?

Which of the following is NOT a responsibility under the IMA standard of Competence?

Informing all relevant parties regarding the appropriate use of confidential information is a responsibility under which standard?

An accountant knowingly signs off on a financial report that contains material misstatements. This action most directly violates the IMA standard of:

Under the Credibility standard, an IMA member must disclose all relevant information that could reasonably be expected to influence an intended user's understanding of:

If an IMA member's immediate supervisor is the CEO, to whom might the member report an unresolved ethical conflict?

The overarching ethical principles of the IMA guide the conduct of members and are described as including all of the following EXCEPT:

Performing professional duties in accordance with relevant laws, regulations, and technical standards is a key responsibility under which standard?

An IMA member is reviewing a capital budget proposal and realizes the projections are overly optimistic. The manager insists on using the optimistic figures. By going along with the manager, the member would likely violate the principle of:

Which standard requires an IMA member to advise all parties of any potential conflicts of interest?

When resolving an ethical conflict, contacting levels above the immediate superior should be initiated:

Which of the following is NOT a component of the IMA's Confidentiality standard?

The failure of a member to comply with the IMA standards may result in what consequence?

An accountant presents a financial analysis but omits several key assumptions that were made. This makes the results appear more certain than they are. This action violates the standard of:

According to the IMA's guidance, what is the relationship between the overarching principles and the standards?

An IMA member is aware that their company is engaging in an activity that, while not illegal, is widely considered unethical and could discredit the profession. Under the Integrity standard, the member should:

When escalating an ethical conflict, what does the IMA guidance assume about contacting levels above the immediate superior?

Which of the following is a primary responsibility under the standard of Integrity?

Which of the following is NOT an IMA overarching ethical principle?

A management accountant is asked to analyze three potential projects but is only given enough time to analyze two of them properly. According to the IMA standards, what should the accountant do?

An accountant is a member of a team that is preparing a report. The accountant disagrees with the team's conclusions, believing them to be misleading. If the team leader insists on publishing the report, the accountant should first:

Which statement best describes the IMA's view on professional competence?

Keeping information confidential is a duty under the IMA standards, which ends when:

An accountant refuses to accept a gift from a client because it might be perceived as influencing their professional judgment. This action demonstrates adherence to which IMA standard?

The IMA's 'Resolution of Ethical Conflict' advises members to consider three courses of action. Which of the following is NOT one of them?

An IMA member's professional duties must be performed in accordance with what, according to the Competence standard?

Refraining from engaging in any conduct that would prejudice carrying out duties ethically is a responsibility under which IMA Standard?

What is the primary focus of the IMA's Credibility standard?

If a member cannot achieve a satisfactory resolution to an ethical conflict after escalating it through management levels, what is a recommended next step before consulting an attorney?

An accountant is a member of the IMA. They are asked by their manager to create a misleading report. The accountant knows this is unethical but fears losing their job if they refuse. The IMA standards require the accountant to:

Which IMA standard is most concerned with a member's skills, knowledge, and adherence to technical rules?

A manager uses information from a confidential vendor quote to give their preferred vendor an advantage in negotiations. This action violates which two IMA standards most directly?

The IMA's ethical framework is composed of: