IMA statement of ethical professional practice

question

IMA’s overarching ethical principles include:
answer

Honesty, Fairness, Objectivity, and Responsibility.
question

IMA’s standards:
answer

Competence, Confidentiality, Integrity, Credibility.
question

1.) Competence Each member has a responsibility to:
answer

1.) Maintain an appropriate level of professional expertise by continually developing knowledge and skills. 2.) Perform Professional duties in accordance with relevant laws, regulations and technical standards. 3.) Provide decision support information and recommendations that are accurate, clear, concise, and timely. 4.) Recognize and communicate professional limitations or other constraints that would preclude responsible judgement or successful performance of an activity.
question

1.) Confidentiality Each member has the responsibility to:
answer

1.) Keep information confidential except when disclosure is authorized or legally required. 2.) Inform all relevant parties regarding appropriate use of confidential information. Monitor subordinates’ activities to ensure compliance. 3.) Refrain from using confidential information for unethical or illegal advantage.
question

3.) Integrity Each member has a responsibility to:
answer

1.) Mitigate actual conflicts of interest, regularly communicate with business associates to avoid apparent conflicts of interest. Advise all parties of any potential conflicts. 2.) Refrain form engaging in any conduct that would prejudice carrying out duties ethically. 3.) Abstain from engaging in or supporting any activity that might discredit the profession.
question

4.) Credibility Each member has a responsibility to:
answer

1.) Communicate information fairly and objectively. 2.) Disclose al relevant information that could reasonably be expected to influence an intended user’s understanding of the reports, analyses, or recommendations. 3.) Disclose delays or deficiencies in information, timeliness, processing, or internal controls in conformance with organization policy and/or applicable law.
question

Resolution of ethical conflict:
answer

1.) Discuss with immediate supervisor except when it appears that the supervisor is involved. 2.) Initiate a confidential discussion with an IMA Ethics Counselor 3.) Consult your own attorney

Get instant access to
all materials

Become a Member