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IMA's updated guidance tells accountants to be ethical

Tammy Whitehouse | July 10, 2017

In an era where accounting complexity mushrooms, the Institute of Management Accountants saw a need to issue new guidance that gets back to basics when it comes to how accountants should behave. Be ethical, the new statement says.

The IMA revised its Statement of Ethical Professional Practice to articulate what some might consider overly obvious. Some are bedrock principles that have always been part of the code, but some are newly inked.

Be professional. Perform duties within the law and technical standards. Keep confidential information confidential. Don’t use confidential information for illegal or unethical purposes. Mitigate conflicts of interest. Be fair and objective in communicating information. Report deficiencies. Don’t ignore unethical situations; instead, seek to resolve them.

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