What are the ethical responsibilities of management accountants?

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2.Code of Ethics for Management Accountants – Accountingverse

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6.[PDF] IMA Statement of Ethical Professional Practice

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As chartered management accountants, CIMA members throughout the world have a duty to observe the highest standards of conduct and integrity, and to uphold the good standing and reputation of the profession.

They must also refrain from any conduct which might discredit the profession. Members and registered students must have regard to these guidelines irrespective of their field of activity, of their contract of employment or of any other professional memberships they may hold.

The CIMA code of ethics is based on the IFAC handbook of the code of ethics for professional accountants, from the International Ethics Standards Board of Accountants (IESBA).

What are the ethical responsibilities of management accountants?

The CIMA code of ethics is made up of five fundamental principles: integrity, objectivity, confidentiality, professional competence and due care and professional behaviour:

Integrity: being straightforward, honest and truthful in all professional and business relationships. You should not be associated with any information that you believe contains a materially false or misleading statement, or which is misleading by omission.

Objectivity: not allowing bias, conflict of interest or the influence of other people to override your professional judgement.

Professional competence and due care: an ongoing commitment to your level of professional knowledge and skill. Base this on current developments in practice, legislation and techniques. Those working under your authority must also have the appropriate training and supervision.

Confidentiality: You should not disclose professional information unless you have specific permission or a legal or professional duty to do so.

Professional behaviour: comply with relevant laws and regulations. You must also avoid any action that could negatively affect the reputation of the profession.

Read more: Making better strategic decisions: the 5 key areas for improvement

CIMA ethics in three minutes

This animation explains the code and what you need to do when facing an ethical dilemma.

You can download the Cima Code of Ethics in the link below. Further information about Ethics as well as CIMA's full Code can be found at www.cimaglobal.com/ethics.

What are the ethical responsibilities of management accountants?

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What are the ethical responsibilities of accountants?

A professional accountant should be straightforward and honest in all professional and business relationships. A professional accountant should not allow bias, conflict of interest or undue influence of others to override professional or business judgments.

Are ethics important to the conduct of management accountants?

Ethics is an important part of managerial accounting, and companies follow a code of ethics or conduct that addresses ethical issues/concerns for management accountants.

What is the code of ethics for management accountants?

The CIMA code of ethics is made up of five fundamental principles: integrity, objectivity, confidentiality, professional competence and due care and professional behaviour: Integrity: being straightforward, honest and truthful in all professional and business relationships.

What are the three primary responsibilities of managerial accountant?

What Are the Responsibilities of Managerial Accountants?.
Producing and analyzing financial statements..
Managing the accounting staff..
Reporting back to the company's CFO..
Helping oversee the company's general ledger..
Helping create monthly budgets for company expense guidelines..
Completing and reviewing tax returns..