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Ethical responsibilities of Management Accountants Practitioners of management accounting and financial management have an obligation to the public, their profession. the organization they serve, and themselves, to maintain the highest standards of ethical conduct. In recognition of this obligation, the Institute of Management Accountants has promulgated the following standards of ethical conduct for practitioners of management accounting and financial management. Adherence to these standards internationally is integral to achieving the objective of management accounting. Competence: Practitioners of management accounting and financial management have a responsibility to:
Confidentiality: Practitioners of management accounting and financial management have a responsibility to:
Integrity: Practitioners of management accounting and financial management have a responsibility to:
Objectivity: Practitioners of management accounting and financial management have a responsibility to:
Credibility
management accounting More PostLatest Post➤ What are the standards of ethical conduct for management accountants?Four standards of ethical conduct in management accountants' professional activities were developed by the Institute of Management Accountants. The four standards are competence, confidentiality, integrity, and credibility.
Under which ethical standard of conduct does the managerial accountant have the responsibility to disclose fully all relevant information?Confidentiality: Practitioners of management accounting and financial management have a responsibility to: Refrain from disclosing confidential information acquired in the course of their work except when authorized, unless legally obligated to do so.
Which one of the following ethical standards of management accountants best describes their responsibility to communicate information fairly and objectively?Credibility
Communicate information fairly and objectively.
What are the ethical responsibilities of an accountant?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.
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