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The document outlines the history and mission of the Institute of Management Accountants (IMA). Key details include that IMA was founded in 1919 and has over 125,000 members globally. IMA aims to advance the management accounting profession through credentials like the Certified Management Accountant certification and a code of ethical conduct for members. The ethical standards address competence, confidentiality, integrity, and credibility for management accountants.

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Abby Navarro
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43 views

Abcde

The document outlines the history and mission of the Institute of Management Accountants (IMA). Key details include that IMA was founded in 1919 and has over 125,000 members globally. IMA aims to advance the management accounting profession through credentials like the Certified Management Accountant certification and a code of ethical conduct for members. The ethical standards address competence, confidentiality, integrity, and credibility for management accountants.

Uploaded by

Abby Navarro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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INTERNATIONAL STANDARDS OF ETHICAL CONDUCT FOR

PRACTITIONERS OF MANAGEMENT ACCOUNTING

 INSTITUTE OF MANAGEMENT ACCOUNTANTS


 Is the world wide association of accountants and
financial professionals in business.
 Founded in Buffalo, New York in 1919 as the
National Association of Cost Accountants(NACA) to
promote knowledge and professionalism among cost
accountants and foster a wider understanding of their
role in management.
 In 1957, its name was changed to National
Association of Accountants (NAA)
 In 1991, the organization’s name was again changed
to the Institute of Management Accounting(IMA),
SIGNIFYING the broader role as the association for
accountants and financial professionals working
inside the organizations.
 In 1992, IMA becomes a founding member of the
Committee of Sponsoring Organizations of the
Treadway Commission(COSO), a private-sector
organization dedicated to improving the quality of
financial reporting.
 In 1996 IMA established the Certified Financial
Manager (CFM) program.
 In 1997, CMA and CFM test are computerized
 In 2000, First IMA student Conference held in
Colorado Springs, Colo.
 In 2006, First IMA Global Conference held in Dubai,
UAE.
 In 2011, Simple Chinese version of CMA exam
introduced.
IMA’s first European Office opens in Zurich.

 In 2016, IMA opens its seventh global office in


Singapore.

 In 2019 IMA celebrates 100 years of advancing the


management accounting profession.

 One of the largest and most respected associations


focused exclusively on advancing the management
accounting profession.

 Committed to empowering the 125,000 + members


o To strengthen on-the-job skills
o Better manage companies
o Accelerate careers
o 150 countries and more than 300 professionals
and student chapters.
o The only organization to offer the CMA earned
through a multi-part exam
 Provide best-in-class certification – the
CMA- for critical internal financial management
responsibilities, including planning, budgeting,
business reporting, decision analysis and risk
management
 Support members’ career development
through access to active professional
community, continuing education, valuable
information, and resources.
 Support members and their organizations in
driving business performance by promoting the
highest ethical standards for internal financial
management practices.

 Offers the prestigious credential- the CMA – with


a proven return on investment

 Builds a professional network that provides


career resources and contacts to last a lifetime.

 Creates CPE-eligible education programs that


improve industry knowledge and leadership
potential.

 Giving voice to the profession with insightful and


timely journals and newsletter.

 Advocating for the profession in challenging


regulatory environment.

 GLOBAL CORE VALUES

 Respect for the Individual


 Passion for serving members
 Highest standards of Integrity and Trust
 Innovation and Continuous Improvement
 Teaming to Achieve

o Management accountants are vital to the financial


health of organizations. They make critical decisions,
safeguard a company’s integrity, and plan for
business sustainability. They might be CFOs and
Controllers, Budget Analysts and Treasurer.
o They help drive an organization’s strategy

o IMA STATEMENT OF ETHICAL PROFESSIONAL


PRACTICE
 IMA upholds the high ethical standards in
business. All members are required to abide by
IMA’s Statement of Ethical Professional Practice.
 Members shall behave ethically. A commitment
to ethical professional includes:
1. Honesty
2. Fairness
3. Objectivity
4. Responsibility
Members shall act in accordance with these
principles and shall encourage others within
their organizations to adhere to them.
STANDARDS
A member’s failure to comply with the following
standards may result in disciplinary action:
I. COMPETENCE
 Maintain an appropriate level of
professional leadership and expertise by
enhancing knowledge and skills.

 Perform professional duties in accordance


with relevant laws, regulations and
technical standards.
 Provide decision support information and
recommendations that are accurate, clear,
concise, and timely. Recognizes and help
manage risk.
II. CONFIDENTIALITY
 Keep information confidential except when
disclosure is authorized or legally required.

 Inform all relevant parties regarding


appropriate use of confidential
information. Monitor to ensure
compliance.

 Refrain from using confidential information


for unethical or illegal advantage.
III. INTEGRITY
 Mitigate actual conflicts of interest.
Regularly communicate with business
associates to avoid apparent conflict of
interest. Advise all parties of any potential
conflict of interest.

 Refrain from engaging in any conduct that


would prejudice carrying out duties
ethically.

 Abstain from engaging in or supporting any


activity that might discredit the profession.

 Contribute to a positive ethical culture and


place integrity of the profession above
personal interest.
===================== 8/10/21
IV. CREDIBILITY
 Communicate information fairly and objectively.
 Provide all relevant information that could
reasonably be expected to influence an intended
user’s understanding of the reports, analyses, or
recommendations.
 Report any delays or deficiencies in information,
timeliness, processing, or internal controls in
conformance with organization policy and / or
applicable law.
 Communicate professional limitations or other
constraints that would preclude responsible
judgement or successful performance of an
activity.

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