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yosie yosie
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List the four standards that guide a management accountant's conduct as specified by the IMA Statement of Ethical Professional Practice and give two responsibilities under each standard.
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Managerial Accounting

Managerial Accounting


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1.Competence
a.Maintain an appropriate level of professional expertise by continually
​developing knowledge and skills.
b.Perform professional duties in accordance with relevant laws, regulations,
​and technical standards.
c.Provide decision support information and recommendations that are accurate,
​clear, concise, and timely.
d.Recognize and communicate professional limitations or other constraints
​that would preclude responsible judgment or successful performance of an
activity.

2.Confidentiality
a.Keep information confidential except when disclosure is authorized or
​legally required.
b.Inform all relevant parties regarding appropriate use of confidential
​information. Monitor subordinates' activities to ensure compliance.
c.Refrain from using confidential information for unethical or illegal advantage.

3.Integrity
a.Mitigate actual conflicts of interest. Regularly communicate with business
​associates to avoid apparent conflicts of interest. Advise all parties of any
​potential conflicts.
b.Abstain from engaging in or supporting any activity that might discredit
​the profession.

4.Credibility
a.Communicate information fairly and objectively.
b.Disclose all relevant information that could reasonably be expected
​to influence an intended user's understanding of the reports, analyses,
​or recommendations.
c.Disclose delays or deficiencies in information, timeliness, processing, or
​internal controls in conformance with organization policy and/or applicable law.


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