Question: For each of the situations listed identify the primary standard

For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility). Refer to Exhibit 1- 6 for the complete standard.
a. Julie does not include an estimate of maintenance costs associated with a new computer system. She knows that her department needs the computer system. If the maintenance costs were included in the estimate, the computer system purchase might not be approved.
b. Geoffrey is a staff accountant. He has recently been moved into a position where he will be working on capital budgeting proposals. Geoffrey does not know how to make an NPV calculation, but he does not take the steps to acquire the skills. He figures he can use ARR and payback for investment analysis instead.
c. Terrance’s company is in negotiations to purchase one of its suppliers. Terrance, a management accountant, does not disclose that his mother is a major stockholder of the supplier. ETHICS C
d. Anthony is anxious to impress his date, Sonja. Sonja works in Purchasing, while Anthony works in Accounting. When they start talking about people they work with, Anthony shares salary information about each person.
e. Marcella accepts a kickback payment from a contractor to make sure that the contactor’s bid is accepted.

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  • CreatedAugust 27, 2014
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