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 1-7 for the complete standard.

1. Devyn added in sales commissions to product costs on the financial statements because it seemed reasonable to include those costs.

2. At a neighborhood party, Taliyah talks about the upcoming bid her company is making for a city project. She shares specific cost estimates that are included in the bid.

3. Coby changed the way that manufacturing overhead is allocated to divisions on the monthly internal reports to better reflect resource usage. However, they did not note the change on any of the reports, nor did they inform any managers of the change.

4. Raquel does not disclose to her employer, Alpha Company, that her brother is the owner of a company that is bidding on a major contract with Alpha Company. Raquel is on the committee that evaluates the bids and makes a recommendation for which bid to select.

5. Anthony is asked to do an inventory count of a wide assortment of parts. Anthony does not know how to distinguish the various parts. He guesses when he enters the quantity. He does not ask for help because he does not want to look stupid.

Data From Exhibit 1-7:-

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EXHIBIT 1-7 Members of IMA shall behave ethically. A commitment to ethical professional practice includes overarching principles that express our values and standards that guide our conduct. Principles IMA's overarching ethical principles include: Honesty, Fairness, Objectivity, and Responsibility. Members shall act in accordance with these principles and shall encourage others within their organizations to adhere to them. Standards IMA members have a responsibility to comply with and uphold the standards of Competence, Confidentiality, Integrity, and Credibility. Failure to comply may result in disciplinary action. I. Competence 1. Maintain an appropriate level of professional leadership and expertise by enhancing knowledge and skills. 2. Perform professional duties in accordance with relevant laws, regulations, and technical standards. 3. Provide decision support information and recommendations that are accurate, clear, concise, and timely. Recognize and help manage risk. II. Confidentiality 1. Keep information confidential except when disclosure is authorized or legally required. 2. Inform all relevant parties regarding appropriate use of confidential information. Monitor to ensure compliance. 3. Refrain from using confidential information for unethical or illegal advantage.