"Note: You will need to go to the IMA statement of etical Professional practice when answering this question"After a competitive bidding process, a company's purchasing director awarded a contract to the lowest bidder, an organization in which she had a personal interest. Since the winning bidder had the lowest price, she did not disclose her relationship with the entity. In fact, she frequently highlighted the fact that the winning bidder had the most experience servicing contracts of this nature.Required:$1.$ Discuss the IMA's statement of eithical professional practice principles$\mathrm{.}2.$ Discuss the IMA's statement of ethical professional practice Standards$3.$ Which one of the values of ethical decision making did the purchasing director violate? explain.