Unformatted text preview: entirely of independent members (that is, non-employees) and must contain at least one financial expert. Finally, to increase the likelihood of compliance with the rules that are part of the new legislation, the law substantially increases the penalties for misconduct. To provide guidance for managerial accountants, the Institute of Management Accountants (IMA) has developed a code of ethical standards, entitled IMA Statement of Ethical Professional Practice. Management accountants should not commit acts in violation of these standards. Nor should they condone such acts by others within their organizations. The IMA code of ethical standards can be accessed at www.imanet.org . Throughout the managerial accounting chapters, we will address various ethical issues managers face....
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- Fall '11
- Ethics , ethical standards, Ethical Professional Practice, various ethical issues, financial statements. CEOs