Question

Everything is clear. Could Someone Help Me Please. Thanks In Advance

refer to Exhibit 1-7 answer the following questions: 1. WRITE 6-7 SENTENCES FOR YOUR RESPONSE: What is (are) the ethical issue(s) in this situation? WRITE 7-8 SENTENCES FOR YOUR RESPONSE: What are Jane's responsibilities as a management accountant? 3. WRITE 8-9 SENTENCES FOR YOUR RESPONSE: Has Jane violated any part of the IMA Statement of Ethical Professional Practice? Support your answer. Ethics and casual conversations: Jane is an accountant at Merelix, a large intemational firm where she works on potential acquisitions. When Merelix is preparing to acquire a company, Jane is involved in filing the necessary paperwork with the Securities and Exchange Commission (SEC). Jane has been dating Tom for two years; they are now discussing marriage. Tom works as a salesperson for a golf equipment distributor. Over the past two years, Jane has talked with Tom about what she's doing at work. She does not go into great detail, but does occasionally mention company names. Jane has given her phone passcode to Tom so he can answer calls for her or look things up for her when she's the one driving. Tom has read some of her em ails by using the phone passcode. He has also eavesdropped on a few phone conversations she has had when a colleague calls her from work with a question. Unbeknownst to Jane, Tom has been sharing the information he has gotten from her with his stockbroker friend, Allen. Tom will call Allen to give him a "heads up” that Jane's company is going to be acquiring another company soon. Allen will then place an order to buy the stock of the company and will later split the profits with Tom. Jane has not shared any information intentionally, nor has she directly profited from it.

Answer 1

Question : What is(are) the ethical issue(s) in this situation?

Answer : The ethical issues involved in this situation are confidentiality and integrity . It is Jane's job to not disclose confidential information to anyone under any circumstance unless required by the law. But Jane herself failed to do so. She has unnecessarily discussed her company's details with Tom and also did not take appropriate measures to monitor the compliance as she had no protection to confidential data in her phone.

It is Jane's duty to place integrity of the profession above personal interests, which she failed to do.

Question : What are Jane's responsibilities as a management accountant ?

Answer: : Jane's respondibilities as management accountant are as follows :

• Formulate Business Strategies
• Advisory on financial implications of various decisions.
• Directing and controlling operational activities
• Implementing fraud prevention and Internal control systems
• Performance measurement
• Motivating employees
• Estimating company's competitive position

Question : Has Jane violated any part of the IMA Statement of Ethical Professional Practice? Support your answer.

Answer : Yes, Jane has violated the Standard of Confidentiality and Integrity of the IMA Statement of Ethical Professional Practice and this would result in a disciplinary action against her.

The violation caused by Jane are :

Confidentiality :

Jane failed to inform all relevant parties regarding the appropriate use of confidential information and monitor to endure compliance She has unnecessarily discussed her company's details with Tom and also did not take appropriate measures to monitor the compliance as she had no protection to confidential data in her phone.

Intergrity :

Jane failed to refarin from engaging in any conduct that would prejudice carrying out duties ethically ,to abstain from engaging in in or supporting any activity that might discredit the profession and to place integrity of the profession above personal interests.