Question

The Institute of Management Accountants' Statement of Ethical Professional Practice requires managerial accountants to meet standards regarding competence, confidentiality, integrity, and credibility. Consider the following situations. Which standard(s) is(are) violated in each situation? (Click the icon to view the situations.) a. Providing earnings information to your brother before it is publicly announced violates the confidentiality standard. b. Stealing from your employer is a violation of the integrity standard. c. Skipping continuing education sessions could violate the requirement to maintain professional competence If your company paid for you to attend the conference, skipping the sessions also violates the integrity . standard. d. Failing to read the specifications of the software package before purchasing it violates the competence standard. e. Failing to provide top management with detailed job description information violates the credibility If you did not provide the information because you fear losing your position also violates the integrity standard. standard. More Info a. You tell your brother that your company will report earnings significantly above financial analysts' estimates. b. You see others take home office supplies for personal use. As an intern, you do the same thing, assuming that this is a "perk." c. At a company-paid conference on e-commerce, you skip the afternoon session and go sightseeing. d. You failed to read the detailed specifications of a new accounting software package that you asked your company to purchase. After it is installed, you are surprised that it is incompatible with some of your company's older accounting software. e. You do not provide top management with the detailed job descriptions they requested because you fear they may use this information to cut a position in your department. Click to select your answer(s). Print Print Done one

Answer 1

Answer -

a.	Providing earnings information to your brother before it is publicly announced violates the confidentiality standard.
b.	Stealing from your employer is a violation of the integrity standard.
c.	Skipping continuing education sessions could violate the requirement to maintain professional competence. If your company paid for you to the attend the conference, skipping sessions also violates the integrity standard.
d.	Failing to read the specifications of the software package before purchasing it violates the competence standard.
e.	Failing to provide top management with detail job description information violates the credibility standard. If you did not provide the information because you fear losing your position also violates the credibility standard.