ETH 52-17 ldentify ethical standards violated (Learning Objectives 1, 2, 3, 4, 5, 6, & 7) 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 1-6 for the complete standard. 1. Chris overhears a subordinate at a mutual friends party tell others about a confiden- tial deal with a supplier to get raw materials for a price lower than market price. Chris does not anything about subordinateindiscrete conversation do the s 2. Maxwell pays a Mexican official a bribe of $50000 to allow the company to locate a in that that can take of the cheaper factory jurisdiction so the company advantage labor costs. Without the bribe, the factory cannot be located in that location. 3. There is a failure in the company's backup system after a system crash. Month-end reports will be delayed. Mark, the manager of the division experiencing the system failure, does not report this upcoming delay to anyone since he does not want to be the bearer of bad news. 4. To reduce the companys tax billJillian uses total cost to value inventory instead of using product cost as required by law. 5. Since Michael works in the accounting department, he is aware that profits are going to fall short of analysts' projections. He tells his father to sell stock in the company before the earnings release date