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In reading through the Standards of Ethical Conduct for Management Accountants, I do feel that this would be effective in an organization. Quite honestly, I feel that most of the standards are common knowledge and are expectations of any working professional, however it's important to have them written out so that there is never a question regarding ethical behavior.

I was not surprised by any of the points covered in the code, but I was impressed to see that there was advice on how to handle unethical issues all the way up to leaving the organization if the unethical behavior continues despite trying to mitigate it.

The standards of ethical conduct for management accountants differs slightly from those for financial accountants mainly regarding who their ethical actions are mean to protect. For management accountants, the standards are written so that the accountant will act in the best interests of the business, whereas the standards for the AICPA are written to protect the client/public. The standards themselves are not all that different. The standards for the IMA are: Competence, Confidentiality, Integrity, and Credibility (Institute of Management Accountants, 2017). The standards for the AICPA are: Responsibilities, The Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of Services (American Institute of Certified Public Accountants, 2014).

References:

Institute of Management Accountants. (2017). IMA Statement of Ethical Professional Practice. https://www.imanet.org/research-publications/statements-on-management-accounting/ima-statement-of-ethical-professional-practice

American Institute of Certified Public Accountants. (2014). Code of Professional Conduct. https://us.aicpa.org/content/dam/aicpa/research/standards/codeofconduct/downloadabledocuments/2014december14codeofprofessionalconduct.pdf