The Institute of Management Accountants, like other professional organizations, has produced a statement of ethics that its members are expected to follow. Find the IMA Statement of Ethical Professional Practice and read it in its entirety.

1. Describe the ethical principles and standards advocated by the IMA.

2. Describe how ethical issues should be resolved.

3. Then determine if, and/or, how the IMA sanctions members that have acted unethically. Find the Association of Certified Public Accountants (AICPA) statement on ethics and compare and contrast it with the IMA’s ethical principles and standards, resolution of ethical issues, and possible sanction of members who have acted unethically.