Questions for Research and Discussion
1. Visit the IMA website. List, describe, and evaluate the requirements to become a Certified Management Accountant. What topics are covered on the exam for certification? Would you be interested in a career as a management accountant?
2. Describe a time when you, or someone you know, was asked by their supervisor or manager to do something that was ethically wrong. Review the IMA Statement of Ethical Professional Practice for guidance in resolving the ethical conflict. Would this have helped resolve the ethical conflict?
a. Follow the same process, but use the International Code of Ethics for Professional Accountants as a tool for resolving the ethical conflict. Which ethical code was more helpful? Please explain.
3. How is the work of an internal auditor different from that of an external auditor (financial statements)? What are the similarities and differences between the ethical codes?
4. Visit the IIA website. Find your local chapter. What upcoming events are planned? Do any of these events interest you? Please explain.
5. Review the International Code of Ethics for Professional Accountants by creating a free account.
a. Who developed the Code?
b. Compare Part A with the principles in the AICPA Code of Conduct. How are they similar or different?
c. Compare the independence section from Part B of the International Code with Rule 101 of the AICPA Code of Conduct. How are they similar or different? Which provides better guidance?
6. After reviewing all of the ethical codes, create your own personal code of conduct by listing and describing at least four principles that you will aspire to in your career.
7. Tax preparers also have a code of ethics. Review the" Standards of Professional Conduct" issued by the National Association of Tax Professionals by visiting their website. What are the three areas of responsibility?
8. Every profession has a code of ethics. Research the code of ethics for one career path or profession (other than those in this chapter) that you are considering for a career. How does it compare to the ethical codes covered in this chapter?