Question

What are the overarching principles of the IMA Statement of Ethical Professional Practice? (4)

a) Honesty, Fairness, Objectivity, Responsibility
b) Transparency, Accountability, Confidentiality, Compliance
c) Integrity, Competence, Confidentiality, Credibility
d) Integrity, Credibility, Diligence, Compliance

Answer 1

The overarching principles of the IMA Statement of Ethical Professional Practice are Integrity, Competence, Confidentiality, and Credibility.

Step-by-step explanation:

The overarching principles of the IMA Statement of Ethical Professional Practice are Integrity, Competence, Confidentiality, and Credibility. These principles guide the conduct of professionals in the field of management accounting and finance. Let me explain each principle:

1. Integrity: Professionals should be honest, truthful, and transparent in their actions and decisions.
2. Competence: Professionals should maintain a high level of expertise and continually strive to enhance their skills and knowledge.
3. Confidentiality: Professionals should respect the confidentiality of information they receive and handle it with care and discretion.
4. Credibility: Professionals should act in a manner that enhances their reputation and the reputation of their profession.