Final answer:
Ethical codes for financial managers require objectivity, fairness, and accuracy in their work, not subjectivity, to maintain integrity and trust in financial reporting.
Step-by-step explanation:
A typical code of ethical conduct for financial managers or management accountants does not require subjectivity in presenting information, preparing reports, or making analyses. Instead, these professionals are expected to uphold integrity by being objective and transparent in their work, ensuring that all information is presented fairly and accurately.
This is essential for maintaining trust among stakeholders and for the effective functioning of financial markets. Situations like the one described in the Mini-Case Study Fourteen, where a new project manager attempts to misrepresent data in an evaluation report, underline the importance of adhering to ethical standards and the independence of the evaluation process.
Similarly, professional organizations, like the IEEE-CS, provide ethical codes that include commitments to quality and safety, thus illustrating the universal importance of ethics in various domains such as corporate responsibility.