Ima's Statement Of Ethical Professional Practice

a) The four standards of ethical conduct covered by the IMA's Statement of Ethical Professional Practice included competence, confidentiality, integrity and credibility. First standard is competence, each member has a responsibility to maintain an appropriate level of professional expertise by developing knowledge and skills continually, performing professional duties according to relevant laws, regulations and technical standards, providing decision support and business analysis information and recommendations which are accurate, clear, concise, and timely, and recognising and communicating professional limitations or other constraints that would get rid of the responsible judgment or successful performance of an activity. The second standard is confidentiality. Besides when disclosure is authorised or legally required, each member has a responsibility to keep information confidential. Member also has to inform all relevant parties regarding appropriate use of confidential information and monitor subordinates’ activities to ensure compliance. Preventing the use of confidential information for unethical or illegal advantage is another responsibility under confidential. Next standard is integrity. Responsibility for each member under integrity included the mitigating actual conflicts of interest and constantly communicating with business associates to avoid apparent conflicts of interest and advising all parties of any potential conflicts. Member also take the responsible to avoid from engaging in any conduct that would prejudice carrying out duties ethically and preclude from engaging in or supporting any activity that might discredit the profession. Last but not least, credibility is also one of the standards. Each member has a r...

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...cal conflict is to discuss the issue with her immediate supervisor except her supervisor is involved in the conflict. In this case, she could report the issue to the next level. For instance, Vivian can approach the issue to chief executive which has the higher authorities than the senior executive who involved in corruption. After that, Vivian could also present the relevant issue to the next management level if she cannot get a satisfy resolution. The third and fourth guidelines’ actions cannot be taken by Vivian, but can be taken by the person who held higher position and has greater authority than the senior executive. The related authorities could initiate a discussion with ICMA Ethics Committee Representative or other impartial advisor. Besides, the company or organisation could also refer to attorney for legal obligations and rights about the ethical conflict.