The four standards are competence, confidentiality, …show more content…
Rafael, Elvis, Anna, and Sam are all licensed managerial accountants working for the same company. As CMA certified management accountants, they not only are obligated to follow the company code of conduct policy but also, must comply with the highest standard of ethical conduct as members of the IMA; adhering to the four standards of competence, confidentiality, integrity, and credibility. However, each of them are confronted with an ethical conflict within their department; Rafael, Elvis, Anna, and Sam work different departments at Steelwell Inc, and each is dealing with an unethical situation that challenges their moral character and requires them to decide that not only impacts their work performance, but the company’s ability to function as …show more content…
He is faced with an unpleasant conflict of interest. As a member of the IMA, his decision to share the future earnings of his company could severely put Steelwell Inc, at a competitive disadvantage. As a member of the IMA, Sam would violate the standard of integrity and confidentiality if he caves under his Uncle’s request by disclosed private financial information. Not only would he lose his CMA certification, he would also be committing career suicide, potentially facing criminal charges for his actions. To avoid these repercussions, Sam needs to maintain his professional integrity and refrain from violating the IMA standard of confidentiality which asks members to “refrain from using confidential information for unethical or illegal