1) Identify which ethical standards listed in the IMA Statement of Professional Practices were violated by deliberately overestimating the useful lives of depreciable assets.
The IMA Statement of Ethical Professional Practice that Waste Management violated is Integrity. Integrity is defined as an “adherence to moral and ethical principles; soundness of moral character; honesty” (Integrity) Integrity is the way that an individual or company conduct themselves. Conducting themselves with the ability as well as the responsibility of taking consequences on things that one brings on themselves. If a company treats people wrong and use unpleasant work ethics, then integrity is not being demonstrated. “Integrity.” Dictionary.com, Dictionary.com, www.dictionary.com/browse/integrity.
2) Explain the reason(s) that you selected the ethical standards you identified in #1 above.
One reason that I use integrity is that it states that each member as a responsibility to mitigate actual conflicts of interest, regularly communicate with business associates to avoid apparent conflicts of interest. Waste management did not do any of that. They did not advise all parties of any potential conflicts instead, as stated, they turned to making accounting tricks by making Wall Street think the company was still growing. They did not refrain from engaging in any …show more content…
Especially during times when there are any fundamental changes with the business. The resolution of ethical conflict first states to discuss the issue with your immediate supervisor unless he is involved. In this scenario, because it is your supervisor, then you will do to his supervisor. Secondly, clarify with an IMA Ethics Counselor or other impartial advisors for a better understanding. By doing this step, one can be confident of doing the right thing. The Counselor will back you up and explain the difficult consequences that will take place to solve the
The IMA Statement of Ethical Professional Practice that Waste Management violated is Integrity. Integrity is defined as an “adherence to moral and ethical principles; soundness of moral character; honesty” (Integrity) Integrity is the way that an individual or company conduct themselves. Conducting themselves with the ability as well as the responsibility of taking consequences on things that one brings on themselves. If a company treats people wrong and use unpleasant work ethics, then integrity is not being demonstrated. “Integrity.” Dictionary.com, Dictionary.com, www.dictionary.com/browse/integrity.
2) Explain the reason(s) that you selected the ethical standards you identified in #1 above.
One reason that I use integrity is that it states that each member as a responsibility to mitigate actual conflicts of interest, regularly communicate with business associates to avoid apparent conflicts of interest. Waste management did not do any of that. They did not advise all parties of any potential conflicts instead, as stated, they turned to making accounting tricks by making Wall Street think the company was still growing. They did not refrain from engaging in any …show more content…
Especially during times when there are any fundamental changes with the business. The resolution of ethical conflict first states to discuss the issue with your immediate supervisor unless he is involved. In this scenario, because it is your supervisor, then you will do to his supervisor. Secondly, clarify with an IMA Ethics Counselor or other impartial advisors for a better understanding. By doing this step, one can be confident of doing the right thing. The Counselor will back you up and explain the difficult consequences that will take place to solve the