The Institute of Management Accountants' Statement of Ethical Professional Practice

question 10

Multiple Choice

The Institute of Management Accountants' Statement of Ethical Professional Practice states that when faced with significant ethical issues, management accountants should first:

• A) discuss such problems with the immediate superior except when it appears that the superior is involved.
• B) clarify relevant concepts by confidential discussion with an objective advisor to obtain an understanding of possible courses of action.
• C) follow the established policies of the organization bearing on the resolution of such conflict.
• D) submit an informative memorandum describing the ethical issue to an appropriate representative of the organization and resign if no action is taken as a result of the memorandum.

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Definitions:

Workforce Reduction

Strategies and practices aimed at decreasing the number of employees within an organization through layoffs, attrition, or retirements.

Senior Management

Top-level executives responsible for the strategic direction and overall operations of an organization.

Artificial Intelligence

The simulation of human intelligence processes by machines, especially computer systems, enabling them to perform tasks that typically require human intelligence, such as learning, reasoning, and self-correction.

HR Practices

Policies, procedures, and strategies employed in the management of an organization's human resources to achieve desired outcomes.