Management accountants have an obligation to the organizations they serve, their profession, the public, and themselves to maintain the highest standards of ethical conduct. In recognition of this obligation, the Institute of Certified Management Accountants and the Institute of Management Accountants have adopted the following standards of ethical conduct for management accountants. Adherence to these standards is integral in achieving the objectives of management accounting. Management accountants may not commit acts contrary to these standards nor shall they condone the commission of such acts by others within their organizations.

Competence

• Maintain an appropriate level of professional competence by ongoing development of their knowledge and skills.
• Perform their professional duties in accordance with relevant laws, regulations and technical standards.
• Prepare complete and clear reports and recommendations after appropriate analysis of relevant and reliable information.

Confidentiality

• Refrain from disclosing confidential information acquired in the course of their work, except when authorized, unless legally obligated to do so.
• Inform subordinates as appropriate regarding the confidentiality of information acquired in the course of their work and monitor their activities to assure the maintenance of that confidentiality.
• Refrain from using or appearing to use confidential information acquired in the course of their work for unethical or illegal advantage either personally or through third parties.

Integrity

• Avoid actual or apparent conflicts of interest and advise all appropriate parties of any potential conflict.
• Refrain from engaging in any activity that would prejudice their ability to carry out their duties ethically.
• Refuse any gift, favor or hospitality that would influence or appear to influence their actions.
• Refrain from either actively or passively subverting the attainment of the organization's legitimate and ethical objectives.
• Recognize and communicate professional limitations or other constraints that would preclude responsible judgment or successful performance of an activity.
• Communicate unfavorable as well as favorable information and professional judgments or opinions.
•  Refrain from engaging in or supporting any activity that would discredit the profession.

Objectivity

• Communicate information fairly and objectively.
• Disclose fully all relevant information that could reasonably be expected to influence an intended users understanding of the reports, comments and recommendations presented.