CMA US Ethics Requirement

Adherence to the IMA's Statement of Ethical Professional Practice is mandatory for all CMA candidates and members.

Commitment to Ethical Practice

The Certified Management Accountant (CMA) designation is a mark of professional excellence and integrity. A commitment to ethical professional practice is a cornerstone of the CMA certification. All members of the Institute of Management Accountants (IMA) and all candidates for the CMA certification must abide by the principles and standards outlined in the IMA's Statement of Ethical Professional Practice.

Overarching Ethical Principles

The IMA's ethical statement is based on four overarching principles that express the values of the management accounting profession. Members and candidates are expected to conduct themselves with:

Honesty
Fairness
Objectivity
Responsibility

These principles guide the specific standards of conduct below. Failure to comply with these standards may result in disciplinary action.

Standards of Ethical Conduct

The statement outlines four key standards that every management accountant must uphold. These standards are not just rules to follow; they are a framework for making sound, ethical decisions in complex business situations.

I. Competence

Each member has a responsibility to:

Maintain an appropriate level of professional leadership and expertise by enhancing knowledge and skills.
Perform professional duties in accordance with relevant laws, regulations, and technical standards.
Provide decision support information and recommendations that are accurate, clear, concise, and timely.
Recognize and help manage risk.

II. Confidentiality

Each member has a responsibility to:

Keep information confidential except when disclosure is authorized or legally required.
Inform all relevant parties regarding appropriate use of confidential information. Monitor to ensure compliance.
Refrain from using confidential information for unethical or illegal advantage.

III. Integrity

Each member has a responsibility to:

Mitigate actual conflicts of interest. Regularly communicate with business associates to avoid apparent conflicts of interest.
Refrain from engaging in any conduct that would prejudice carrying out duties ethically.
Abstain from engaging in or supporting any activity that might discredit the profession.

IV. Credibility

Each member has a responsibility to:

Communicate information fairly and objectively.
Provide all relevant information that could reasonably be expected to influence an intended user's understanding.
Disclose delays or deficiencies in information, timeliness, processing, or internal controls.
Communicate professional limitations or other constraints that would preclude responsible judgment.

For the full statement, please refer to the official IMA website.

Resolution of Ethical Conflict

When faced with ethical issues, you should follow your organization's established policies on the resolution of such conflict. If these policies do not resolve the ethical conflict, the IMA recommends the following course of action:

Discuss the issue with your immediate supervisor, except when it appears that the supervisor is involved. In that case, present the issue to the next management level.
If a satisfactory resolution cannot be achieved when the issue is initially presented, submit the issue to the next management level.
If your immediate superior is the chief executive officer or equivalent, the acceptable reviewing authority may be a group such as the audit committee, executive committee, board of directors, board of trustees, or owners.
Contact with authorities or individuals not employed or engaged by the organization is not considered appropriate, unless you believe there is a clear violation of the law.
For additional guidance, you may consult IMA's anonymous and confidential ethics hotline and/or seek your own legal counsel.