Using either the Statement of Ethical Professional Practice issued by the Institute of Management Accountants’ (IMA, 2017) or The Code of Ethics for Professional Accountants published by CIMA (2017), to produce a written memorandum that addresses the following issues.

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Ethical Professional Practice

Using either the Statement of Ethical Professional Practice issued by the Institute of Management Accountants’ (IMA, 2017) or The Code of Ethics for Professional Accountants published by CIMA (2017), to produce a written memorandum that addresses the following issues:

  • Determine whether there is an ethical dilemma for Daniel in this scenario.
  • Identify the relevant stakeholders and state how they are impacted by the issue.
  • Within your answer apply the Code’s fundamental principles/standards (i.e. integrity, objectivity, competence and confidentiality) to the case scenario and explain whether each is relevant for determining Daniel’s ethical position.
  • Briefly discuss the range of solutions that Daniel could use to resolve the situation according to the ethical conflict resolution guidance provided in IMA and/or CIMA and explain the most appropriate course she should adopt.