{"id":208999,"date":"2025-04-28T09:09:55","date_gmt":"2025-04-28T09:09:55","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=208999"},"modified":"2025-04-28T09:09:57","modified_gmt":"2025-04-28T09:09:57","slug":"the-standards-of-the-ima-statement-of-ethical-professional-practice-include-which-of-the-following","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2025\/04\/28\/the-standards-of-the-ima-statement-of-ethical-professional-practice-include-which-of-the-following\/","title":{"rendered":"The standards of the IMA Statement of Ethical Professional Practice include which of the following"},"content":{"rendered":"\n<p>The standards of the IMA Statement of Ethical Professional Practice include which of the following?<\/p>\n\n\n\n<p>A. Integrity<br>B. Honesty<br>C. Fairness<br>D. Objectivity<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-ast-global-color-6-color\"><strong>The correct answer and explanation is :<\/strong><\/mark><\/p>\n\n\n\n<p>The correct answer is <strong>D. Objectivity<\/strong>.<\/p>\n\n\n\n<p>The <strong>IMA Statement of Ethical Professional Practice<\/strong> outlines principles that members of the Institute of Management Accountants (IMA) should follow to maintain ethical conduct in their professional practices. Among the key standards outlined in this statement are <strong>integrity<\/strong>, <strong>objectivity<\/strong>, <strong>professional competence<\/strong>, <strong>confidentiality<\/strong>, and <strong>professional behavior<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Explanation:<\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Objectivity<\/strong> refers to the requirement for members to avoid conflicts of interest and to refrain from bias in their professional judgments. It is an essential standard in professional ethics because it ensures that decisions are made based on facts and sound reasoning, rather than personal biases or external influences. Objectivity helps maintain the credibility and reliability of the management accounting profession, as it ensures that financial information and decisions are presented fairly and transparently.<\/li>\n\n\n\n<li><strong>Integrity<\/strong> and <strong>honesty<\/strong> are also vital ethical principles but are not specifically listed in the IMA Statement as independent principles. However, integrity is embedded within the standard of objectivity, as professionals are expected to be honest and straightforward in all their dealings. Integrity is about maintaining high moral principles, being honest, and ensuring consistency in professional actions.<\/li>\n\n\n\n<li><strong>Fairness<\/strong> is similarly important but is typically a consequence of the application of objectivity and integrity. Professionals are expected to treat all parties equitably and to avoid any actions that could give an unfair advantage or create an unjust situation.<\/li>\n<\/ol>\n\n\n\n<p>Thus, while all of these concepts play a role in ensuring ethical behavior, the <strong>IMA Statement of Ethical Professional Practice<\/strong> specifically includes <strong>objectivity<\/strong> as a central standard, emphasizing the importance of impartiality and unbiased decision-making in the accounting and management fields. This ensures that professionals adhere to the highest standards of conduct and support the credibility of financial reporting and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The standards of the IMA Statement of Ethical Professional Practice include which of the following? A. IntegrityB. HonestyC. FairnessD. Objectivity The correct answer and explanation is : The correct answer is D. Objectivity. The IMA Statement of Ethical Professional Practice outlines principles that members of the Institute of Management Accountants (IMA) should follow to maintain [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-208999","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/208999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=208999"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/208999\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=208999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=208999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=208999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}