11) In the United States, the Institute of Management Accountants (IMA) issues ethical guidelines.

12) Ethics form the basic foundation of any well-functioning economy.

13) What are the four standards of ethical conduct for management accountants. List each standard and provide an example that demonstrates compliance with that standard.

14) What should a managerial accountant do when faced with ethical issues that arise in their organizations?

15) You have been employed as an entry-level management accountant at a pharmaceutical manufacturing firm for less than one year. You suspect that your immediate supervisor is involved in a significant fraud that involves diverting company assets to personal use. Briefly describe the steps that you might take to resolve this dilemma.


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