According to the IMA Statement of Ethical Professional Practice, what should a management accountant do if a significant ethical situation can't be resolved?
A)The accountant should confront the guilty party and demand the unethical action be stopped.
B)The accountant should try to rationalize and understand the position of the other party.
C)The accountant should say nothing about the matter until he or she has retired.
D)The accountant should first discuss the matter with the immediate supervisor.

Question

Quizplus · Accepted Answer

The IMA Statement of Ethical Professional Practice states that if a management accountant encounters a significant ethical situation that cannot be resolved, they should first discuss the matter with their immediate supervisor. This allows for the issue to be addressed internally and potentially resolved within the organization. Option A is not recommended as it could potentially escalate the situation and create further ethical dilemmas. Option B is also not recommended as it suggests justifying unethical behavior. Option C is not ethical as it involves withholding information and not addressing the issue.

According to the IMA Statement of Ethical Professional Practice, What