The IMA standards of ethical practice provide that accountants should continually develop their knowledge and skills.

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The Code of Ethics for Professional Accountants of the International Federation of Accountants (IFAC) requires that professional accountants continue their professional development throughout their careers and update their knowledge and skills to ensure that they remain competent. The Institute of Management Accountants (IMA) has a similar standard in their Statement of Ethical Professional Practice, which requires members to "develop their knowledge, skills, and abilities to improve their performance and enhance their value to their organizations."

The IMA Standards of Ethical Practice Provide That Accountants Should