The Institute of management Accountants (IMA) has established ethical standards for management accountants. Management accountants are subject to this professional code and have been advised that, “they shall not commit acts contrary to these standards nor shall they condone the commission of such acts by others in their organizations.” The standards and the recommended resolution of ethical conflict are presented in Exhibit 1-3. The code has five major division: competence, confidentiality, integrity, credibility, and resolution of ethical conflict.