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CIMA Ethics And Professionalism Detail Information

CIMA Ethics And Professionalism Detail Information

CIMA Ethics And Professionalism : CIMA is committed to upholding the highest ethical and professional standards, and maintaining public confidence in management accounting.

CIMA Ethics And Professionalism : A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest. Therefore, a professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employer. In acting in the public interest, a professional accountant shall observe and comply with this Code. If a professional accountant is prohibited from complying with certain parts of this Code by law or regulation, the professional accountant shall comply with all other parts of this Code.

CIMA Ethics And Professionalism : This Code contains three parts. Part A establishes the fundamental principles of professional ethics for professional accountants and provides a conceptual framework that professional accountants shall apply to:

a) Identify threats to compliance with the fundamental principles;

b) Evaluate the significance of the threats identified; and

c) Apply safeguards, when necessary, to eliminate the threats or reduce them to an acceptable level. Safeguards are necessary when the professional accountant determines that the threats are not at a level at which a reasonable and informed third party would be likely to conclude, weighing all the specific facts and circumstances available to the professional accountant at that time, that compliance with the fundamental principles is not compromised. A professional accountant shall use professional judgement in applying this conceptual framework.

CIMA Ethics And Professionalism : Parts B and C describe how the conceptual framework applies in certain situations. They provide examples of safeguards that may be appropriate to address threats to compliance with the fundamental principles. They also describe situations where safeguards are not available to address the threats, and consequently, the circumstance or relationship creating the threats shall be avoided. Part B applies to professional accountants in public practice. Part C applies to professional accountants in business. Professional accountants in public practice may also find Part C relevant to their particular circumstances.

CIMA Ethics And Professionalism : The use of the word ‘shall’ in this Code imposes a requirement on the professional accountant or firm to comply with the specific provision in which ‘shall’ has been used. Compliance is required unless an exception is permitted by this Code.

CIMA Ethics And Professionalism : A professional accountant shall comply with the following fundamental principles:

a) Integrity – to be straightforward and honest in all professional and business relationships.

b) Objectivity – to not allow bias, conflict of interest or undue influence of others to override professional or business judgments.

c) Professional Competence and Due Care – to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional services based on current developments in practice, legislation and techniques and act diligently and in accordance with applicable technical and professional standards.

d) Confidentiality – to respect the confidentiality of information acquired as a result of professional and business relationships and, therefore, not disclose any such information to third parties without proper and specific authority, unless there is a legal or professional right or duty to disclose, nor use the information for the personal advantage of the professional accountant or third parties.

e) Professional Behaviour – to comply with relevant laws and regulations and avoid any action that discredits the profession.

CIMA Ethics And Professionalism :  Complete details

The Chartered Institute of Management Accountants (CIMA) qualification is one of the most globally-recognised and sought-after business accreditations. It combines accounting, finance and management with the leading-edge skills and techniques that drive successful modern businesses. Revision is more than memorising facts and going over notes. You can practice an exam by answering real questions from past papers. This will give you a better chance of passing.

CIMA Ethics And Professionalism

CIMA Ethics And Professionalism : 

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