| IMA Ethics Series: Embracing Ethics Description This course explores how non-profit organizations like the Institute of Management Accountants (IMA), academia, government and non-profit organizations are meeting the challenge of promoting an honest and ethical work environment. The course begins with IMA’s Statement of Ethical Professional Practice and provides a framework for addressing ethical issues as they arise. A case study and the misuse of the lease-in/lease-out (LILO) and sale-in/lease-out (SILO) tax shelters are covered. Fiduciary duties necessary to secure high standards of accountability are discussed and a two step process in detecting and preventing fraud is provided. CMA and CFM earn 2 CPE NASBA approved credits. The course meets the annual ethics requirement for members. Upon completing this course, you will be able to: 1. State the principles and standards of IMA Statement of Ethical Professional Practice 2. Explain the IMA’s recommended process for resolving ethical conflicts. 3. Identify the different perceptions of ethics among male and female accounting chairs. 4. List the accounting courses which more time should be spent on 5. Describe how and where ethics should be taught in the curriculum. 6. Explain why the IRS objected to LILO and SILO tax shelters. 7. Give examples of how XYZ Corporation disregarded their core values. 8. Define the type and amount of occupational fraud in organizations today 9. Summarize the two-step process for fraud prevention and detection. 10. List the five components of an effective internal control system 11. Explain the fiduciary duties of the directors of NPO’s CPE Credits: 2 hours (NASBA approved) |
