Essay About 2016Ethics Issues Analysisintroductionas And Members Of Ima

Ethics Issues Analysis
Ethics AssignmentHuitong XuJune 28, 2016Ethics Issues AnalysisIntroductionAs the members of IMA, people should behave ethically. The IMA Committee on Ethics encourages organizations and individuals to adopt, promote, and execute business practices consistent with high ethical standards, by providing valuable insight in response to our changing profession (IMA Ethics Center). This assignment is to provide an opportunity for us to have a deep understand of the ethics standards by discussing the ethics dilemma. It also makes us to improve our ability to deal with the ethical conflicts. According to the “Statement of Ethics Professional Practice”, the ethics principles of IMA include:  Honesty, Fairness, Objectivity, and Responsibility. Members shall act in accordance with these principles and shall encourage others within their organizations to adhere to them (Statement of Ethics Professional Practice). There are four separate ethics situations of the four outstanding alumni in Sweetwell, Inc. The four alumni all passed the CMA exam but now they are facing some ethics problems. Rafael, a new promoted Assistant Controller, feels happy with his raise in pay but also feels unconfident to take the special project that his boss ask him to do. Elvisin, who feels so stressful in the tax department, uses a combination of illegal drugs to deal with his stress. Anna noticed some lapses in internal control through her audit process, but her supervisor doesn’t want her to deal with the gap since it can influences the payroll department, where the supervisor’s husband works in. Sam, who works in financial reporting and know some core information of the company, is forced to divulge insider information to his rich uncle who wants to invest at just the right times to make a bundle of money. They are all in danger to obey the ethics standards. Next I will analyze each situation and give the next steps for all of them.Situation AnalysisRafael may obey the “Competence” ethics standards. For Competence standard, it is said that each member has a responsibility to maintain an appropriate level of professional expertise by continually developing knowledge and skills. In this situation, Rafael is lack of knowledge and skills to take the special project. He cannot only enjoy the happiness of the raise in pay, but he has to improve himself to meet the level of professional expertise at Assistant Controller position. My suggestion for him is to admit honestly to his boss that he cannot deal with the special project since he is still lack in professional knowledge and skills. What’s more, he needs to continually recharge himself to be familiar with the professional expertise as soon as possible. Although he need great courage to admit this to his boss and also may be bear the risk that his boss will be disappointed to him, it is also better than he just bluff his way through it. If he doesn’t admit to his boss but take the project, he will make a lot mistakes even make the company lose money during the process due to his lack of expertise. At that time, I don’t think his boss will forgive him. He might even lose his job since he obeys the ethics standards. However, if he just admits to his boss, his boss might think Rafael is honest and give he some time to improve himself and give him another chance in the future.