Name the four areas in which standards of ethical conduct exist for management accountants. What organization sets forth these standards?

The fundamental knowledge to help answer the question will be using “Horngren’s Cost Accounting” text, to help facilitate the discussion
 
The Institute of Management Accountants (IMA) sets forth these standards. And a quick note before even diving into the standards, IMA’s overarching ethical principles include: Honesty, Fairness, Objectivity, and Responsibility.
 
The Standards includes: Paraphrasing and summarizing the points
 

• Competence – This means ensuring there is an appropriate level of professional expertise and duties, of developing knowledge and being in accordance with laws, rules, and regulations (respectively).

 

• Confidentiality – This means “keeping of information” confidential, while informing all relevant parties, regarding what is the appropriate use of confidential information.

 

• Integrity – This means mitigating actual conflicts of interest, refraining from conduct that would lend itself to prejudice of carrying out duties, and abstaining from activities that may discredit the profession.

 

• Credibility – This means communicating information fairly and objectively, disclosing all relevant information that can affect recommendations or analyses, and ensuring the timeliness, internal controls, and the right processes with organizational policies.