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A new management accountant is concerned about complying with the ethical standard of Competence in the...

A new management accountant is concerned about complying with the ethical standard of

Competence in the IMAs Statement of Ethical Professional Practice. Which one of the following

Is not required under the standard of competence? and why i choose this option

Business   Accounting   
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Answer #1

Maintain expertise in all areas of accounting, is the correct answer. Maintaining expertise in all areas of accounting is not a possible task. According to the ethical standard of competence in the IMAs Statement of Ethical Professional Practice, a new management accountant only needs to identify and communicate professional limitations that would provide the successful performance of an activity instead of all areas of performance.

Thanks and all the best.....

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