IMA has been committed to advocating the highest standards of ethical business practices—both for its members and the profession at large—since the organization was founded in 1919. In the early 1980s, IMA took a bold leadership role in the area of ethics by developing its first written code of ethics: Standards of Ethical Conduct of Management Accountants. In 2005, in the wake of global financial scandals and an increasing need for more direct ethical guidelines, IMA issued new guidance to better reflect the ethical climate of the time. The result was the IMA Statement of Ethical Professional Practice, which required each IMA member to be committed to the highest ethical behavior.

    After considering the many changes in the business and regulatory environment, including the globalization of commerce and the management accounting profession, IMA determined to issue a revised Statement in 2017, which is published here as a Statement on Management Accounting. More concise and simpler to understand and apply, this updated version more fully reflects the global scope of management accounting. It also requires IMA members to contribute to a positive ethical culture in their organization and to place integrity of the profession above personal interests. These requirements recognize the need for members to take an active role in ensuring their organization has a strong, open, and positive ethical culture.