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IMA Vs ACFE

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The IMA Statement of Ethical and Professional Practice is a worldwide association of accountants and financial professionals working in business. Their work is to expand professional skills of their clients and to enlighten them on how they can better manage their organization and enhance their career. On the other hand Association of Certified Fraud Examiners, ACFE, is an anti-fraud organization and premier provider of anti-fraud training and education. It majorly specializes in reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. I chose to analyze the two because of how closely related the jobs that the organizations do. The organizations have similar business objectives because they directly deal with people and not products. Both the IMA and ACFE codes exist to provide order for the organizations. In fact the codes serve rules or common procedures to be followed by the employees of the organizations. The …show more content…

The statement of professional ethical practice in the IMA code exists to emphasize that everyone should behave ethically. Furthermore, IMA points out Honesty, Fairness, Objectivity, and Responsibility as standards and goes on to outline the principles. This organization does not exist in the ACFE code. Secondly, while ACFE outlines only the procedures and values to be followed, IMA goes further to give the procedures to be followed in conflict resolution in case of any conflict. IMA has outlined the various stages of conflict resolution, a part that misses in the ACFE code. Finally, while IMA encourages their agents to discuss issues with their immediate supervisors, IMA stresses on secrecy but to specific individuals. In fact an agent has to be authorized before sharing any conflicts with their immediate

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