What are some of the ethical responsibilities and obligations that management accountants have within an organization? Provide some examples. Are these responsibilities different than the obligations for financial accountants?
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Management accountants are tasked with giving the managers accounting information to aid in better decision making in an organization. They have chances of misusing their positions hence they need to be ethical in all their undertakings. some of the ethical responsibilities they must have include: honesty, integrity, faithfulness and loyalty. if they are not loyal, they will make poor decisions willingly at the expense of the company.
The ethical responsibilities of the management accountants and the financial accountants are almost the same, only that they report to the managers and the financial accountants to the shareholders.
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