The managerial accountant at XYZ Company told her friend that the company expects to announce a major recall in a few weeks. The friend promptly sells all her stock in XYZ. The accountant violated which IMA Statement of Ethical Professional Practice standards? a. Integrity
b. Confidentiality
c. Credibility
d. Competence

D) Competence

Explanation:

From the question we are informed about The managerial accountant at XYZ Company who told her friend that the company expects to announce a major recall in a few weeks. The friend promptly sells all her stock in XYZ. In this case, The accountant violated IMA Statement of Ethical Professional Practice standards of competence.

The IMA Statement of Ethical Professional Practice can be regarded as a body that has principles that is

similar to that of overarching principles, these principles gives expressions of our values, as well as standards that is been put in better place to guide our conduct. Each of members is been subjected to responsibility such as to complying with as well as upholding the standards of these terms;

✓Competence

✓Confidentiality

✓ Integrity

Under the competence, Each member is been charged with responsibility of Maintaining appropriate professional leadership level as well as expertise through the enhancement of knowledge and skills, professional duties is required to be performed base on technical standards, relevant laws as well as regulations, and the provision of decision support information as well as accurate recommendations