The Standards of Ethical Conduct for Management Accountants (Statement 1C) promulgated by the National Association of Accountants on June 1, 1983, are described and critiqued in this article. Four major issues related to the issuance of the standards are discussed: (1) What are the basic requirements of any ethical system? Does Statement IC meet these requirements? (2) Should a professional be ethical? (3) If ethical behavior is desirable for management accountants, should such standards be formally expressed in writing? (4) If the standards are expressed in writing, what format should be adopted for the content and how should the standards be expressed?
Charles J. Woelfel is Professor of Accounting at the University of North Carolina at Greensboro and a Certified Public Account. He holds a Ph.D. degree from the University of Texas at Austin. He has published five textbooks and over 100 articles appearing in professional accounting and education journals.