Ethics Memorandum

State the context briefly in which the ethical issue originates (length should not be more than a quarter page).

Ethical Issue:
You need to explain the ethical dilemma from the perspective of Daniel, who is the professional accountant here. The IMA or CIMA code of ethics applies to the member of these professional bodies.
Hint: The dilemma here is whether Daniel should go along with the proposal of the management. Elaborate what are the stakes here if he goes along and if he does not.

Relevant Stakeholders:
Identify all the relevant stakeholders that might be affected by Daniel’s decision or have the ability to affect Daniel’s decision.

Relevant Ethical Codes:
Identify relevant ethical codes from IMA (Competence, Confidentiality, integrity and Credibility) or CIMA or both and briefly explain what the requirements of these codes are and how these codes are relevant to Daniel’s action and decision-making. Do not use direct quote from the IMA or CIMA Ethical Codes/Standards (See a couple of examples below).

Competence: (E.g., As per IMA (2017), Nick has maintained professional expertise by keeping herself up-to-date professionally. However, ….)

Credibility: (E.g., The standard of Credibility (IMA, 2017) requires professional accountants to communicate all relevant information fairly, objectively and in a timely manner. You need to state how this standard is relevant to Daniel’s action in following the demand of the management of Cheap Chips.

Resolution as per ethical guidelines provided in CIMA or IMA:
The suggested course of actions should f follow and discuss CIMA or IMA guidelines chronologically, such as,
Follow the established policy of the company
Take the issue to the immediate supervisor, if unresolved,
Take the issue to the higher level of management
Consult with an IMA or CIMA ethical consultant
Consult with attorney