Instructor for this course

This course provides an overview of ethical challenges and dilemmas that accountants frequently face and provides strategies for dealing with those dilemmas. 


The course draws on several real-world frauds to illustrate the “slippery slope” that often leads to fraudulent behavior. The course also covers the three elements of the “The Fraud Triangle”, providing insight into the conditions that can result in fraud.


This course covers the Professional Ethics material contained in the content specification outline for the Certified Management Accountant (CMA) Part 2 examination. 



Topics include: 

  • Ethical considerations for accounting professionals.
  • Ethical dilemmas.
  • Examples of fraud.
  • Strategies for dealing with ethical dilemmas.
  • The Fraud Triangle.
  • Differences between legal and ethical behavior. 
  • Ethical aspects of the Foreign Corrupt Practices Act (FCPA) and the Sarbanes-Oxley Act (SOX). 
  • Ethical considerations for accounting organizations.

Course Key Concepts: Ethics, ethical behavior, fraud, collusion, embezzlement, Sarbanes-Oxley (SOX), Financial Corrupt Practices Act (FCPA), WorldCom fraud, Sunbeam fraud, The Fraud Triangle, Institute of Management Accountants (IMA) Statement of Ethical Professional Practice.

Learning Objectives

  • Explore the four standards of the Institute of Management Accountants (IMA) “Statement of Ethical ProfessionalPractice”, competence, confidentiality, integrity, and credibility.
  • Recognize how ethical issues such as manipulation of results, analysis, and budgets can develop. 
  • Identify the appropriate course of action for management accountants to take when confronted with an ethical dilemma.
  • Identify the three components of the Fraud Triangle model.
  • Identify the purpose of the Foreign Corrupt Practices Act (FCPA) and the practices it prohibits
  • Identify the requirements of Sarbanes-Oxley Act (SOX) Section 406, Code of Ethics for Senior Financial Officers. 
  • Distinguish between ethical behavior and legal compliance. 
  • Identify the key elements of a conflict of interest provision.
  • Explain the importance of ethical codes of conduct for organizations.
Last updated/reviewed: November 17, 2019

10 Reviews (46 ratings)Reviews

Member's Profile
One of the more thorough treatments of ethics for the accountant courses that I have experienced. A detailed look at the pillars of the Institute of Management Accountants ethics framework and ample consideration of real-world examples and case studies. Covers the topic very well!
Anonymous Author
Great course. Stated learning objectives were met. Program materials were relevant and contributed to the achievement of the learning objectives
Member's Profile
Quite thorough and well researched. Appreciated the following sections on the code of conduct and conflicts of interest statements.
Member's Profile
Good course and refresher on ethics. Enjoyed the real life examples to give color to the subject matter.
Member's Profile
Nice course on Ethics and code of conduct. All members should take this course.
Anonymous Author
It was an interesting course with good examples and a knowledgeable instructor.
Anonymous Author
Enjoyed the delivery of the presenter. The presentation was well organized.
Member's Profile
I liked the real world examples to help relate to my personal experiences
Anonymous Author
Excellent course. This was a helpful refresher of this subject area.
Anonymous Author
The lecture is ok, but the way the exam was structured is so tricky.


Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
  18:07Introduction to Ethical Standards for Certified Managerial Accountants (CMA’s)
  13:35Ethical Dilemmas
  13:27Ethical Dilemmas Continued
  12:41Resolving Ethical Dilemmas
  11:39The Fraud Triangle
  13:18The Fraud Triangle Continued
  10:23Ethical Versus Legal Behavior
  14:59The Foreign Corrupt Practices Act, The Sarbanes-Oxley Act, and Ethics
  16:58The Foreign Corrupt Practices Act, The Sarbanes-Oxley Act, and Ethics Continued
  15:03Ethical Considerations for Organizations
  8:58Ethical Considerations for Organizations Continued & Wrap Up
  2:29:07Professional Ethics for Accountants
  PDFSlides: Professional Ethics for Accountants
  PDFIMA Statement of Ethical Professional Practice
  PDFProfessional Ethics for Accountants Glossary/Index