Ethics continues to be a hot issue in the business world. Attention to business ethics has grown after several significant corporate scandals beginning in the millennium. These scandals prompted the government to pass new accounting standards to increase scrutiny and accuracy of financial reporting. An important piece of legislation is the Sarbanes-Oxley Act of 2002, which applies to publicly traded companies. The basis of Sarbanes-Oxley is to increase the reliability and accuracy of financial reporting (Noreen). At the time of these scandals, many companies and individual professions already had ethical and accounting standards in place. Subsequently, more and more companies have developed ethical codes of conduct. Codes typically have a broad definition and rarely provide detailed, acceptable behavior. Essentially, the code of conduct broadens the definition of right behavior ethics, which is the study of right and wrong behavior (Miller). The Institute of Management Accountants (IMA) has adopted a code of ethics called the Statement of Ethical Professional Practice that describes, in detail, the ethical responsibilities of management accountants. All employees must follow ethical business practices to maintain a healthy economy based on trust in the reliability and fairness of daily transactions (Noreen). As a result, management accountants must adhere to the standards set out in the IMA's Statement of Ethical Professional Practice, otherwise they will lose the trust of their colleagues and clients and could risk prosecution. Consider a business case that challenges ethical behavior and standards. As the new controller of Mega Wheels, Inc., Julie Emerson must adhere to the IMA Statement of Ethical Profession...... half of document ......queries when making decisions if they believe senior management is unethical (Dubrino). As a data controller, Julie can take an active role in communicating ethical standards and leading by example. The data controller and accounting staff play a significant role in business ethics. Specifically, they manage all accounting transactions and are responsible for reporting profits. Julie must demonstrate strong ethical behavior and instill this value in her employees. Additionally, senior management must guide their employees to build a company based on high morals and strong ethics. Without adequate leadership, the company will suffer, as evidenced by the business scandals of a few years ago. As stated by Sam DiPiazza, CEO of Price Waterhouse Coopers, “It has become dramatically clear that the foundation of corporate integrity is personal integrity..” (2003)