A New Paradigm in Cost Management

Society of Cost Management

Statement of Ethical Responsibility

Preamble

Establishing and maintaining strong professional and ethical standards is a primary goal ofthe Society of Cost Management. Our members have a strong desire to provide information that is timely, accurate, and relevant. This requires them to maintain their skills on current cost management practices and to apply those methodologies in the manner most relevant to their industry, company, and situation, in full compliance with any government regulations.

Integrity

Members shall be truthful with respect to their purpose and not act in ways that in conflict with existing law or established practice. They shall continually strive to increase the recognition and respect of the profession.

Accountability

Members shall conduct their work with the highest level of discretion. They shall adhere to the spirit as well as the letter of all applicable laws and all policies of their organization. They shall conduct themselves in the utmost professional manner in accordance with the standards of their organization.

Practice

Members shall take the necessary care to ensure that their work is as accurate as possible. They shall fully document steps taken, disclose the quality of information and the underlying assumptions.

Conflicts of Interest

Members shall avoid competing professional or personal interests and shall disclose such interests to their institutions at the first instance. A conflict of interest can create an appearance of impropriety that can undermine confidence in the member, their organization, and the profession.

Competence

Members shall strive to keep their skills current.