You are the manager of an accounting department and would like to hire another managerial accountant to focus on internal accounting. The CEO is not convinced that a managing accountant position is needed. Prepare a 1–2 page memo for the CEO on the following:

* Explain the objectives and characteristics of an internal accounting system.
* Include an explanation of the importance of this information to the company.
* Include an explanation of ethics in business and the managerial accountant’s role in upholding the code of ethics.