Question

The Union Cabinet recently approved the proposal for establishment of
National Financial Reporting Authority (NFRA). In this context consider
the following statements.
1. NFRA will act as an independent regulator for the auditing profession in
India.
2. The jurisdiction of NFRA for investigation of Chartered Accountants
would extend to listed companies only.
Page
2
3. NFRA will replace the Institute of Chartered Accountants of India (ICAI).
Which of the statements given above is/are correct?
A. 1 only
B. 2 and 3 only
C. 1, 2 and 3
D. None of the above statements are correct

Answer 1

heya...

your answer is:

B) 2 and 3 only.

It may help you....☺☺