What happens to ICAI members who do not comply with its technical standards?
AA mandatory tax audit
BDisciplinary action taken
CNothing, it is advisory
DLoss of company status
Answer & Solution
Correct answer: B. Disciplinary action taken
Non-compliance with ICAI technical standards by members leads to disciplinary action.
Keep practising Accounting Standards Setting in India
Browse all Accounting Standards Setting in India questions for CA Inter, or explore more Accounting topics.
Related questions
Which body advises the European Commission in endorsing IFRS for EU use?Which committee monitors compliance with the IASB's due process?When does a Post-implementation Review of a new IASB Standard typically begin?A final IASB Standard must be accompanied by which document?After an Exposure Draft comment period, what must the IASB do?Since 2001, new standards issued by the IASB are labelled what?Which major jurisdiction applies US GAAP rather than IFRS Standards?From 1 January 2005, the EU required IFRS for which accounts?