Page 13 - IC46 addendum

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b. Monitor and enforce the compliance with
accounting standards and auditing standards.

c. Oversee quality of services of professions
associated with ensuring compliance with
such standard.

d. Suggest measures required for improvement
in quality of service.

e. All above.

12. National Financial Reporting Authority
under section 132 (4) have the powers
to:

a. Investigate suo moto or on a reference made
by central government for such class of
bodies corporate or persons.

b. Investigate misconduct committed by any
chartered accountant.

c. Have the same powers as listed in civil court
under the Code Of Civil Procedure 1908.

d. Impose penalty or debar members from
practicing.

e. All above

13. National Financial Reporting Authority
can impose penalty of:

a. Not less than 1 lakh rupees, which may extend

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