Question

Discuss what types of information must be reported to the board of accountancy. Why do you think this is an important requirement?

Answer 1

All the information which required disciplinarian action against the professional accountant must be reported to the board of accountancy. The major information which are reported includes sub-standard price, non-adherence to code of ethics and complains necessary for disciplinary sanctions.

These helps the board in levying penalties as well as revocation of the license to practice for the practioner of public accountants. Revocation or Suspension will lead to prohibit the members from practicing. To maintain the professionals accountable its very much necessary to share information to the board so that the board can take necessary actions against the professional accountants.