<u>Under ACIPA rules, jones can not become the director of the company, as he is a member of the audit for that company. </u>
Further Explanation:
AICPA:
The full form of AICPA is the American institute of certified public accountants. This is a body that provides the law and certificate to the chartered accountant. This association provides help to the company for maintaining the rules, regulation and procedures according to the company law.
According to the AICPA rules, any professional firm is providing the services to the company, then the professional firm can not become the director of the company. The professional firm can not join the board of directors. If the professional firm wants to join the company as the board of directors, then the firm has to leave the professional work.
The professional firm includes the all types of services. The professional firm includes taxation, chartered accountant, company secretary, consulting services and any other service which may help to run the company in a smooth manner.
Therefore, if the jones wants to join the company as the board of directors. Then the jones has to resign from his current position of manager.
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Answer details:
Grade: Middle School
Subject: Business
Chapter: AICPA rules
Keywords:
Under ACIPA rules, jones can not become, the director, as he is a member, of the , audit company,American institute of certified public accountants rules, regulation and procedures.
