Auditing Theory Practice Exam

The correct answer is that the accredited national professional organization of CPAs is responsible for submitting nominations for members of the Board of Accountancy. This is significant because the Board of Accountancy plays a critical role in regulating the accountancy profession, overseeing the licensing of accountants, and ensuring compliance with standards. The involvement of a recognized professional body ensures that the nominees are qualified and representative of the profession.

The accredited national professional organization typically has a broader perspective on the profession’s needs and can evaluate candidates based on their contributions, expertise, and reputation within the field. This helps ensure that the board is comprised of knowledgeable individuals who can effectively govern and guide the profession.

Other entities, like the Department of Finance or the Board of Accountancy itself, do not have the same representation or mandate to ensure that nominees possess the professional qualifications and insights necessary for effective oversight. Thus, the correct answer emphasizes the importance of professional representation in regulatory bodies, highlighting the role of the accredited organization in maintaining standards within the accountancy profession.