Which of the following statements is/are correct with reference to the IPAR and ICAI?

Which of the following statements is/are correct with reference to the IPAR and ICAI?

A. The Institute of Professional Accountants of Russia (IPAR) is the largest not-for-profit accounting organisation of Russia.

B. The Institute of Chartered Accountants of India (ICAI) is a statutory body which was established under the Chartered Accountants Act, 1949 to regulate the profession of Chartered Accountants in the country.

C. Both A & B

D. None of these

Explanation:

The Union Cabinet recently approved the signing Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR). The Institute of Professional Accountants of Russia (IPAR) is the largest not-for-profit accounting organisation of Russia. The Institute of Chartered Accountants of India (ICAI) is a statutory body which was established under the Chartered Accountants Act, 1949 to regulate the profession of Chartered Accountants in the country.