Iift 2009 Question 59

Option A : Consider the sentence "As part of the board meeting agenda, the independent directors should have a meeting among themselves without the management being present." The author definitely advocates increased activism by the independent directors.
Option B : Consider the sentence "Hence, an independent body should be constituted to oversee the functioning of auditors for Independence, the quality of audit and professional competence." The author calls for measures to improve the independence of auditors.
Option C : Consider the sentence "Accounting standards do not always keep pace with changes in the business environment. Hence, the accounting standards-setting body should include members drawn from the industry, the profession and regulatory bodies." The author says that the accounting standards should be modified based on the changing business conditions.
Hence all these options are advocated by the author.
The author does not advocate option D. Hence option D is the correct answer.