Consider the following statements about the National Financial Reporting Authority (NFRA):
1. NFRA plans to inspect 30 firms annually, up from 8 this year.
2. NFRA was established in 2008 to regulate and oversee the auditing profession.
3. NFRA will more than double its ranks in the coming years.
Which of the above statements is/are correct?
1
1 only
2
1 and 2 only
3
1, 2, and 3 only
4
1 and 3 only
5
2 only