Issue of notices and Review of Cost Audit Reports by MCA: A warning signal for Auditors and Directors

CMA Navneet Kr Jain | Last updated: 14 October 2022

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The Ministry of Corporate Affairs (MCA) is intensifying its scrutiny of Cost Audit Reports, issuing notices to companies and their cost auditors. This move aims to ensure the reliability and accuracy of submitted data, which is used by various government bodies for policy-making and other decisions. Auditors and directors must ensure all declarations regarding cost records are substantiated, as the MCA is now actively reviewing past reports and may request further information.

The government has started relying on the professional and has given certain certification powers to the professionals who are being regulated by the professional Institutes. The duly certified data submitted by the professionals is relied upon by various organisations for various decision making ac

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About the Author

CMA Navneet Kr Jain

cost consulting

Cost And Management Consultant, Conducted National and International Assignments Ex-Consultant World Health Oganisation Visiting Faculty with CAG, NIRC-ICWA, Deptt of Excise and Service Tax, AGCR Firstever Costing in India at WHO level in respect of Standard Treatment Guidelines E

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