Cost audit report

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2013 Dear Experts,
We are the Manufacturing Company of Pharma with turnover around 200 Crs. & Capital around 25 Crs., We have appointed an cost auditor for F.Y. 2011-12 & 12-13, The cost has prepared the Cost Audit Report for F.Y. 2011-12 for which due date of filing has extended to 31.01.2013, Pl clarify

1. Whether the report can be adopt by the Bord Meeting after the expiry six month of F.Y. (i.e. later date from Sept.12)

2. Max time limit to adopt by Board for F.Y. 11-12

3. Report can be adopt by circular resolution???

4.whether we need to file "Cost Compliance Certificate" also apart from "Cost Audit Report"

CMA Narendra Mundra

CMA Narendra Mundra (Expert)
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05 January 2013 Answer is as follows:

1. Yes (Please see following link for further clarification)

https://icwai.org/icwainew/XBRL/docs/Circulars/Section-4/Sec-4-Circular-18-2012-of-30July.pdf

2. 31.Jan.2013

3. Yes

4. If Cost Audit is applicable on all products of company then need not to file compliance certificate seperately

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