Mandatory cost audit

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CA Sarthak Goyal

CA Sarthak Goyal (Querist)
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24 December 2011 Is cost audit mandatory applicable to an industry in manufacturing of textile yarn and thread.

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24 December 2011 Please read the contents of the following link :

https://www.caclubindia.com/articles/mandatory-cost-audit-cost-compliance-for-the-fy-2011-12-10258.asp

Regulations regarding maintenance of cost accounting records and cost audit are likely to change. If the recommendations of the expert committee appointed by the Ministry of Corporate Affairs are accepted, all manufacturing companies with a paid-up capital of Rs 50 crores (500 million) or more will be required to get their cost accounting records audited by a statutory cost auditor.

Read more: Manufacturing companies with a paid-up capital of Rs 50 crores or more may be required to get their cost accounting records audited by a statutory cost auditor.

FCA Prashant Chavan