CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more. know more
Avneesh Mishra (CS Trainee) 25 July 2014
14. Remuneration of the Cost Auditor.- For the purpose of sub-section (3) of section 148,—
(i) the Board shall appoint an individual, who is a cost accountant in practice, or a firm of cost accountants in practice, ascost auditor on the recommendations of the Audit committee, which shall also recommend remuneration for such cost auditor;
(ii) the remuneration recommended by the Audit Committee under (i) shall be considered and approved by the Board of Directors and ratified subsequently by the shareholders;
Vandana J Doshi (Practising Company Secretary) 25 July 2014
Hi Avneesh....you have yourself answered your query....only remuneration of the Cost Auditor is to be ratified by the shareholders in the GMs.....