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.....