In my opinion, the answer is no. A practicing cost accountant can be appointed as cost auditor of a company. The cost accountant in employment will not be allowed to take up cost audit. Any other views are welcome.

CMA Ajay Jaisingh

Ajay Jaisingh & Associates Cost Account

54 Points Posted on 10 October 2012

Cost Accountant in Employment can only sign the COMPLIANCE REPORT of the company that also when he is a member (ACMA/FCMA) of the Institute.

Cost Audit can only be conducted by a CMA in Practice.

Extracts from General Circular No. 15/2011 dtd.11-04-2011:

The company required to get its cost records audited under section 233B (1) of the Companies Act, 1956 shall appoint a cost auditor who is a cost accountant as defined in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959 (23 of 1959) and who holds a valid certificate of practice under sub-section (1) of section 6 of that Act and includes a firm of cost accountants.

Regards,
CMA Ajay Jaisingh
M.Com, ACMA

Ajay Jaisingh & Associates II Cost Accountants in Practice II

Office: 1204, "MATRIX", B/H Divya Bhaskar House, Nr. Vodafone House, Prahladnagar Corporate Road, Off S G Highway, Ahmedabad-380051.

Mobile: +91-9825895971 II Email: jaisingh.ajay @ gmail.com II

Your are not logged in . Please login to post replies

Click here to Login / Register

Recent Topics :

More recent discussions | Post

Menu

Cost Audit

Anil.1

CA Rakesh Goenka

Pramod Limaye

CMA Ajay Jaisingh

Leave a Reply

Recent Topics :

Related Topics :

Latest Job Openings

Consultant - Reporting

Semi-Qualified Assitant

Audit Executive

CA Article Assistant

Industrial Trainee

SENIOR AUDITOR & ACCOUNTS MANAGER

Senior Accountant

Freelance Taxation Content Writer Intern

Menu

Forum Search

Cost Audit

Leave a Reply

Recent Topics :

Related Topics :