CRA-2
My company exceeded turnover for FY 2020-21? when is the board supposed to appoint the cost auditor and for what financial year whether 2020-21 or 2021-22? For what FY the report is to be submitted? And within how many days?
Replies (1)
For a company exceeding the turnover threshold in FY 2020-21, a Cost Auditor must be appointed for FY 2021-22. The appointment must be approved by the Board within 180 days of the start of the financial year (by September 27, 2021), and Form CRA-2 must be filed within 30 days of appointment or 180 days of the FY start, whichever is earlier. The final audit report for FY 2021-22 must be submitted by the auditor to the Board by September 30, 2022.
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