General Circular No. 3/1983
No. 1/1/83/-C.L.V
52/318/80-CAB
Government of India
Ministry of Law, Justice and Company Affairs
Department of Company Affairs,
Shastri Bhawan, V Floor, A-Wing
Dr. Rajender Prasad Road, New Delhi-110 001
Dated the 18th March, 1983
Subject: Disclosure of full details in Cost Audit Report.
Sir,
The attention of the Institute is drawn to the provisions of section 233B of the Companies Act, 1956, and the Cost Audit (Report) Rules, 1968, as amended from time to time. The duties of the cost accountants appointed to conduct an audit of cost accounts of the company flow directly from the above provisions and as such they should in strict compliance therewith ensure that full and complete details in respect of the cost accounts of the company are furnished in their reports. Any request that certain details may not be disclosed in the report (on any ground whatsoever) should be discouraged as such non-disclosure will be inconsistent with the object and purpose of the Cost Audit Report Rules and the requirements thereunder. The cost auditors should, if necessary, bring such instances to the notice of the government by a specific note in their reports.
