CWA- Suggested Minimum Professional Fees as Approved by the Council

THE INSTITUTE OF COST AND WORKS ACCOUNTANTS OF INDIA 12 SUDDER STREET, KOLKATA – 700 016

SUGGESTED MINIMUM PROFESSIONAL FEES AS APPROVED BY THE COUNCIL AT ITS

268TH MEETING HELD ON MAY 28, 2011

1. Fees for Cost Audit related assignments:

Turnover in

Rs. Crores

Fees for

Cost Audit

Fees for Cost Records/

Compliance

Below 5 20,000
5 – 10 40,000
10 – 20 50,000
20 – 50 75,000 25,000
50 – 75 1,00,000 35,000
75 – 100 1,25,000 50,000
100 – 150 1,75,000 75,000
150 – 250 2,50,000 1,00,000
250 – 500 4,00,000 1,50,000
500 – 750 5,00,000 2,00,000
750 – 1000 6,00,000 2,50,000
1000 – 2500 7,50,000 3,50,000
2500 – 5000 8,50,000 4,50,000
5000 – 20000 10,00,000 5,00,000
20000 and above Negotiable Negotiable

 

1. Costing Assignments :

1.1 Monthly Retainership :Rs.10,000 – 15,000 for the first visit and Rs.2,500 – 5,000 for each subsequent visit of around two hours during the month.

1.2 Casual Visit :Rs.5,000 – 10,000 per day (Partner having less than 10 years of practice)

: Rs. 10,000 – 25,000 per day (Partner having more than 10 years of practice)

1.3 Chamber Consultation Rs.2,500 per hour at the minimum.
1.4 Certificate Work (a) Minimum Rs.2500 per certificate – for Small Scale Units.

(b) Minimum Rs.5000 for others.

(c)For certification involving in-depth scrutiny and study Rs.2000 per hour of work involved.

2. Designing Systems of Cost and Management Accounting (Minimum Fees)

(a)  Upto Turnover of Rs. 2 Crores 50,000
(b)  Rs.2 Crores to Rs.10 Crores 1,00,000
(c)   Rs. 10 Crores to Rs. 100 Crores 2,50,000
(d)  Above Rs. 100 Crores 5,00,000

Finance Applications and Feasibility Reports : Scrutiny of technical and market feasibility reports, preparing financial feasibility reports and drawing projection of profitability, financial position, capital plan and cash flow – Based on Project Cost.

4. Charges for providing Services of Juniors

Cost Accountant (Qualified Assistant)                                Rs. 1,000 per hour

Cost Assistant (Intermediate)                                                     Rs. 750 per hour

Cost Assistant – Trainee                                                              Rs. 500 per hour

For all assignments, Service Tax and other applicable Taxes, Travelling and out-of-pocket expenses will be charged extra.

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