Appointment of Cost Auditor in Firm’s Name

No. 54/409/80-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

November 19, 1983

To

The President,

The Institute of Cost and Works Accountants of India 12, Sudder Street, Calcutta-700 016

Subject: Appointment of Cost Auditor in Firm’s Name

Sir,

I am directed to state that the question of appointment of Cost Auditors in firm’s name for conducting cost audit has been under examination in the department and it has been decided to approve appointment of Cost Auditors in firm’s name under sub­section (2) of Section 233B of the Companies Act, 1956, if such a proposal is received from the Board of Directors of any company subject to the following conditions:-

(i)  All the partners of the firm are practicing cost accountants within the meaning of Section 6 and 7 of the Cost and Works Accountants Act, 1959, and

(ii) the firm itself has been constituted with the previous approval of the Central Government as required under Regulation 113 of the Cost and Works Accountants Act, 1959.

2. It is requested that the above decision may be brought to the notice of practicing cost accountants through the journal of the Institute of Cost and Works Accountants of India.

Yours faithfully,

(V. Gopalakrishnan)

Senior Cost Accounts Officer