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After a careful examination of the statement made by the cost auditors, the Department is of the view that it would be more appropriate if while mentioning the figures for previous year, the Cost Auditor certifies the position by means of note that figures so stated are on the basis of information furnished by the management, for which he has obtained a certificate from them.
Under the provision of S. 233B of the Act and the Cost Audit Report Rules made thereunder, the Cost Auditor after the submission of the Cost Audit Report has to furnish replies to all the supplementaries, queries from the Department of Company affairs arising through a review of the Cost Audit Report. A question has arisen as to when the term of a Cost Auditor in respect of company shall be deemed to have concluded. It is clarified that for the purpose of furnishing the certificate under sub-section
Authentication of Cost Audit Report in cases where a firm of Cost Auditors is approved under U/s 233B (2) of the Companies Act, 1956 for conducting Cost Audit.
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,
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
Similarly, a question has now been raised whether a Cost Auditor of a Company can also be its internal auditor which has been carefully examined in this Department. Since the Cost Auditor is required to comment on the scope and performance of internal audit as per the provisions of the Cost Audit (Report) Rules, 1968, it would tend to mitigate against proper and dispassionate discharge
In exercise of the powers conferred by rule I91-T3 of tho Ceram! Excises Rolm 1944, the Central Government hereby makes the following further amend‑ment in the notification of the Government of India is the Ministry of Finance.
Understand the Companies (Acceptance of Deposits) Rules, 1975, governing deposits. Learn about regulations, compliance, and key provisions for companies
The declaration required to be made by a person referred to in sub-section (1) of section 187-C shall-within thirty days from the commencement of these rules, or within thirty days after his name is entered in the register of members of a company as the holder of a share in that company, whichever is later, be made to the company in Form I in duplicate.
Explore the Companies (Issue of Share Certificates) Rules 1960, governing the issuance, replacement, and records of share certificates under the Companies Act, 1956
