Company Law : Ministry of Corporate Affairs vide General Circular No. 36/2012 dated 6th November 2012, clarified some of the issues relating to ...
Corporate Law : Since 2nd May 2011 to 6th November 2012, Costing Profession of CMA passes through Sea Level changes; desired destination of the Ce...
CA, CS, CMA : Ministry of Corporate Affairs has done a remarkable job for the industry by issuing notifications with regard to Common Cost Accou...
Company Law : The period of August and September is normally very busy for the accounting as the finalisation of accounts is done by maximum com...
Income Tax : As per notification issued by Ministry of Corporate Affairs, dated 3rd June, 2011; The Companies (Cost Accounting Records), Rules ...
Company Law : Pursuant to implementation of IndAS, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to bring parity between ...
Company Law : 1. Material Costs-(a) Proper records shall be maintained showing separately all receipts, issues and balances both in quantities a...
CA, CS, CMA : Ministry of Corporate Affairs, Cost Audit Branch, invites comments/ suggestions on regulating Cost Audit Fee and fixing limit on t...
CA, CS, CMA : It has been decided by the Ministry of Corporate Affairs to mandate the cost auditors and the companies to file Cost Audit Reports...
Company Law : It has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the ...
Company Law : General Circular No. 17/2019- Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2...
Company Law : The companies who have already filed their Cost Audit Report in form CRA-4 for the financial year 2018-19 with the Central Governm...
Company Law : It has been decided to relax the additional fees payable by companies on CRA-4 (Cost Audit Report in XBRL format) upto 31.12.2018...
Company Law : MCA notifies Companies (cost records and audit) Amendment Rules, 2018 to further amend Companies (cost records and audit) Rules, 2...
It has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the companies is submitted by 30th November, 2020
General Circular No. 17/2019- Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2018-19, without payment of additional fee, has been further extended till 29.02.2020. General Circular No. 17/2019 F.No. 52/50/CAB/2019 GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor, ‘A’ Wing Shastri Bhawan, Dr. R.P. Road, […]
The companies who have already filed their Cost Audit Report in form CRA-4 for the financial year 2018-19 with the Central Government before the publication of this notification are not required to file their Cost Audit Report for the said financial year.
It has been decided to relax the additional fees payable by companies on CRA-4 (Cost Audit Report in XBRL format) upto 31.12.2018, wherever additional fee is applicable.
MCA notifies Companies (cost records and audit) Amendment Rules, 2018 to further amend Companies (cost records and audit) Rules, 2014.
As per provisions of the Cost Audit Report Rules that are in force from time-to-time, a cost auditor is required to comment on the scope and performance of internal audit of cost records. Hence it would tend to mitigate against the proper and dispassionate discharge of his duties if he was also the internal auditor of the company for the same period for which he is conducting the cost audit.
Pursuant to implementation of IndAS, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to bring parity between financial records and cost records. Accordingly, the Draft Companies (Cost Records and Audit) Amendment Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments.
1. Material Costs-(a) Proper records shall be maintained showing separately all receipts, issues and balances both in quantities and cost of each item of raw material required for the production of goods or rendering of services under reference.
Cost audit report means the duly signed cost auditor’s report on the cost records examined and cost statements which are prepared as per these rules, including attachment, annexure, qualifications or observations attached with or included in such report
G.S.R. 486(E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (cost records and audit) Rules, 2014
