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Cost Audit

Latest Articles


Cost Records & Audit in Construction Industry: Applicability & Benefits

CA, CS, CMA : Understand cost records and audit rules for the construction industry, including applicability, special features, and benefits for...

February 8, 2025 387 Views 0 comment Print

Cost Saving Ideas in Overheads Cost through Cost Records, Cost Audit and Cost Reporting System

CA, CS, CMA : Explore effective cost-saving strategies for overheads using cost records, audits, and reports. Learn classification, MIS reportin...

January 10, 2025 1224 Views 2 comments Print

Cost Saving in Employee Costs via Cost Records, Audits & Reporting System

CA, CS, CMA : Learn how cost records, audits, and analytical reports help reduce employee costs in various industries and improve efficiency in ...

December 5, 2024 381 Views 0 comment Print

Benefits of Cost Audit for Industry Efficiency and Profit

CA, CS, CMA : Discover how cost audit reports assist industries in optimizing resources, reducing costs, and improving profitability through det...

November 5, 2024 405 Views 0 comment Print

Cost Saving in Materials via Cost Audit & Reporting System

CA, CS, CMA : Discover cost-saving strategies for material costs in manufacturing through efficient cost records, audits, and reporting systems....

October 6, 2024 648 Views 0 comment Print


Latest News


Technical Guide on Cost Management in Healthcare Services

CA, CS, CMA : The Institute of Cost Accountants of India releases an Exposure Draft on Cost Management in Healthcare Services. Public comments a...

February 16, 2025 363 Views 0 comment Print

Govt. report on Cost Accounting Records & Cost Audit 2024

Company Law : Explore ICMAI detailed analysis of the Govt. committee report on enhancing cost audit effectiveness. Read insights & recommendatio...

July 10, 2024 3492 Views 0 comment Print

CAS-2 (Revised 2024) Cost Accounting Standard on Capacity Determination

CA, CS, CMA : Explore revised CAS-2 (2024) standard for capacity determination, issued by Institute of Cost Accountants of India, ensuring consi...

May 18, 2024 684 Views 1 comment Print

Guidance Note on Inventory Valuation under Income Tax Act 1961

Income Tax : Learn how to prepare Inventory Valuation Reports under Section 142(2A) of the Income Tax Act, 1961 with our comprehensive Guidance...

May 10, 2024 3123 Views 0 comment Print

ICMAI Advisory: Unit of Measure & Cost Audit Report Submission

CA, CS, CMA : ICMAI issues advisory for members regarding Annexures in Cost Audit Reports & timely submission. Ensure compliance for statutory r...

May 10, 2024 810 Views 0 comment Print


Latest Notifications


Guidelines for Mandatory Communication to Preceding Cost Auditor

CA, CS, CMA : A detailed guide from Institute of Cost Accountants of India about mandatory communication regulations for Cost Accountants. Under...

May 26, 2023 1185 Views 0 comment Print

Extension of last date of filing of Cost Audit Report to Board of Directors

Company Law : Representations have been received from various stakeholders for extension of last date of filing of Cost Audit Report to the Boar...

September 27, 2021 11070 Views 0 comment Print

Extension of Last Date of Filing Cost Audit Report for FY 2019-20

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 ...

September 10, 2020 8736 Views 0 comment Print

Last date of filing of CRA-4 (cost audit report) extended to 29.02.2020

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...

December 30, 2019 3081 Views 0 comment Print

Companies (cost records and audit) Amendment Rules, 2019

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...

October 15, 2019 20736 Views 1 comment Print


CAS-2 (Revised 2024) Cost Accounting Standard on Capacity Determination

May 18, 2024 684 Views 1 comment Print

Explore revised CAS-2 (2024) standard for capacity determination, issued by Institute of Cost Accountants of India, ensuring consistency in capacity measurement.

Comply without delay with timeline of Cost Audit 2023-24

May 15, 2024 5088 Views 0 comment Print

Ensure timely compliance with the 2023-24 Cost Audit timeline. Promptly report any deviations to the Ministry of Corporate Affairs (MCA) as per regulatory requirements.

Applicability & Non-Compliance in Cost Records/Audit: MCA Notices & ICMAI Advisory

May 13, 2024 10464 Views 0 comment Print

Applicability of Cost Records and Cost Audit and Non-Compliance with various provisions with regard to Cost Records/Audit results in issue of Notices by MCA and advisory by ICMAI

Guidance Note on Inventory Valuation under Income Tax Act 1961

May 10, 2024 3123 Views 0 comment Print

Learn how to prepare Inventory Valuation Reports under Section 142(2A) of the Income Tax Act, 1961 with our comprehensive Guidance Note. Get insights on legal provisions, standards, and FAQs.

ICMAI Advisory: Unit of Measure & Cost Audit Report Submission

May 10, 2024 810 Views 0 comment Print

ICMAI issues advisory for members regarding Annexures in Cost Audit Reports & timely submission. Ensure compliance for statutory requirements.

Role of CMA & Cost Auditing in PM Narendra Modi’s Vision for India 2047

March 18, 2024 2205 Views 2 comments Print

Explore the role of Cost Management Accountants (CMAs) and the importance of cost audit and costing systems in achieving PM Narendra Modi’s vision for India in 2047.

Cost Auditor Appointment & Compliance Under Companies Act 2013

January 22, 2024 9189 Views 0 comment Print

Navigate the complexities of Cost Auditor appointments, remuneration, removal, and resignation under the Companies Act, 2013. Learn about the criteria, timelines, and procedures for compliance.

Cost Record Maintenance & Audit applicability under Companies Act, 2013

January 15, 2024 23070 Views 0 comment Print

The article provides an in-depth understanding of provisions related to maintenance of cost records and applicability of cost audit under Companies Act, 2013.

First-Time Cost Audit? Here’s Your Comprehensive Guide

December 16, 2023 1389 Views 0 comment Print

Navigating your first cost audit? Learn the procedure, cost records preparation, utility cost sheet format, and filing the cost audit report. A step-by-step guide for a smooth process.

Cost Auditor Appointment: Regulations, Procedure & Consequences

November 24, 2023 19617 Views 1 comment Print

Explore the when, why, and how of appointing a cost auditor under the Companies Act. Learn about eligibility, procedure, and consequences of non-compliance.

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