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Cost Audit

Latest Articles


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 942 Views 0 comment Print

Committee Constituted by MCA & FM recommends for major increase of scope of Cost Audit in India

CA, CS, CMA : Discover the latest recommendations by MCA & FM's Committee to expand cost audit rules in India. Explore changes in turnover limit...

July 7, 2024 5910 Views 1 comment Print

Cost Audit and Cost Records applicability 2024-25

CA, CS, CMA : Understand Cost Audit applicability for 2024-25. Learn about non-compliance consequences and how to avoid show cause notices. Insi...

June 24, 2024 12015 Views 2 comments Print

Comply without delay with timeline of Cost Audit 2023-24

CA, CS, CMA : Ensure timely compliance with the 2023-24 Cost Audit timeline. Promptly report any deviations to the Ministry of Corporate Affairs...

May 15, 2024 1803 Views 0 comment Print

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

CA, CS, CMA : Applicability of Cost Records and Cost Audit and Non-Compliance with various provisions with regard to Cost Records/Audit results ...

May 13, 2024 9510 Views 0 comment Print


Latest News


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 942 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 333 Views 0 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 2121 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 396 Views 0 comment Print

Cost Accountants to undertake Inventory Valuation under Section 142(2A) of Income Tax

CA, CS, CMA : Discover how Institute of Cost Accountants of India assists in inventory valuation under Income Tax Section 142(2A). Insights on r...

October 5, 2023 4332 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 1044 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 11031 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 8688 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 3021 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 20226 Views 1 comment Print


Cost Record Maintenance & Audit applicability under Companies Act, 2013

January 15, 2024 16521 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 1080 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 8805 Views 0 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.

COST AUDIT: A Comprehensive Guide to Cost Accounting Compliance

November 16, 2023 2022 Views 0 comment Print

Article explains essentials of cost audits, from scope to consequences for non-compliance. Understand rules, regulations, and conduct to ensure accurate cost reporting.

What is a Cost Sheet and Its Format: A Comprehensive Guide

November 4, 2023 4074 Views 1 comment Print

In this comprehensive guide, we will explore the intricacies of cost sheets, their purpose, the format they follow, and their profound impact on decision-making within organizations.

Cost Accountants to undertake Inventory Valuation under Section 142(2A) of Income Tax

October 5, 2023 4332 Views 0 comment Print

Discover how Institute of Cost Accountants of India assists in inventory valuation under Income Tax Section 142(2A). Insights on regulations, webinars, and guidance.

Demystifying Cost Audits: A Comprehensive FAQ Guide for Businesses & Professionals

September 30, 2023 2058 Views 0 comment Print

Unlock secrets of cost audits with our comprehensive FAQ guide. Learn about selection, remuneration, applicability, and more. Stay compliant and informed.

Cost Records Maintenance- Applicability Criteria & How to maintain records

August 21, 2023 12627 Views 0 comment Print

Explore the essentials of Cost Records Maintenance as per Companies Act. Learn criteria, exemptions, formats, and importance of compliance.

Received Notice for Cost Audit? Check what could be the reasons & what to do

July 15, 2023 6018 Views 2 comments Print

Received a Cost Audit Notice? Understand the reasons and take necessary steps. Applicability of Cost Audit is crucial for companies. Seek expert advice, analyze filings, and respond with proper justifications.

Guidelines for Mandatory Communication to Preceding Cost Auditor

May 26, 2023 1044 Views 0 comment Print

A detailed guide from Institute of Cost Accountants of India about mandatory communication regulations for Cost Accountants. Understand format and implications of non-compliance.

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