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Cost Auditing
Cost Auditing
With an ever-increasing need for determining the accurate cost particulars of a product to arrive at the correct profitability, meeting the compliance requirements prescribed under the Companies Act has become equally important. At Cost Audit India, with a dedicated and qualified team to handle the Cost Audit and related Compliances, we offer our professional assistance with regard to the following
- Cost Audit to ascertain the accuracy of the cost accounting records to ensure that the same are in conformity with Cost Accounting Principles, plans, procedures and objective;
- Maintenance of Cost Records in terms of Companies (Cost Records and Audit) Rules, 2014;
- Internal Audit, Operational Audit and Management Audit as per the specific needs of the management;
- Cost Study and Analysis in order to determine the specific elements of cost associated with a brand, product, pack, customer, channel or region and analyzing the same to arrive at the desired results;
- Stock valuation as per the prescribed methods and regulations under the CAS-4;
- Transfer pricing CAS-4 Certificate for captive consumption;
- XBRL filing of Cost Audit Report;
- Determining the costing of product, channel or brand to meet the specific management decision making requirement of the Company;
- Budgeting and MIS;
- Management Consultancy Services.
Applicability of Cost Audit:
(1) Every Regulated Sector company shall get its cost records audited if the overall annual turnover of the company from all its products and services during the immediately preceding financial year is rupees fifty crore (50 cr.)or more and the aggregate turnover of the individual product or products or service or services for which cost records are required to be maintained is rupees twenty five crore (25 cr.) or more.
(2) Every Non-Regulated company specified shall get its cost records audited if the overall annual turnover of the company from all its products and services during the immediately preceding financial year is rupees one hundred crore (100 cr.)or more and the aggregate turnover of the individual product or products or service or services for which cost records are required to be maintained is rupees thirty five crore (35 cr.)or more.
(3) The requirement for cost audit under these rules shall not apply to a company of Regulated and Non-Regulated Sector, and –
(i) Whose revenue from exports, in foreign exchange, exceeds seventy five per cent of its total revenue; or
(ii) Which is operating from a special economic zone.”
how we help
Align Costs with Strategy & Focus on Growth
How It Works & How We Do It
We are working in the format of an outsourcing project office. We assume operational coordination and control over the compliance with all project implementation parameters that ensures the execution of works on time.
Integrating of innovation and public benefit into your workflows; ensuring strategic and sustainable development of your organization from project.
marketing analysis
finance strategy
business innovation
CORPORATE MANAGEMENT
“You cannot escape the responsibility of tomorrow by evading it today.” Abraham Lincoln
