compulsory cost audit criteria

This query is : Resolved

Shyamjith (Querist)
Follow

18 March 2008 what are the criteria for a steel manufacturing company to come under cost audit. what are the matters to be taken care of if a co. comes under such requirments.

kartik_somu

kartik_somu (Expert)
Follow

19 March 2008 (1) Where in the opinion of the Central Government it is necessary so to do in relation to any company required under clause (d) of sub-section(8) of section(2) to include in its books of account the particulars referred to therein, the Central Government may, by order, direct that an audit of cost accounts of the company shall be conducted in such manner as may be specified in the order by an auditor who shall be a cost accountant within the meaning of the Cost and Works Accountants Act, 1959 (23 of 1959).