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Cost Audit : Previous Year Data for first time

Others 352 views 2 replies

Hi

If the company is in operation from last 4 years but has fallen under eligibility of cost audit in current year, should the previous year data be provided or it should be left as NILas this is its first cost audit.

Replies (2)
Previous year data should be provided

Cost audit is the verification of cost accounts to determine the accuracy of cost accounting records. It is a means to ensure that cost accounting records are in track with the costing principles, plans, procedures and objective. The audit usually involves. Verification that costing records are accurate.


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