Cost audit under sec 233b: chartered accountant?

Hello,

Can a Chartered Accountant undertake Cost Audit of a Company as per Sec 233B of the Companies Act? As per the reading it says:

"The Cost Auditor shall be a cost accountant withtin the meaning of the Cost and Works Accountsnts Act, 1959. However a Chartered Accountant possessing the prescribed qualifications may be appointed as the cost auditor if the Central Government is of the opinion that sufficient number of cost accountants are not available for conducting the cost audit and a notification is issued to this effect. At present, no such notification has been issued."

What is the current situation?

Replies (5)

ya can but need to submit the proof of non availability of cost accountanta

Originally posted by : Rahul Jain

ya can but need to submit the proof of non availability of cost accountanta


But is there such a notification issued by Central Government?

No a chartered accountant cant do it

Pls refer sec 148 of companies act 2013 . No where there is word to prove and all in companies act.
No... Only Practicing Cost Accountants can do Cost Audit. Chartered Accountants are not eligible to do cost audit. Pls refer sec 148 of companies act, 2013

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