Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Management and cost audit

Nitish Sharma (CA Final) (426 Points)

11 March 2009

Can anyone provide me with differences between management audit and cost audit?

Please help me its urgent

Reply
Follow
Share

1 Replies

rakshit jain (Audit assistant) (26 Points)
Replied 11 March 2009

Managment Audit : auditors are appointed by the bod or managerial perssonals,under this auditor have to check and verify whether comanies policies and customs are under the purveiw and truthful and faithful to the co.

Cost Audit : Sec.209 (2)(d) of co.act every manufacturing co. has to maintained cost records at their unit level and it has to be verified and certified by CWA or CA (in case CWA is not available than CA also can certified but statutory can't do the same)