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Sir

•· Who can b uditor

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• Cost Accountant in practice can be co~ ~ the cost auditing standa
i$sued by Institute of Cost and Work$ A'.~~
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• Statutory Auditor (CA) can never be ~b$f iuilitbr

•:• Cost auditor is appointed within 180 days &om the coounenoetil\ .le financial year by the Boanl of
Direc'9~. ·

•:• Be poiotment cost auditor has to give a w;erti.ficate. ify:

• ,ti 'ble and not disqualified · ,
• S<;~t l is satisfied ·
• ithin J.imjts
• against the cost auditor (court cases)

•!• Informa ~on 1

•
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Atral Government regarding appo~)b11
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• Compaa /i ;f.PD•~~, J.W.O.rm Centra1,Qovemmeo, w~
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•s ecis1on o appomtment or
180 days fn>Pt the com,mencemeot of the e
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Whichever js EARLIER ·
This shall be ilifo~ed t ·
 + 11le cost auditor shall submit ·
•
•
He can coo ue as the c
I &om the clo
- ..........~
ve,:is frat
+ __val of cost audit
• Because cost auditor ' .!.t, Dl)'. after givm
·· ~

to 1be cost auditor and f'd.lin Qt of another Co

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• Cost auditor by bis cJ1oiC'e- c

♦ Casual Vacancy
la case of casual vacan£){, the board shall fill the va
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Compaorh~re m~3)
♦ .Remuoemhon of Cost Audit~ -

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BoardshaU
sfja'lJ at '
9 I
~~atton ofAC and~
,. ind remunerahon
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Bonrd sltn
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mnunmtion ~hall b,e ,eeroved by the Board
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Tl,is nun ' IJT" .

later rati~ed (confim,,1~d~ by sbarebolde.rs

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. . . . . .l,M,;G is · uabticafton,_ Ri&hts~ Duties and ' , ,., . ~~~~ ill he as far as' J?2S$l
uditor~ , , 1- • . , ,.,,
~m;.
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Ul1U11.l,.!j,m1li AUDlT
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❖ st Audit Re ort: / I'

• 9>st ~udit reP?.9 should be submitted to the BOD ,vithin @da~~ of. 4}~sme of year in Fonn- CRN
~ - 7 ,,11,111)ll
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• After compyiy retetves cost audit rep_grt, it shall give th,e cost audit repqd to CG in Form ~-04
wifliin30 days of RECEIPT of the cost audit report along -with fees. 1
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• H C.§ needs any further ~lanattons or information it can call for it ~m the co~y.
• Cost Auditor also has the power to report fraud to CG as per section 143(12)
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•!• Penalty p~ion:
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every o~er
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Section- 147(1) Section--147~i) ~o 141(4)" 1

Auon· wrru CA KARTIK 1