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of <h1>New Cost Audit Rules for Companies Enacted, Enhancing Financial Accountability under Companies Act, 1956</h1> The Companies (Cost Audit Report) Rules, 2011, were established by the Central Government under the Companies Act, 1956, replacing the Cost Audit Report Rules, 2001. These rules are enacted using the authority granted by specific sections of the Companies Act. They are officially titled 'The Companies (Cost Audit Report) Rules, 2011' and become effective upon their publication in the Official Gazette. The rules outline the framework for cost audit reports required for companies, reflecting the statutory provisions for corporate financial accountability and transparency.
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