Penalty regime for cost audit non compliance: auditors, companies and defaulting officers face statutory sanctions under the Rules. Rule 8 sets out the penalty regime under the Companies (Cost Audit Report) Rules, 2011: cost auditors who default on their duties face a monetary fine, ... Summary
Penalty regime for cost audit non compliance: auditors, companies and defaulting officers face statutory sanctions under the Rules.
Rule 8 sets out the penalty regime under the Companies (Cost Audit Report) Rules, 2011: cost auditors who default on their duties face a monetary fine, and companies and every officer in default are liable to penal consequences under the statutory enforcement framework referenced from the Companies Act.
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