Penalties for non compliance under cost accounting rules impose fines on cost accountants and liability on companies and officers. Rule 8 provides that a default by the cost accountant attracts a monetary fine; for contraventions the company is subject to statutory penal consequences ... Summary
Penalties for non compliance under cost accounting rules impose fines on cost accountants and liability on companies and officers.
Rule 8 provides that a default by the cost accountant attracts a monetary fine; for contraventions the company is subject to statutory penal consequences and every officer in default, including persons identified under corporate responsibility provisions, is separately punishable under the corporate liability framework.
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