Audit and inventory valuation expenses must follow prescribed hourly limits, with time-sheet based billing and report-based scrutiny. Procedure for determining expenses connected with audit or inventory valuation requires a maintained panel of accountants and cost accountants, prescribed hourly billing limits for the work, and a time-sheet to be submitted with the bill. The period for billing must be specified in hours required to complete the report, and the claimed hours must be commensurate with the size and quality of the report submitted.
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Provisions expressly mentioned in the judgment/order text.
Audit and inventory valuation expenses must follow prescribed hourly limits, with time-sheet based billing and report-based scrutiny.
Procedure for determining expenses connected with audit or inventory valuation requires a maintained panel of accountants and cost accountants, prescribed hourly billing limits for the work, and a time-sheet to be submitted with the bill. The period for billing must be specified in hours required to complete the report, and the claimed hours must be commensurate with the size and quality of the report submitted.
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