Cost audit requirement: specified manufacturing and mining companies must obtain annual cost audits and file prescribed reports under new rules. Companies to which the Companies (Cost Accounting Records) Rules, 2011 apply and engaged in specified industries must have annual cost accounting records audited by a practising cost accountant or firm for financial years commencing on or after 1 April 2011 when turnover or listed-securities criteria are met; audits must follow the revised appointment procedure, produce reports under the Companies (Cost Audit Report) Rules, 2011, be filed in the prescribed format and timeframe, with exemptions for bodies corporate under special Acts and penalties for default.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cost audit requirement: specified manufacturing and mining companies must obtain annual cost audits and file prescribed reports under new rules.
Companies to which the Companies (Cost Accounting Records) Rules, 2011 apply and engaged in specified industries must have annual cost accounting records audited by a practising cost accountant or firm for financial years commencing on or after 1 April 2011 when turnover or listed-securities criteria are met; audits must follow the revised appointment procedure, produce reports under the Companies (Cost Audit Report) Rules, 2011, be filed in the prescribed format and timeframe, with exemptions for bodies corporate under special Acts and penalties for default.
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