Annual cost audit mandated for companies under cost accounting rules, converting alternate-year audits into compulsory yearly audits. Revised orders convert alternate-year cost audits into compulsory annual cost audits beginning with the financial year ending 31 March 1994 and thereafter for companies previously subject to alternate-year audits. A list of affected companies will be sent to the Institute Secretary and members are to be informed via the Institute journal. The compulsory annual audit applies to industries for which Cost Accounting Records Rules have been prescribed under the statutory company accounts framework, imposing annual audit frequency and reporting obligations.
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.
Annual cost audit mandated for companies under cost accounting rules, converting alternate-year audits into compulsory yearly audits.
Revised orders convert alternate-year cost audits into compulsory annual cost audits beginning with the financial year ending 31 March 1994 and thereafter for companies previously subject to alternate-year audits. A list of affected companies will be sent to the Institute Secretary and members are to be informed via the Institute journal. The compulsory annual audit applies to industries for which Cost Accounting Records Rules have been prescribed under the statutory company accounts framework, imposing annual audit frequency and reporting obligations.
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