https://www.taxtmi.com/acts?id=17445 The Central Government may direct specified classes of companies to maintain particulars of material, labour and other prescribed cost items and, where necessary, order a statutory audit of those cost records for companies meeting prescribed thresholds. Such cost audit must be conducted by a Board appointed cost accountant, separate from the statutory auditor, adhering to cost auditing standards. The cost auditor reports to the Board; the company must furnish that report and explanations to the Central Government within thirty days, supply further information on request, and face penalties for defaults. en-us Sat, 02 Mar 2013 12:33:17 +0530 Wed, 24 Dec 2025 14:48:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17445 The Central Government may direct specified classes of companies to maintain particulars of material, labour and other prescribed cost items and, where necessary, order a statutory audit of those cost records for companies meeting prescribed thresholds. Such cost audit must be conducted by a Board appointed cost accountant, separate from the statutory auditor, adhering to cost auditing standards. The cost auditor reports to the Board; the company must furnish that report and explanations to the Central Government within thirty days, supply further information on request, and face penalties for defaults. Act-Rules Companies Law Sat, 02 Mar 2013 12:33:17 +0530 https://www.taxtmi.com/acts?id=17445