https://www.taxtmi.com/circulars?id=10495 Companies required to audit cost records must appoint a qualified cost accountant as cost auditor, with the Audit Committee (or Board where no committee exists) ensuring statutory eligibility, independence certification, and compliance with engagement limits. The company must e-file Form 23C with prescribed attachments and fee within the prescribed period; the filing is deemed approved absent contrary direction within thirty days, subject to resubmission if required. Following deemed approval the company issues the appointment letter and the cost auditor must notify the Central Government; companies must disclose auditor details and report filing dates in the Annual Report. Penalties apply for defaults by companies, officers, and auditors. en-us Mon, 11 Apr 2011 00:00:00 +0530 Tue, 14 Jun 2011 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10495 Companies required to audit cost records must appoint a qualified cost accountant as cost auditor, with the Audit Committee (or Board where no committee exists) ensuring statutory eligibility, independence certification, and compliance with engagement limits. The company must e-file Form 23C with prescribed attachments and fee within the prescribed period; the filing is deemed approved absent contrary direction within thirty days, subject to resubmission if required. Following deemed approval the company issues the appointment letter and the cost auditor must notify the Central Government; companies must disclose auditor details and report filing dates in the Annual Report. Penalties apply for defaults by companies, officers, and auditors. Circulars Companies Law Mon, 11 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10495