https://www.taxtmi.com/article/detailed?id=1787 The Master Circular and subsequent clarifications require strict compliance with Section 233B and Cost Audit Report Rules: cost auditors must be independent and cannot act as internal auditors during their cost audit tenure; appointment ceilings count consents and overdue reports; a cost auditor's engagement is deemed concluded on filing the report with the government; reports must include prior-year comparative data and be signed in hand by the responsible partner with membership number. Audit Committees must review audit suggestions and obtain auditor independence certificates. Specific activities and sectors are exempted from the Records Rules and certain Cost Audit Orders, and covered companies must file Form B and retain cost records for eight years. Consolidated reporting and designation of a principal auditor govern multiple-auditor scenarios. en-us Mon, 25 Jun 2012 09:32:05 +0530 Mon, 25 Jun 2012 09:32:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1787 The Master Circular and subsequent clarifications require strict compliance with Section 233B and Cost Audit Report Rules: cost auditors must be independent and cannot act as internal auditors during their cost audit tenure; appointment ceilings count consents and overdue reports; a cost auditor's engagement is deemed concluded on filing the report with the government; reports must include prior-year comparative data and be signed in hand by the responsible partner with membership number. Audit Committees must review audit suggestions and obtain auditor independence certificates. Specific activities and sectors are exempted from the Records Rules and certain Cost Audit Orders, and covered companies must file Form B and retain cost records for eight years. Consolidated reporting and designation of a principal auditor govern multiple-auditor scenarios. Articles Corporate Laws / IBC / SEBI Mon, 25 Jun 2012 09:32:05 +0530 https://www.taxtmi.com/article/detailed?id=1787