https://www.taxtmi.com/news?id=15683 The draft amends the Companies (Cost Records and Audit) Rules, 2014 by replacing industry tables to define regulated and non-regulated sectors; requiring written consent and a certificate from the cost auditor confirming eligibility, non-disqualification, compliance with section 141 criteria and disclosure of pending professional proceedings; restricting removal of cost auditors to board resolutions recording reasons and requiring CRA-2 filings to enclose such resolutions; mandating board approval of cost statements before submission to the cost auditor; requiring the cost auditor to forward a signed report to the board within one hundred and eighty days of financial year end; and requiring companies to file CRA-4 in XBRL with explanations on qualifications or reservations within thirty days, with prescribed fees. en-us Wed, 24 Feb 2016 11:47:44 +0530 Wed, 24 Feb 2016 11:47:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15683 The draft amends the Companies (Cost Records and Audit) Rules, 2014 by replacing industry tables to define regulated and non-regulated sectors; requiring written consent and a certificate from the cost auditor confirming eligibility, non-disqualification, compliance with section 141 criteria and disclosure of pending professional proceedings; restricting removal of cost auditors to board resolutions recording reasons and requiring CRA-2 filings to enclose such resolutions; mandating board approval of cost statements before submission to the cost auditor; requiring the cost auditor to forward a signed report to the board within one hundred and eighty days of financial year end; and requiring companies to file CRA-4 in XBRL with explanations on qualifications or reservations within thirty days, with prescribed fees. News - Wed, 24 Feb 2016 11:47:44 +0530 https://www.taxtmi.com/news?id=15683