Cost Audit is a systematic examination of cost records and accounts to verify the correctness of cost accounting, ensure cost efficiency, and comply with regulatory norms. As mandated under the Companies Act, certain companies are required to maintain cost records and get them audited by a qualified Cost Accountant.
Ensure proper maintenance of cost records and compliance with legal requirements
Detect errors, frauds, and inefficiencies in cost systems
Improve cost control and operational efficiency
Provide accurate cost data for decision-making and pricing
Facilitate government in policy making and subsidy distribution
Cost Audit is applicable to:
Companies engaged in manufacturing, production, or processing of goods
Service sector companies notified under cost audit rules
Industries regulated by central government (e.g., pharma, cement, steel, electricity)
Preparation and review of Cost Accounting Records
Compliance with Companies (Cost Records and Audit) Rules, 2014
Filing of Cost Audit Report in prescribed format (CRA-3)
Coordination with cost auditors and internal teams
Certification and submission of cost audit returns (CRA-4)
Establishes transparency in costing structure
Enhances cost consciousness and budgetary control
Assists in detecting wastage, inefficiencies, and cost overruns
Ensures compliance with statutory and tax regulations
Builds credibility with stakeholders, banks, and regulatory authorities
Qualified team of Cost Accountants and financial professionals
Expertise in industry-specific cost audit practices
End-to-end documentation and filing support
Timely submission and coordination with auditors and MCA
Ongoing advisory for cost management improvements
Email: info@ssconsultancy.net
Phone: +91 92468 22006
Stay compliant, reduce waste, and gain financial control with expert Cost Audit services tailored to your industry.
Hyderabad
+91 92468 22006