Government gives Approval to Cost Auditing Standards

Government of India, Ministry of Corporate Affairs, vide their letter no. 52/33/CAB/2013 dated 10th September, 2015 has, under section 148(3) of the Companies Act, 2013, granted Central Government’s approval to the following Cost Auditing Standards:

1. Cost Auditing Standard-101 on Planning an audit of Cost Statements;

2. Cost Auditing Standard-102 on Cost Audit Documentation;

3. Cost Auditing Standard-103 on Overall objectives of the independent cost auditor; and

4. Cost Auditing Standard-104 on Knowledge of business, its processes and the business environment. These Standards shall come into force with immediate effect.

                                                    Approval letter link