Cost Audit represents the verification of cost accounts and check on the adherence to cost accounting plan. Cost audit ascertain the accuracy of cost accounting records to ensure that they are in conformity with Cost accounting principles, plans, procedures and objective. Cost audit comprises following;

01. Verification of the cost accounting records such as the accuracy of the cost accounts, cost reports, cost statements, cost data and costing technique and To certify financial statements.

02. Examination of these records to ensure that they adhere to the cost accounting principles, plans, procedures and objective. Read more