Cost Accounting Standards Board
Request for Comments
A Cost Accountant may be engaged by an entity to compile cost statements and reports on voluntary basis on costs for various purposes other than mandatory Cost Audit under the Companies (Cost Records and Audit) Rules, 2014. These engagements are voluntary in nature. There is no such guidance available for the members on the subject matter as to how to finalise such statements and reports.
In view of the above, the Cost Accounting Standards Board (CASB), the standard-setting body of the Institute, has developed and approved the release of Exposure Draft of Guidance Note on Compilation Engagements by a Cost Accountant. The draft shall be finalised by the CASB in the light of suggestions/ comments received from the stakeholders.
Please submit your views / comments / suggestions on the Exposure Draft in the following format latest by 8th February 2019 through email at casb@icmai.in
Exposure Draft of Guidance Note can be downloaded from the following link
http://icmai.in/upload/CASB/Exposure_Draft_Compilation_Engagement.pdf
Date: 30-Jan-2019
CMA Balwinder Singh Vice-President & Chairman, Cost Accounting Standards Board
