The Institute of Cost Accountants of India
(Statutory body under an Act of Parliament)
The Ministry of Corporate Affairs in terms of provision to Section 148(3) of the Companies Act, 2013 approved the Standards on Cost Auditing (SCAs 101 – 104) for mandatory compliance by the cost auditor in the audit of the cost records maintained by the companies covered under the Companies (Cost Records and Audit) Rules.
Cost Auditing and Assurance Standards Board (CAASB), the standard-setting body of the Institute, developed the Exposure Draft of Frequently Asked Questions (FAQs) on the Standards on Cost Auditing (SCAs 101 – 104) which was previously uploaded on the website for public comments but the response from the public was not up to the mark. Hence, it has been decided that the Exposure Draft of Frequently Asked Questions (FAQs) on the Standards on Cost Auditing (SCAs 101 – 104) will again be released for public comments. The ED-FAQs shall be revised by the CAASB in the light of suggestions/ comments received from the stakeholders.
Please submit your views / comments / suggestions on the Exposure Draft on FAQs in the following format latest by 30th April 2020 through email at email@example.com
Exposure Draft of FAQs can be downloaded from click here
CMA (Dr) Ashish P Thatte
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