Adoption and approval of Cost audit report

[Purnima Marla]

Dear All,

Please let me know if cost audit report is to be mandatorily approved and adopted at a board meeting before uploading on MCA site and if yes can it be done by circular resolution as the Cost auditor has submitted the report post the Board meeting and it would be difficult to convene another one in quick succession

Thanks and Regards,

Purnima Marla Shetty

[satish gupta]

Ms. Purnima,

It is mandatory to adoption of Cost Audit Report in BOD meeting before filing with MCA.

As per Cost Audit Rules 2014, for the Cost Audit Year 2015-16 Chronological order is as follow: 

1. Cost Auditor Appointment should be completed within 180 days from start of FY year 2015-16 (last date was 27th Sep. 2015).

2. Cost Auditor has to submit Cost Audit Report for the year 2015-16 to BOD within 180 days from end of FY year 2015-16.

3. Company has to submit Cost Audit Report within 30 days from the date of BOD where BOD have approved it.

For the better clarification herewith enclosing a excel sheet regarding the Cost Audit Applicability and procedure.

Also, you can mail me on icwas...@gmail.com or call me on my cell no. 9827670006.

[satish gupta]

Cost Audit Report can not be approved by BOD by circular resolution.

On Monday, 19 September 2016 11:06:28 UTC+5:30, purnima.marla wrote: