Cost audit and cost record - Its applicability and compliances

Cost audit is the independent audit of cost records maintained by companies. The concept of cost audit was introduced in 1965 when Companies Act, 1956 was amended to incorporate the provisions relating to the maintenance of cost accounting records and cost audit.

source https://www.caclubindia.com/articles/cost-audit-and-cost-record-its-applicability-and-compliances-46871.asp

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