After reading this article you will learn about the Objections in Publishing Cost Audit Report. The publication and circulation of annual Financial Audit Reports to the members and shareholders of a company are mandatory and compulsory. But the position with respect to Cost Audit Reports is entirely different. The cost auditor submits his reports to the company and to the [...]
This article throws light upon the top seven views justifying disclosures of cost audit reports. (i) The provisions of the Companies (Amendment) Act, 1974 intends to 'safeguard the interests of the shareholders'. The interests of the shareholders are not merely limited to a satisfactory return on their sums invested. They, as outsider-participants in the capital funds, are interested to judge [...]
After reading this article you will learn about the Disclosure of Cost Audit Report. The prime object of statutory cost audit is "to make the industries alert and efficient and to make them know their rational costs with a view to reducing it to the extent possible................. it is a definite step towards removal of social injustice," observed H.R. Gokhale, [...]