Archive | Cost Auditor

Classification of the Liabilities of a Cost Auditor

This article throws light upon the two main classification of the liabilities of a cost auditor. The classifications are: 1. Contractual Liability 2. Criminal Liability. Cost Auditor’s Liabilities: Classification # 1. Contractual Liability: The cost auditor is liable for non-fulfilment of the terms and conditions of an agreement between him and the company who appoints […]

Cost Auditor: Rights and Duties

After reading this article you will learn about the rights, powers and duties of the Cost Auditor.  Rights and Powers of a Cost Auditor: According to Section 233B (4) of the Companies Act, 1956, the cost auditor ‘shall have the same powers and duties in relation to an audit conducted by him under this section […]

Top 3 Roles of a Cost Auditor

This article throws light upon the top three roles of a cost auditor. The roles are: 1. As an ‘Agent’ 2. As an ‘Officer’ 3. As a ‘Servant’. Role # 1. As an ‘Agent’: If the basis of appointment of the auditor by different parties is the criteria to establish relationship among different persons who […]

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