Tag Archives | Cost Audit

Cost Audit: Meaning and Objectives | Auditing

In this article we will discuss about:- 1. Meaning of Cost Audit 2. Objectives of Cost Audit 3. Important Legal Provisions as to Cost Audit 4. Cost Audit Report Rules, 1996 5. Cost Accounting Records. Meaning of Cost Audit: The terminology issued by the CIMA defines Cost Audit as “the verification of the correctness of […]

Functional Responsibility of a Cost Auditor

After reading this article you will learn about the Functional Responsibility of a Cost Auditor. The expression that an auditor is a watch-dog and not a bloodhound was made in the course of judgment in a leading case- The Kingston Cotton Mills Company Ltd. A misfeasance action was taken by the liquidator against the auditor […]

Difference between Internal Auditor and Cost Auditor

This article will help you to differentiate between Internal Auditor and Cost Auditor. Before a general discussion on the matter is made it should be pertinent to note that an internal auditor: (i) Is an employee of the company, (ii) Has to be loyal to the company by responding to the uses and requirements of […]

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