Tag Archives | Cost Audit and Financial Audit

Difference between Cost Audit and Financial Audit | Auditing

The upcoming discussion will update you about the differences between cost audit and financial audit. Difference # Cost Audit: 1. Covers only select specified industries. Product wise coverage and not the whole company. SSI units are exempted. 2. Applicable only after issue of the order by Central Government. 3. By a Cost Accountant. 4. Appointment […]

Difference between Cost Audit and Financial Audit

This article will help you to differentiate between Cost Audit and Financial Audit. Difference # Cost Audit: A. Scope: 1. The entire emphasis is on micro-aspects, the aggregates being considered for checks. 2. It is an examination of day-to-day opera­tion, in so far as the cost records are de­signed in accordance with the cost ac­counting […]

Comparison between Cost Audit and Financial Audit

This article throws light upon the three points of comparison between cost audit and financial audit. The points are: 1. Functional Relationship 2. Co-Operation and Co-Ordination: Cost Audit and Financial Audit 3. Co-Operation and Co-Ordination: Cost Audit and Financial Audit. Comparison: Point # 1. Functional Relationship: There are some fundamental differences between the three forms […]

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