The much awaited The Companies (cost records and audit) Rules, 2014 has been notified. For applicability of cost record Companies has broadly classified into four categories i.e.
(A) Companies engaged in the production of following goods in strategic sectors.
(B) companies engaged in an industry regulated by a Sectoral Regulator or a Ministry or Department of Central Government.
(C) Companies operating in areas involving public interest
(D) Companies (including foreign companies other than those having only liaison offices) engaged in the production, import and supply or trading
(C) Companies operating in areas involving public interest
(D) Companies (including foreign companies other than those having only liaison offices) engaged in the production, import and supply or trading
each category has specified the sub-
The said rules has also specified the companies which need to get their cost records audited by the Cost Auditors.
Please go through the following link to check the The Companies (cost records and audit) Rules, 2014:
9811453353