Cost audit and its advantages: We all know that audit involves verification and examination. Since books of account form the very basis for verification, it…
Cost audit and its objectives: It is now widely accepted that every type of accounting must be closely monitored by an appropriate auditing system. This…
Cost Audit and Financial Audit It is now widely accepted that every form of accounting must be accompanied by an appropriate system of auditing. This…
Cost and management audit A cost audit is an audit of cost records on utilization of materials, labor, overheads, and other items of cost applicable…
Cost Audit applicability: A cost audit is concerned with the verification of cost records/accounts and acts as a check on the adherence to cost accounting…