Mandatory Cost Audits

MCA has vide its order no. F.No.52/26/CAB-2010 dated 30th June 2011 mandated cost audits for some more industries such as cement, glass, tyres & tubes, steel, paper, insecticides, paints & varnishes & aluminium in respect of its accounting year which commences on or after 1st April, 2011. Conditions being turnover should exceed Rs.100 crores or the company is a listed one or about to be listed.