KNOWLEDGE & RESOURCES
Cost Audit and Cost Records: Applicability, CAS and Tools
Find the existing guides and applicability tool for cost records and cost audit, alongside resources on product costs and profitability. Each resource addresses a different question; use the relevant guide for your company’s activities and turnover.
Explore related guides and tools
- Cost Records vs Cost Audit
- Cost Audit and Cost Records Rules
- Cost Audit Applicability Checker
- CAS-4 and Cost of Production
Resources are educational. Verify current laws, notifications and requirements against official sources for your particular facts.
Learn the cost standards
Do cost records and cost audit apply to my company?
Cost records and cost audit are separate tests under the Companies (Cost Records and Audit) Rules, 2014. The applicability review considers company status, covered products or services, turnover and exemptions.
Common questions
Are cost records and cost audit the same?
No. Maintaining prescribed cost records is a separate requirement; cost audit needs additional conditions to be met.
Does every manufacturer need a cost audit?
No. The rules apply to specified products or services and to entities satisfying the stated thresholds and conditions.
What should I gather for an applicability review?
List each product or service, the applicable classification, prior-year turnover, sector category and available exemption details.
Is a turnover threshold alone sufficient to decide?
No. Industry, product classification, corporate status, relevant-year figures and exemptions can change applicability.
Is CAS-4 the same as a statutory cost audit?
No. CAS-4 is a cost-measurement standard; a cost audit is a separate engagement governed by applicable company-law rules.
Practical example (fictional): Illustration: Two companies with the same overall turnover can have different applicability outcomes because their products, industries and exemptions differ.
Continue with the right resource
- Cost records versus cost audit
- Detailed cost-audit guide
- Applicability checker
- Cost audit and cost records service
General information only. Check applicable law, official updates and the facts of your situation before acting.