New Cost Audit Orders issued by MCA in supersession to the earlier Cost Audit Orders issued till date

 

F. No. 52/26/CAB‐2010 dated November 6^th , 2012

Ministry of Corporate Affairs

Cost Audit Branch

Consequent upon notification of the Product or Activity Group classification published vide S.O. 1747(E) dated 7th August, 2012 and in supersession of the earlier Orders issued vide even number dated 2^nd May 2011, 3^rd May 2011, 30^th June 2011 and 24^th January 2012, the Central Government hereby makes the following Order-

 

A.) Any Company engaged in the production, processing, manufacturing or mining of the products/activities (Mentioned in Table 1) shall get its Cost Accounting Records audited

 

With Effect from: January 1^st, 2013

Applicability:  

• Aggregate value of Net Worth > Rs 5 crores or
•  Aggregate value of Turnover > Rs 20 crores or
•  Equity/Debt securities are listed in stock exchange

 

 

B.) Any Company engaged in the production, processing, manufacturing or mining of the products/activities (Mentioned in Table 2) shall get its Cost Accounting Records audited

 

With Effect from: January 1^st, 2013

Applicability: 

•  Aggregate value of Turnover > Rs 100 crores or 
• Equity/Debt securities are listed in stock exchange

 

 

All companies that were earlier covered under industry specific orders dated 2nd May 2011 or 30th June 2011 or 24th January 2012 [subject to their meeting with the qualifying criteria mentioned therein] shall continue to comply with the earlier orders upto the financial year commencing prior to the 1^st day of January 2013 and in continuum, with these orders in respect of each of its financial year commencing on or after the 1^st day of January 2013.

 

LINK FOR THE NOTIFICATION