Cost Records and Audit Rules
The Companies (Cost Records and Audit) Rules, 2014 on the ICMAI website.
Open the Rules
Resources
Plan your cost audit year.
A calendar for companies with an April to March financial year, a checklist of records to keep ready and links to the official sources.
Cost audit calendar
A typical April to March year.
Exact dates depend on when your financial year starts and ends. We confirm yours when you engage us.
AprilFinancial year starts. Cost records kept in CRA-1 form from day one.
By late SeptemberBoard appoints the cost auditor, within 180 days of the start of the year.
Within 30 days of approvalCompany files CRA-2 (or within 180 days of year start, if earlier).
October to MarchMid-year review of cost records, allocation of overheads and product-wise cost statements.
31 MarchFinancial year ends. Stock, production and sales records are closed.
By late September of next yearSigned CRA-3 report goes to the Board, within 180 days of year end.
Within 30 days of the reportCompany files CRA-4 with the Central Government.
Checklist
Records to keep ready for the auditor.
Ready0 / 8
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Official sources
Where the rules are published.
Institute of Cost Accountants of India
Professional body for cost and management accountants.
icmai.inMCA21 portal
Ministry of Corporate Affairs portal where cost audit forms are filed.
mca.gov.inWant us to build your calendar?
We confirm your dates when you engage us.