This is a systematic examination of the cost records and accounts of a business or a project. The purpose of a cost audit is to verify the accuracy and reliability of the cost information, to identify and eliminate any errors or irregularities, and to ensure compliance with the relevant standards and regulations. A cost audit can also help to improve the efficiency and profitability of the business or the project by providing useful insights and recommendations for cost reduction and optimization.

We provide the Guidance for Maintenance of Cost Accounting Records prescribed under the Companies (Cost Records and Audit) Rules 2014 and certification as regards maintenance of Cost Records by the company. 

This involves comparing the costs and benefits of different alternatives, such as investments, projects or strategies, and choosing the most profitable or efficient one. 

This involves assigning costs to different products, services, departments or activities based on their consumption of resources or contribution to revenue. 

This involves identifying and eliminating unnecessary or inefficient costs, such as waste, duplication, overstaffing or outdated processes. 

This involves setting and monitoring budgets, standards and targets for costs, and taking corrective actions when deviations occur. 

It is a method of allocating overhead costs to products or services based on the activities they consume. It is more accurate than traditional costing methods that use arbitrary allocation bases such as direct labour hours or machine hours. ABC helps managers to identify the true cost drivers of their products or services and to make better decisions about pricing, product mix, outsourcing, and process improvement.