Cost Audit represents the verification of cost accounting records to ensure they adhere to the cost accounting principles and objective. Cost audit results in enhanced competitive advantage, reduced cost of production, and profit growth. At the macro level, cost audit services helps reduces inflation, increases tax collection, and gives a boost to dividend, and economic development.
What we do?
, cost audit services comprises following three steps;
Why Choose Us for Cost Auditing Services?
- Review: to ensure that cost accounting records are in conformity with Cost Accounting principles, and objective.
- Verification: checking cost reports, cost data and cost statements prepared by the management and to ensure that it gives true and fair view of cost of sales and production relating to various products.
- Reporting: pinpoints areas of weaknesses, unaccounted inefficiencies, hidden losses and suggest corrective actions.
Owing to our rich industry experience, our cost audit services helps in the smooth running of our clients businesses and operations. We have qualified and experienced team members that provide these services in compliance to the client’s diverse industry requirements in order to yield maximum profits.
- We compare actual results with budgeted results and provide reliable cost data for managerial decisions.
- We help management to regulate production.
- We identify the loopholes that are the main cause of material, labor and overheads wastage and help reduces the cost of production.
- We help in detection of errors, frauds and an irregularity of the cost system that helps improves efficiency of the organization as a whole.
Cost Audit Services aids in identifying early weaknesses in the cost control system for corrective actions to help you accomplish your cost audit objectives.