Cost Audit

A Cost Audit is a statutory requirement under the Companies Act, 2013 for specified industries to ensure that cost records and statements reflect a true picture of production efficiency, cost control, and profitability. At Tax Monks, we provide expert cost audit and compliance services to help businesses strengthen cost management and regulatory adherence.

Our Service Offerings Include:

• Statutory Cost Audit under the Companies Act, 2013:
  Conducting cost audits for eligible companies as per the rules prescribed by the Ministry of Corporate Affairs (MCA) and Cost Audit (Rules).
• Maintenance & Verification of Cost Records:
  Assistance in maintaining cost accounting records in accordance with Cost Accounting Standards (CAS) and verification of cost statements.
• Product & Process Costing Analysis:
  Detailed analysis of product-wise and process-wise cost to identify inefficiencies and opportunities for cost optimization.
• Preparation & Certification of Cost Audit Report (CRA-3):
  Compilation, review, and submission of cost audit reports and cost compliance certificates (CRA-2 & CRA-3) in compliance with MCA requirements.
• Advisory on Cost Compliance & Systems:
  Designing and implementing effective cost accounting systems to ensure continuous compliance and operational efficiency.
• Management Insights & Cost Control Recommendations:
  Providing actionable insights to management for better cost control, pricing decisions, and performance improvement.

At Tax Monks, we combine statutory compliance with strategic insights — helping organizations achieve transparency, efficiency, and value enhancement through effective cost audit practices.