Workshop on Cost Audit and Assurance Standards

Chhatrapati Sambhajinagar:

The Institute of Cost Accountants of India-Chhatrapati Sambhajinagar Chapter organised a one-day workshop on Cost Audit and Assurance Standards at the CMA Bhawan, here recently.

Senior practising Cost and Management Accountant (CMA) Pravin Mohani was the speaker.

Managing committee member CMA Parag Rane welcomed the members and introduced the speaker. CMA Jayant Galande felicitated the speaker.

CMA Mohani explained in details Cost Audit and Assurance Standards (CAAS-101, CAAS-102, CAAS-103 and CAAS-104).

He threw light on aspects like planning of cost audit of cost statement, cost audit documentation, overall objectives of independent cost auditor and conduct of an audit in accordance with standards of auditing, knowledge of business, its processes and business environment and matters to be considered while formulating audit strategic and plan.

He said as per the direction of the union Ministry of Corporate Affairs, the Board has developed 15 more CAA standards, which have been sent to the MCA for approval.

Chapter chairman CMA Rajesh Deshmukh, senior members CMAs M R Pandit and S R Pimple were present.