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Sukhpreet Kaur, Lovely Professional University Unit 12: Cost Audit

Unit 12: Cost Audit Notes

CONTENTS
Objectives
Introduction
12.1 Cost Audit
12.1.1 Procedure for Cost Audit (for Financial Year 2011-2012 Onwards)

12.1.2 Enclosure with Form 23-C
12.2 MAOCARO to CARO
12.2.1 Clauses Removed
12.2.2 Clauses Expanded
12.2.3 New Clauses
12.2.4 Pros and Cons
12.3 Management Audit
12.3.1 Concept of Management Audit

12.3.2 Functions of Management Audit
12.3.3 Objectives of Management Audit
12.3.4 The Audit Team
12.3.5 Needs for Management Audit
12.3.6 Instilling a Desire to Improve
12.3.7 Management Audit Procedure
12.3.8 Conduct Management Audit

12.3.9 Keys Areas in which Management Audit can be undertaken in Cooperatives
12.3.10 Benefits of Management Audit
12.3.11 Management Audit & Report — Presentation Transcript
12.3.12 Management Reporting
12.4 Summary
12.5 Keywords
12.6 Review Questions
12.7 Further Readings

Objectives

After studying this unit, you will be able to:
State the meaning and procedure for cost audit;
Discuss about MAOCARO to CARO;
Discuss about management audit;
State the procedures and benefits of management audit.

LOVELY PROFESSIONAL UNIVERSITY 235