Q. Which Ministry/Organisation has unveiled a draft to amend cost audit rules under Company Act, 2013?
Answer of this question "Which Ministry/Organisation has unveiled a draft to amend cost audit rules under Company Act, 2013?", here are 4 choices for this question : Ministry of Corporate Affairs, Ministry of Finance, Ministry of Human Resource Development, NITI Aayog. Answer Is "Ministry of Corporate Affairs".
The Centre will amend the cost audit rules under the Company Act, 2013 in order to ensure parity between financial and cost records. The amendments have been mooted pursuant to implementation of the Indian Accounting Standards (Ind AS), which is converged with global accounting norms. In this regard, the Ministry of Corporate Affairs has come out with a draft of the proposed amendments to the Companies (Cost Records and Audit) Rules, 2014.