Cost Audit
We assist organizations in establishing the systems and procedures to assess the cost effectiveness and controls to optimize business resources. The focus of cost audit is to reflect the cost incurred in the activity, utilization of resources, identification of cost centers & inputs etc., based on the historical costs or standard or projected data for achieving specific objectives, backed by and supported with the verification of cost data, records and accounts, and a check on adherence to the prescribed cost accounting procedures that are used to reveal the internal strength, efficiency, price-output-cost factor and other significant operational aspects of business. Furthermore, as regards to the statutory or mandatory requirement is concerned, cost audit is required under the provisions of the Companies Ordinance 1984, and as per relevant rules; and reporting thereon, to business organizations or certain classes of companies engaged in production, processing and manufacturing activities. However, the responsible management gets benefited in the long run, foreseeing the business sustainability and cost efficiency.