Cost Audit represents the verification of cost accounting records to ensure they
adhere to the cost accounting principles and objective. Cost audit results in
enhanced competitive advantage, reduced cost of production, and profit
growth. At the macro level, cost audit services helps reduces inflation, increases
tax collection, and gives a boost to dividend, and economic development.
What we do? At Universal Accountants, cost audit services comprises following
- Review: to ensure that cost accounting records are in conformity with
Cost Accounting principles, and objective.
- Verification: checking cost reports, cost data and cost statements
prepared by the management and to ensure that it gives true and fair
view of cost of sales and production relating to various products.
- Reporting: pinpoints areas of weaknesses, unaccounted inefficiencies,
hidden losses and suggest corrective actions.
Why Choose Us for Cost Auditing Services? Owing to our rich industry
experience, our cost audit services helps in the smooth running of our clients
businesses and operations. We have qualified and experienced team members
that provide these services in compliance to the client’s diverse industry
requirements in order to yield maximum profits.
- We compare actual results with budgeted results and provide reliable
cost data for managerial decisions.
- We help management to regulate production.
We identify the loopholes that are the main cause of material, labor and
- overheads wastage and help reduces the cost of production.
- We help in detection of errors, frauds and an irregularity of the cost
system that helps improves efficiency of the organization as a whole.
Universal Accountants Cost Audit Services aids in identifying early weaknesses
in the cost control system for corrective actions to help you accomplish your
cost audit objectives.