Value Addition in Cost Audit - Non Financial Parameters Focus for MSMEs

Authors

  • R. Venkataramani Director, Westcott Electricals Pvt. Ltd., Chennai

DOI:

https://doi.org/10.33516/maj.v54i9.88-92p

Keywords:

No Keywords.

Abstract

This article explores the aspect of real value addition to Cost Audit, which is getting embroiled in the compliance mode, actively being pursued by the auditee and the auditors. This article is aimed at being a sequel to the article by our past President CMA M. Gopalakrishnan, who has spelt out his views on Future Proofing Cost Audit, which are thought provoking. The article details the approach for making cost audit effective from the auditee point of view and satisfying from the auditor point of view. While the non-financial parameters had only a brief reference in the said article, the author would like to share his personal experiences on the value addition thru non-financial performance metrics, which are vital especially to the MSME sector. The concept is equally applicable to non MSME sectors also.

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Published

2019-09-30

How to Cite

Venkataramani, R. (2019). Value Addition in Cost Audit - Non Financial Parameters Focus for MSMEs. The Management Accountant Journal, 54(9), 88–92. https://doi.org/10.33516/maj.v54i9.88-92p

Issue

Section

Cost Audit

References

Future Proofing Cost Audit Framework - CMA Mahadevan Gopalakrishnan - Aug 2019 Management Accountant journal

https://aceee.org/portal/national-policy/international-scorecard

https://www.oee.com/calculating-oee.html. calculations on "Overall Equipment Effectiveness"

https://www.iatfglobaloversight.org/International Automotive Task Force

https://en.wikipedia.org/wiki/ISO_9000

https://msme.gov.in/sites/default/files/MSME-AR-2017-18-Eng.pdf

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