My Dear Friends & Professional Colleagues, As you are already aware the Draft Rules have let down and are disappointing. The Rules fall short of the expectations of the profession, industry and country as a whole to move forward to the next stage of economic growth to claim our own share in the global economy. The new provision by Govt. has abolished Cost Audit. The mechanism of Cost Audit is very critical for common public also as it can act as tool for price control for consumer protection forums. The rules are in draft phase and your reply is must. Request you to send this message to maximum possible members and for you ensure that every one from your home is registered for official reply online. The reply process is very simple. I have given it below. I have also given the reply that you can write. Do mention in your reply / suggestion that the Cost Audit has to be made mandatory to all the Companies in India and the Cost Audit Report should be made a public document. Circulate to your friends and urge them to give feedback. Send to your friends, family, clients, associates to any one you know and ask them to reply to the draft rules before 1st December 2013. We have to achieve max. exposure to the mechanism of Cost Audit and create public awareness. Each of us have to ensure that every one from our house is registered on the site and giving the feedback. We have to ensure that at least 10 of our friends are giving this reply. Cost Audit and Compliance Report is a unique mechanism in India. Under this mechanism the Cost of every product produced is calculated, audited and reported to the Govt. This is crucial information to curtail profiteering by the industry. In the current inflationary condition the price control is need for every citizen to live a decent life. This mechanism could have been made use by the govt. and the mechanism should have been strengthened by the government in public interest. Currently the services are not covered under this mechanism. What public want is decent price for hospitals, travel, communication, air transport, hotels, etc. industry. Government had a wonderful opportunity to take a pro public step when they drafted the new rules under companies act 2013. But it is sad to note that government and ministry has fallen pray to the pressure from industry and may be for some other reasons / interest, and the whole mechanism is almost scrapped keeping the industry scot free and free to loot Indian public. I request you that as a responsible citizen of india, to oppose this move by the industry by giving reply to this Draft Rules by 1st December. Your reply like your vote will count. We as cost accountants commit ourselves to public good. Take following points as pointers when giving your reply. Please mention following points – in the reply 1. Cost Audit is a very use full and pro people mechanism 2. All companies in India public and private should be covered under cost audit 3. Cost Audit should be made applicable to all production and service industries 4. The compliance report mechanism should be continued as under Cost Accounting Record Rules 2011 or the industries can be covered under Cost Audit 5. The Cost Audit Report should be made a public document. It is right of every consumer to know the cost of the product to curtail profiteering 6. No rational logic behind scrapping the mechanism which was designed just 2 years back. What is the reason behind the same. 7. It looks like a move under pressure from various self interest groups. 8. There can be bribery involved. Like Coal Gate its Cost Gate for the ministry. Steps to record your reply 1. Go to : ncbfeedback.mca.gov.in/ 2. Register for giving reply. 3. Use your personal email ids to register. 4. Select view by topic 5. Select cost accountant 6. Select Companies (Cost Records and Cost Audit) Rules 2013 7. Select Rule no. 3 8. Select Others 9. Then mention your suggestions covering most of the above 8 points and any other point you may want Thanks and Regards. CMA `s
Posted on: Mon, 25 Nov 2013 12:14:21 +0000
Trending Topics
Recently Viewed Topics
© 2015