CMA Final · December 2025 · Paper 17
CMA Final Cost and Management Audit December 2025: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICMAI; read them on ICMAI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 2(a) | 7 | Main purposes of cost audit | Basics of Cost Audit |
| 2(b) | 7 | Repairs and maintenance cost particulars required in cost records under the rules | Companies (Cost Records and Audit) Rules, 2014 |
| 3(a) | 7 | Steps a cost auditor takes before accepting an appointment | Cost Auditor |
| 3(b) | 7 | Factors in planning a cost audit assignment | Cost Audit Programme |
| 4(a) | 7 | Landed cost of imported material under the material cost standard with duty, freight, subsidy and charges | Overview of Cost Accounting Standards and GACAP |
| 4(b) | 7 | Treating replacement of an insurance spare and reconditioning under the repairs and maintenance cost standard | Overview of Cost Accounting Standards and GACAP |
| 5(a) | 7 | Working out cost-accounts profit from financial profit by excluding non-cost items and valuation differences | Preparation and Filing of Cost Audit Report |
| 5(b) | 7 | Investigation methodology in a forensic audit | Forensic Audit |
| 6(a) | 7 | Search and seizure powers under anti-money laundering law | Anti-Money Laundering |
| 6(b) | 7 | Techniques used in management audit | Basics of Management Audit |
| 7(a) | 7 | Steps in an information technology security audit | Information Systems Security Audit |
| 7(b) | 7 | Benefits of environmental auditing | Management Audit in Different Functions |
| 8(a) | 7 | Internal control questionnaire for inventory | Internal Control and Internal Audit |
| 8(b) | 7 | Receipt and payment verification points in the audit of a hotel | Audit of Different Service Organisations |
What stood out
- Theory dominated: eleven of fourteen written parts were explain-or-list questions, with only three numerical parts (imported material cost, spare parts under CAS, cost profit reconciliation).
- Cost audit chapters (purpose, rules, auditor appointment, planning) filled Questions 2 and 3 entirely, rewarding close reading of the cost audit rules.
- As in June 2026, the MCQ section included a five-question numerical case on factory overhead and unit cost, worth 10 marks.
- Management audit, IT security, environmental audit, forensic audit, anti-money laundering and service-organisation audit each had one theory part.
- Cost accounting standards on material cost and repairs and maintenance were the only standards tested numerically this term.
Practise the chapters that carried the marks
Overview of Cost Accounting Standards and GACAP, Basics of Cost Audit, Management Reporting Issues and Analysis: study guides and practice questions in the CMA Final format.