CMA Final · June 2026 · Paper 17
CMA Final Cost and Management Audit June 2026: 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 | Meaning, scope and social objectives of cost audit | Basics of Cost Audit |
| 2(b) | 7 | Finance cost items to be kept in cost records and how they are assigned to cost objects | Companies (Cost Records and Audit) Rules, 2014 |
| 3(a) | 7 | Acts treated as professional misconduct for a practising cost accountant | Cost Auditor |
| 3(b) | 7 | Factors a cost auditor considers when planning the audit assignment | Cost Audit Programme |
| 4(a) | 7 | Cost per unit of power from a captive generation plant under the utilities cost standard | Overview of Cost Accounting Standards and GACAP |
| 4(b) | 7 | Identifying and measuring direct expenses for two products under the direct expenses cost standard | Overview of Cost Accounting Standards and GACAP |
| 5(a) | 7 | Value addition computation for the cost audit report annexure over two years | Preparation and Filing of Cost Audit Report |
| 5(b) | 7 | Meaning of corporate fraud and its major causes in modern organisations | Forensic Audit |
| 6(a) | 7 | Objectives and functions of the national financial intelligence unit in combating money laundering | Anti-Money Laundering |
| 6(b) | 7 | Management audit report and the qualities of a good one | Basics of Management Audit |
| 7(a) | 7 | Meaning of corporate image and a strategy for building a positive image | Evaluation of Corporate Image |
| 7(b) | 7 | Performance analysis and the metrics a company may track | Management Reporting Issues and Analysis |
| 8(a) | 7 | Objectives, advantages and disadvantages of operational audit | Operational Audit and Internal Audit under Companies Act, 2013 |
| 8(b) | 7 | Audit programme for the audit of a hospital | Audit of Different Service Organisations |
What stood out
- The MCQ section included a five-question numerical case on pricing an export order at full capacity, so 10 of the 30 MCQ marks needed cost sheet working.
- Only three written parts were numerical (captive power cost, direct expenses under the cost standard, value addition), all tied to cost accounting standards or the cost audit report annexure.
- Management audit, forensic audit and anti-money laundering together supplied about half the written parts, and all were theory.
- Cost accounting standards were the most tested area overall, with three MCQs plus two 7-mark numericals.
- A candidate comfortable with theory could answer five full questions without attempting any numerical part.
Practise the chapters that carried the marks
Overview of Cost Accounting Standards and GACAP, Management Reporting Issues and Analysis, Preparation and Filing of Cost Audit Report: study guides and practice questions in the CMA Final format.