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CMA Final · Cost and Management Audit · Basics of Cost Audit

As per the official text of section 148, within what period must a company furnish the Central Government with the cost audit report, along with full information and explanation on every reservation or qualification, from the date it receives a copy of the report?

The company must furnish the cost audit report to the Central Government within thirty days from the date it receives a copy of the report. It must include full information and explanation on every reservation or qualification contained in the report, as section 148(6) requires.

  1. AThirty daysCorrect
  2. BFifteen days
  3. CSixty days
  4. DNinety days

Explanation

Section 148(6) requires the company to furnish the Central Government with the report within thirty days from the date of receipt of a copy of the cost audit report, along with full information and explanation on every reservation or qualification. The other periods are not stated in the section.

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