Skip to content

CMA Final · Cost and Management Audit · Cost Audit Programme

Under the Standard on Cost Auditing dealing with Cost Audit Documentation (SCA 102), for what minimum period should the cost audit documentation be retained, counted from the date of the Cost Audit Report?

Cost audit documentation must be retained for at least ten years from the date of the Cost Audit Report, as laid down in the application guidance of SCA 102. Periods such as three, five or eight years fall short of this minimum retention requirement.

  1. AThree years
  2. BFive years
  3. CEight years
  4. DTen yearsCorrect

Explanation

The application guidance in SCA 102 (para 6.18) states that cost audit documentation should be retained for at least ten years from the date of the Cost Audit Report. Shorter periods such as five or eight years are not what the standard prescribes.

Did you get it right without looking?

One question tells you little. A timed set on Cost Audit Programme shows your real accuracy, how long you take and where you lose marks.

Practise Cost Audit ProgrammeFree diagnostic mock

More Cost Audit Programme questions