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What is Importance of Cost Audit in Business about?

The document discusses the perceived multiplicity of audits - financial audit, internal audit, and cost audit - in companies. It summarizes that while audits are not welcome due to additional scrutiny, the three types of audits have different objectives but are complementary in nature. Financial audit enhances confidence in financial statements, internal audit protects assets and ensures proper controls and governance, and cost audit improves competitiveness. Therefore, rather than seeing audits as a burden

Author

Cma Pankaj Jain

Language

EN