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The Ministry of Company Affairs is reviewing the four Cost Accounting Record Rules in order to rationalise them. These rules cover chemicals, caustic soda, soda ash and sulphuric acid. The Ministry is exploring the possibility of merging them in view of the likely changes in the manufacturing process and shift in the accounting methods and policies.
The procedure for appointing cost auditors is also under consideration. If approved, the companies will not have to seek the Central Government’s approval to appoint cost auditors
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