From: Saleem Ahmed GM Finance Pakistan Steel Mills Corporation . <cfo@cyber.net.pk>
To: accountants_forum@yahoogroups.com; mmy_mohsin@yahoo.com; FinProS@yahoogroups.com
Sent: Wed, July 6, 2011 10:39:46 AM
Subject: RE: [accountants_forum] Re: COST AUDIT Authority
Dear Mohsin
I my humble view audit is special job. It can be Tax audit, fraud audit, forensic audit, operational audit, cost audit etc. all need is an audit approach and mindset that is not available in accountant be it cost accountants or chartered accountants. May be because of this only audit firms are allowed to carry out audit under the statute be it cost audit or any other audit.
It's not a matter of CA or CMA it's actually a matter of having expertise in the field. A good car driver cant be a good mechanic and vice versa.
Not all CAs are good auditors and I know so many CMAs that are actually working as auditors and are well known and reputed for their work.
Rgds
From: accountants_forum@yahoogroups.com [mailto:accountants_forum@yahoogroups.com] On Behalf Of Mohsin Yousuf
Sent: Tuesday, July 05, 2011 2:56 PM
To: Samreen Feroz; FIN PRO; accountants_forum@yahoogroups.com
Subject: [accountants_forum] Re: COST AUDIT Authority
Dear all friends
First, i appreciate the effort and courage to raise this topic. Here the problem is that, top management of ICMAP are also chartered accountant, and they intentionally do not want to take the step to remove the clause from company ordinance for eligibility of chartered accountant to conduct the cost audit of firm. Even, i personally believe that course structure of CA is not much relevant to cover the all aspect of cost audit, but i don't know why they give them authority to conduct the Cost Audit.
With reference of this topic and forum, I am hereby requesting to respected management of ICMAP that, take needful action in this regard, do not let you down yourself even your own identity. We do not need the implementation of formal dress code, we need our identity.
Regards
Mohsin Yousuf
CMA(finalist)
________________________________________
From: Samreen Feroz <samreen_cma@yahoo.com>
To: FIN PRO <FinProS@yahoogroups.com>
Sent: Monday, July 4, 2011 10:14 PM
Subject: [FiNpRoS] Re: COST AUDIT Authority
Members Please comments.....
From: Rizwan Farooque <rizwancma@yahoo. com>
Subject: Re: Management Accountants: : COST AUDIT Authority
To: ManagementAccountan ts_Forum@ yahoogroups. com
Date: Friday, July 30, 2010, 4:19 AM
Dear Memeber.
its good quetion why CA conduct cost audit ?
its
________________________________________
From: some one <forsome148@yahoo. com>
To: managementaccountan ts_forum@ yahoogroups. com; cost-accountants@ yahoogroups. com
Sent: Thu, July 29, 2010 5:12:29 PM
Subject: Management Accountants: : COST AUDIT Authority
Refer to cost audit hand book issued by ICMAP…
India is the pioneer in introducing "COST AUDIT" since late 60s and now over 40 industries are covered under cost audit scheme. In India and Bangladesh, ONLY Cost & Management Accountants are eligible to conduct cost audit. In Pakistan, Chartered Accountants are also eligible to conduct cost audit.
Members are requested to comments on it;
WHY CHARTERED ACCOUNTANTS ARE ELIGIBLE TO CONDUCT COST AUDIT IN PAKISTAN ???
