Rule 14 Remuneration of the Cost Auditor
- Text as on
- 14 August 2026
14. Remuneration of the Cost Auditor.-
For the purpose of sub-section (3) of section 148,—
(a) in the case of companies which are required to constitute an audit committee—
(i) the Board shall appoint an individual, who is a cost accountant , or a firm of cost accountants in practice, as cost auditor on the recommendations of the Audit committee, which shall also recommend remuneration for such cost auditor;
(ii) the remuneration recommended by the Audit Committee under (i) shall be considered and approved by the Board of Directors and ratified subsequently by the shareholders;
(b) in the case of other companies which are not required to constitute an audit committee, the Board shall appoint an individual “who is a cost accountant or a firm of cost accountants in practice as cost auditor and the remuneration of such cost auditor shall be ratified by shareholders subsequently.