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Corporate Laws Central Ministry of Corporate Affairs Companies Act, 2013

Companies (Cost Records and Audit) Amendment Rules, 2025

30-May-2025 | G.S.R. 361(E)

Ministry of Corporate Affairs (MCA) has issued the Companies (Cost Records and Audit) Amendment Rules, 2025. These amendments update the provisions under the Companies (Cost Records and Audit) Rules, 2014, effective from July 14, 2025. The amendments include changes to Forms CRA-2 and CRA-4. The revised CRA-2 form, which is used to notify the Central Government of the appointment of a cost auditor, now covers various types of auditor appointments, including original appointments, Appointments resulting from company mergers or demergers, Appointments due to a vacancy, Appointments made when new products or services are introduced. It also requires the selection of the reason for filing, details about the financial year, comprehensive information about the cost auditor(s) (including membership number, PAN, firm registration number, contact details, and scope of work), specifics on the audited industries or services (both regulated and non-regulated), and a declaration confirming that the auditor’s consent and certificate have been obtained as per the rules. Additionally, the CRA-4 Form(Form for filing Cost Audit Report with the Central Government) has been updated to enhance the precision and accountability of cost audit reporting. Key updates include: - Whether there has been any change in the financial year - Information regarding any extension granted for the AGM, including SRN details - Details of the board meeting during which the audit report was approved - The number of regulated and non-regulated products or services included in the audit - Details about the auditor, including whether the audit was qualified or included reservations, adverse remarks, or recommendations - A mandatory upload of the cost audit report in XBRL format (a digital standard for financial reporting) For more information, please refer to the attached document.

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