This explains when manufacturing companies must undergo cost audit based on turnover thresholds. The key takeaway is that exceeding ₹100 crore overall turnover and ₹35 crore product revenue triggers ...

Preparing for an incurred cost submission audit can seem like quite a major challenge for any government contractor. The Defense Contract Audit Agency conducts these audits and can make even the most ...

So where’s the relief? Public companies expected a spike in audit costs in 2004 as they moved to become compliant with rules under Sarbanes-Oxley accounting reform. The requirements for setting up ...

This explains why power, oil, gas, and coal companies fall under mandatory cost audit regulations. The key takeaway is that meeting turnover thresholds triggers strict compliance ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

The Internal Revenue Service issued a revised Audit Technique Guide last week to help examining agents evaluate the validity of cost segregation studies submitted by taxpayers to substantiate ...

If you’re a federal contractor whose fiscal year ended Dec. 31, and you do business with the Dept. of Defense (DoD), this could very well be crunch time for your company, with the deadline for ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. The cost principle is an important part of financial ...