Auditing Industrial Performance: India's Experience

Abstract

The government has given legislative backing to a system of cost audit, using a basic cost accounting format and recording rules. It has been applied so far to a range of industrial products in the essential consumer category, as a way of improving industrial performance. This experience, over 20 years, is reviewed. The process is likely to be extended, using improved procedures and possibly inter‐firm comparison. It is a form of external regulation and monitoring, using an audit approach, which — it is suggested — apart from enabling government to monitor performance, has also helped to make industry more professional.

Citation

Chakravarty, P. (1987), "Auditing Industrial Performance: India's Experience", Managerial Auditing Journal, Vol. 2 No. 2, pp. 17-20. https://doi.org/10.1108/eb017591