Participation of Cost Auditor in the meetings of Audit Committee to be constituted under Section 292A of the Companies Act, 1956 - clarification reg.

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..... Shastri Bhavan, New Delhi. Dated the 9th of January, 2003 To All Regional Directors All Registrars of Companies Subjects: Participation of Cost Auditor in the meetings of Audit Committee to be constituted under Section 292A of the Companies Act, 1956 - clarification reg. Sir, The Department has examined whether the cost auditor appointed u/s 233B of the Companie .....

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..... age of these phrases should not be construed to mean that cost auditors are to be members of audit committees. 3. Sub-section 5 of section 292A provides that the auditors, internal auditors, if any, and the directors, in-charge of finance, shall attend and participate at the meetings of audit committees without voting rights. The intention of providing for attending the meetings by auditors .....

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