XBRL Mandatory for Cost Auditor Now !

MCA: Cost Auditors to Report in XBRL FormatReviewed by Admin on May 12.Rating: XBRL Mandatory for Cost
 Auditor Now !Ministry of corporate Affairs has issued circular that cost auditor will now have to file cost audit 
report in XBLR format for the year 2011-12 onwards

It has been decided by the Ministry of Corporate Affairs vide its GENERAL CIRCULAR NO. 8/2012, DATED 
10-5-2012  to mandate the cost auditors and the companies to file Cost Audit Reports (Form-I) and 
Compliance Reports (Form-A) for the year 2011-12 onwards (including the overdue reports relating 
to any previous year) by using the XBRL taxonomy. These reports, required to be filed in the
 XBRL format, would be based on the Taxonomy on XBRL being developed for the formats
 (Form-I & Form-A) given in the following Rules :

(i)  Companies (Cost Accounting Records) Rules, 2011
(ii)  Cost Accounting Records (Telecommunication Industry) Rules, 2011
(iii)  Cost Accounting Records (Petroleum Industry) Rules, 2011
(iv)  Cost Accounting Records (Electricity Industry) Rules, 2011
(v)  Cost Accounting Records (Sugar Industry) Rules, 2011
(vi)  Cost Accounting Records (Fertilizer Industry) Rules, 2011
(vii)  Cost Accounting Records (Pharmaceutical Industry) Rules, 2011
(viii)  Companies (Cost Audit Report) Rules, 2011