Should cost audit of the big corporate sector be made mandatory?
Such a database is also essential in pricing of essential goods and regulating the interests of the Government and the public. Considering this, the Standing Committee on Economic Legislation has recommended the extension of cost records and cost audit to various sectors, including fuels, medical and surgical appliances, transportation, industrial machinery, agricultural/earthmoving machinery and defence. Besides, cost audit can play the role of whistle blower in corporate governance framework, as it addresses the value addition or value erosion, as th ...more
The corporates don't get any "poorer" by my suggested policy- they just end up staying up late & bustin' them braincells on R&D more than MBA more...but they make the same amount of money if not more. A large scale corporation's inherent strength is its ability to generate funds & multiply & sustain itself w/o govt funding. And also the ability to somehow grab foreign input. By hook or by *crook*. If we channel that advantage into something like say- a space craft research programme, or India's first indegenous passenger aircraft etc., then u still have the corporates productive and by no means "weakened" or "disbanded" .
But when the private sector starts equating ttheir fam ...more