Taxmann Cracker - Cost & Management Audit (CMAD) Book for CMA Final by Tarun Agarwal, Leena Lalit Parakh

Cost & Management Audit | CRACKER is an authoritative and exam-focused study guide tailored for CMA Final – Group IV | Paper 17. It meticulously covers both the statutory requirements of Cost Audit under the Companies Act and the conceptual and practical aspects of Management, Internal, Operational, and Forensic Audits. The content is aligned with ICMAI's prescribed syllabus and enriched with case studies, solved past papers (up to June 2025), trend analysis, and practice tools to prepare aspirants comprehensively for upcoming examinations.

The Present Publication is the 1^st Edition for the December 2025/June 2026 Exams. This book is authored by CA. Tarun Agarwal and CA. Leena Lalit Parakh, with the following noteworthy features:

• [Fully Solved Past Exam Questions till June 2025] Ensures exam-oriented coverage
• [Module-wise Marks Distribution & Trend Analysis] Helps prioritise chapters based on exam weightage
• [Tabular Summaries] at the beginning of each chapter for quick recall and revision
• [Module-wise Comparison with ICMAI Study Material] Ensures nothing is left out.
• [Blend of Theory & Practical Questions] Balances conceptual depth with problem-solving
• [Easy-to-read Structure] Along with diagrams, flowcharts, and tables for clarity

The book is divided into four major sections, each covering crucial audit domains:

• Section A | Cost Audit
  • Legal framework, cost records, and cost auditor qualifications
  • Cost Accounting Standards (CAS) & GACAP
  • Cost Auditing & Assurance Standards (CAAS)
  • Planning, audit programme, documentation, execution
  • Preparation & filing of Cost Audit Reports in XBRL (as per MCA taxonomy)
• Section B | Management Audit
  • Basics – Definitions, scope, reporting needs
  • Performance, productivity & capacity utilisation analysis
  • Audit of Management Functions – Corporate services, development, HR, CSR, environment, energy, and efficiency
  • Specialised Audits – Propriety Audit, Social Cost Benefit Analysis, ESG Audit
  • Role of CMAs in management audit
• Section C | Internal & Operational Audit
  • Internal control framework and auditor's role
  • Evolution and scope of Internal Audit under Companies Act 2013
  • Internal audit in manufacturing companies and reporting under CARO
  • Operational Audit – techniques, engagement letters, role of CMAs
  • Sector-specific Audits – Hospitals, hotels, educational institutions, NGOs, co-operatives, local bodies, and government expenditure
• Section D | Forensic Audit & Anti-Money Laundering
  • Forensic Audit | Introduction, fraud risk management, forensic techniques, ethics, and professional opportunities
  • Anti-money Laundering – International standards, the accounting profession's role, risk-based approach, compliance framework

The structure of the book is as follows:

• Chapter-wise Learning Flow – Each chapter begins with a tabular summary, followed by a detailed discussion and ICMAI Study Material comparison
• Integrated Practice – Past exam questions (up to June 2025) are included within relevant chapters for contextual learning
• Exam Trend Tables – Provide insight into frequently asked topics and weightage distribution
• End-of-Chapter Practice Sets – Reinforce understanding and aid self-assessment