The Council of the Institute of Cost & Works Accountants of India (ICWAI) at its 268th Meeting has suggested the following minimum fees to be charged by CWA’s.
1. Fees for Cost Audit Related Assignments
| Turnover in Rs. Crores |
Fees for Cost Audit |
Fees for Cost Records/ Compliance |
|
Below 5 |
20,000 |
|
|
5-10 |
40,000 |
|
|
10-20 |
50,000 |
|
|
20-50 |
75,000 |
25,000 |
|
50-75 |
1,00,000 |
35,000 |
|
75-100 |
1,25,000 |
50,000 |
|
100-150 |
1,75,000 |
75,000 |
|
150-250 |
2,50,000 |
1,00,000 |
|
250-500 |
4,00,000 |
1,50,000 |
|
500-750 |
5,00,000 |
2,00,000 |
|
750-1000 |
6,00,000 |
2,50,000 |
|
1000-2500 |
7,50,000 |
3,50,000 |
|
2500-5000 |
8,50,000 |
4,50,000 |
|
5000-20000 |
10,00,000 |
5,00,000 |
2. Charges for Providing Services of Juniors
Cost Accountant (Qualified Assistant) - Rs. 1,000/hr
Cost Accountant (Intermediate) - Rs. 750/hr
Cost Assistant (Trainee) - Rs. 500/hr
3. Designing Systems of Cost and Management Accounting
Upto Turnover of Rs. 2 Crores - Rs. 50,000
Rs 2 Crores to Rs. 10 Crores - Rs. 1,00,000
Rs. 10 Crores to Rs. 100 Crores - Rs. 2,50,000
4. Finance Applications and Feasibility Report
Charges for Scrutiny of Technical and Market Feasibility Reports, preparing financial feasibility reports and drawing projection of profitability, financial position, capital plan and cash flow shall be based on the Cost of the Project.
For all Assignments, Service Tax and other applicable Taxes, Travelling and out of pocket expenses shall be charged extra
