Certifying the costs incurred for a particular project (like new projects, new ventures etc..). This certification is based on the actual cost incurred for such particular project.
1. Obtain the underlying financial information (either financial statements or books of accounts). 2. Identify the projects towards which the certificate is required. 3. From the books of accounts identify the costs incurred towards the project which is the subject matter of certification. This has to be done by the management. 4. Verify the above computation independently and issue a certificate certifying the cost incurred towards a particular project.
1. Underlying financial information (either financial statements or trial balance from the books of accounts) 2. Statement and computation where costs have been identified towards particular projects and the basis for such identification.