The SECP has developed and approved draft Thermal Energy (Cost Accounting Records) Order, 2011, for the company engaged in production, processing and generation of thermal energy/power. The companies engaged in generation of thermal energy are required to maintain such cost accounting records, including all particulars relating to utilization of material, labour or other inputs of items of cost as would be necessary.. The aforesaid draft will be issued in exercise of powers conferred by clause (e) of sub-section (1) of section 230 read with section 246 of the Companies Ordinance, 1984, and section 40 B of the Securities and Exchange Commission of Pakistan Act, 1997. Cost audit can only be an effective regulatory tool when the cost records are properly prepared and cost audit reports are made on a uniform format for a particular sector. In order to bring uniformity to the cost records and cost audit reports, the SECP requested the ICMAP to develop guidelines  for  ...