In the face of global market competition, Pakistan’s industries need to effectively utilize the factors of production. The degree of competitiveness in the state’s domestic and international market determines the survival of its industries and economy. Noting this, Adil Abbasi, a member of the Institute of Cost and Management Accountants (ICMA), asserts that cost auditing across the industries of Pakistan will aid in meeting the challenges of market competition. He explains that while cost auditing is implemented in Pakistan, it is only limited to a few industries and thus, the state cannot fully benefit from it.
Adil Abbasi is a member of the Institute of Costs and Management Accountants of Pakistan (ICMAP), with around 15 years of experience in the private and semi-public sectors. He is currently serving as the principal of a TVET training institute in Talagang District, Chakwal. Mr. Abbasi also writes articles, occasionally, on different niches concerning business, economy, and education.