1. Verification of Accuracy: Ensuring that the cost records and statements are accurate and reliable. 2. Compliance: Checking compliance with prescribed cost accounting standards and regulations. 3. Efficiency Evaluation: Assessing the efficiency of resource utilization in production processes. 4. Cost Control: Identifying areas where costs can be reduced without compromising quality. 5. Fraud Detection: Detecting any fraudulent activities or discrepancies in cost records.