Audit and assurance for businesses in Nashik
Statutory audit, tax audit, internal audit and systems work for companies, LLPs, partnership firms and trusts served from the Nashik office.
Last reviewed 3 October 2026
This page describes, for information, the audit and assurance work done from our Nashik office for entities in Nashik district. An audit is accepted only after the firm has assessed its independence and the eligibility conditions that the law sets for the auditor.
Each of statutory audit, tax audit, internal audit and systems work serves a different purpose. The audit and assurance service page gives the detail of each type.
Audit work in Nashik manufacturing and trading
Audit and assurance work carried out from Nashik is described on this page. Before an engagement is accepted, the firm assesses independence and eligibility under the Companies Act, 2013 and the Institute's standards. The main audit and assurance page sets out each type of audit and the work it involves.
Inventory at the year end
Factories in Satpur, Ambad and Sinnar hold raw material, work in progress, finished goods and scrap, and often material at job workers. Attendance at the physical count is planned by the auditor, who also tests valuation. Where working-capital limits require it under CARO 2020, book stock is compared with the stock statements given to banks.
Goods with job workers
Confirmations and challan reconciliations are used so that stock at job workers is counted once and only once. Cut-off around the balance sheet date is tested against dispatch and receipt records.
Fixed assets and capital work in progress
In the local estates, expansion years usually bring large additions. Capitalisation dates and depreciation are verified against purchase bills and put-to-use evidence; the ageing of capital work in progress is checked in the same way.
Independence
When the firm is the statutory auditor of a company, it provides that company and its holding or subsidiary company with no service barred by section 144 of the Companies Act, 2013. This assessment is made before an audit is accepted.
Common questions
Is a tax audit the same as a statutory audit?
They are separate audits. A statutory audit reports on the financial statements under the law that governs the entity, whereas a tax audit under section 63 of the Income-tax Act, 2025 (section 44AB of the 1961 Act) reports on matters relevant to the computation of income. Some entities need both.
When should a Nashik factory schedule the inventory count?
The count is usually held on the balance sheet date or close to it, and the auditor plans to attend. Before the year end, the date and the count instructions should be agreed. Those instructions cover job workers and other locations as well.
Does every partnership firm in Nashik need an audit?
An audit of a partnership firm is not required by the Partnership Act. A firm may still need a tax audit under the Income-tax Act, and its deed or its lender may call for an audit of its accounts. For LLPs, separate audit rules apply under the Limited Liability Partnership Act, 2008.
See also: Taxation, Accounting and Compliance
Industries: Manufacturing
Contact the firm
About Audit and assurance for businesses in Nashik, or any related matter. A phone number or an email address is enough for us to reply.
- Office
- Office at Plot 08, Eden Complex, Gangapur Road, Nashik 422222
- Hours
- 9:30 AM to 8:00 PM; other times by appointment