A new trend that has been observed of-late is that more and more entreprenuers have started opting for Limited Liability Partnerships. But What is a Limited Liability Partnership? Before answering this question we’ll explain you reasons behind the emergence of LLP’s. Till a few years back there used to be only 2 forms of Organisations Limited Liability Organisations i.e. Companies ...
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In a welcome move for all Chartered Accountants across the country, Ministry of Corporate Affairs has now allowed CA’s forming Limited Liability Partnerships (LLP’s) to conduct Audits and conduct attestation work. MCA in a General Circular dated 4th April 2011 has clarified that:- The word “Partnership” wherever occurring in the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, ...
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