Quick Summary
Introduction: Every business requires multifarious professional services and it is common knowledge that a business entity invariably approaches multiple agencies for different services, for which they are qualified or considered proficient. It is a rarity in reality that a single agency is compe
Daily Limit Reached
You have reached your daily limit of 2 Free Articles
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Articles Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now
Already a PRO member? Login here for an ad-free experience.
FAQ :
An MDF is a partnership firm that allows Chartered Accountants to partner and share profits with professionals from other recognized disciplines, such as company secretaries, advocates, and engineers.
Recognized professionals include members of the Institute of Company Secretaries of India, Institute of Cost and Works Accountants of India, Bar Council of India, Indian Institute of Architects, and Institute of Actuaries of India, as well as qualified engineers and MBAs.
Unlike a corporate form, which is legally barred from undertaking core statutory auditing services, an MDF can engage in both core auditing and non-core consultancy services under one roof.
An LLP structure limits the civil liability of the firm and its partners, protecting individual partners from being personally, jointly, and severally liable for damages caused by another partner's negligence.
In India, disciplinary action is taken against individual partners rather than the firm itself. Any professional misconduct is tried by the respective professional body to which the individual partner belongs.
CAclubindia
