27 April 2009
As per Companies Act (Sec. 226 Qualifications & Disqualifications of Auditors), A Body Corporate cannot be appointed as auditors because it has Limited Liability.
In this case, if a CA Firm is registered as LLP, then, is it eligible to be appointed as auditors?
27 April 2009
However, the clarification is yet to come, but its Cristal clear that LLP is a separate body from its partner and similar to body corporate, therefore CAs cannot form a LLP to practice.
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