CA Firms in LLP As Companies' Auditors
This query is : Resolved
Arjun Hariharan
(Querist)
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?
Please Clasify.
TIA, regards
Arjun
In this case, if a CA Firm is registered as LLP, then, is it eligible to be appointed as auditors?
Please Clasify.
TIA, regards
Arjun
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.
CA Nitin Wadhwani
(Expert)
28 April 2009
It will be certainly disqualified since the liablity is limited in a LLP which is not permissible.
Ankur Garg
(Expert)
03 May 2009
Agree with Mr. Nitin.
Probably CA Firms avoid registration by adopting the form of LLP.
Form of LLP attracts disqualification of section-226 for CA Firms due to the feature of Separate entity.
Probably CA Firms avoid registration by adopting the form of LLP.
Form of LLP attracts disqualification of section-226 for CA Firms due to the feature of Separate entity.
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