Can llp one partner other than ca take the audit assignment
Querist : Anonymous
I want the expert advice of you on following;
One LLP is formed with three partners two of them are CA and third partner is other than CA
Now question is that, can LLP take audit (any audit) in its name i.e in the name of LLP.
Audit report will be signed by CA Partner.
Thanks n Regards
Querist : Anonymous
As I mentioned in question the report will be signed by a CA Partner but appointment letter can be taken in the name of LLP.
Querist : Anonymous
One Request
Is it possible for you to give reference of relevant section.
But ICAI has not yet permitted multi-disciplinary CA firms nor has allowed practicing CAs to form LLPs with non-practicing CAs are partners. As of last update on 9 July 2014 itself ICAI has constituted a group to study formation of multi-disciplinary which is yet to submit its final report/recommendation.
http://220.227.161.86/29207rtpfinalmay2013_3.pdf
Post issuance of this circular only ICAI issued guidelines for formation of LLPs by Chartered Accountants. ICAI didn't amend its act and permits filing of Form 18 etc only by the Chartered Accountants (mandatory for formation of a LLP/Partnership firm under ICAI regulations)
Even now, sharing of profits with Non-CAs except for "prescribed professionals for services rendered outside India"
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