Saturday, 10 October 2015

Can a CA be a Partner in an LLP? Will he allowed to be an auditor for the same LLP?

Yes, Chartered Accountants in practice can come together to form an LLP. However, the LLP of Chartered Accountant professionals registered with the MCA and the ICAI would then have only CA Partners holding Certificates of Practice.

As "independence of the auditor" is a pre-requisite for appointment of an auditor, a person cannot be the auditor of an entity he is interested in (in this case, as a Partner of the LLP)

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