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LLP as auditor...
The term LLP means what....?How LLP can be a auditor..... explain the term....
Answers (6)
Limited liability partner means?
A Limited Liability Partnership (LLP) is a partnership in which some or all partners have limited liability. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. LLP is a firm, so if the partners of LLP are practicing CAs, then such LLP can be appointed as teh auditor ICAI permits practicing Chartered accountants to practise only through a partnership firm, proprietorship firm or limited liability partnership.
