10/12/2019

Understanding the role of auditors in LLP

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Limited Liability Partnership (LLP) is a corporate structure combining features of company and partnership firm. LLP registration enables a separate legal structure and is liable to the full extent of its assets but the partners are liable to the extent of their agreed contribution in LLP. Partners are not liable for each other’s misconduct or negligence. Also, they have the right to manage the business directly.

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Tags: limited liability partnership / llp / Business Registrations / auditors for llp / role of auditos

 

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