Can a Firm of Chartered Accountants get converted into Limited Liability Partnership
can a CA Firm get converted into a LLP
Saliq Ansari (CA_Final Student) (885 Points)
07 February 2011
10 Replies
CA MAULIK
(C.A)
(937 Points)
Replied 07 February 2011
yes ,of course,also the rules which r applicable to firm is also applied to LLP...with some modification...........
Saliq Ansari
(CA_Final Student)
(885 Points)
Replied 07 February 2011
Thanks Mr. Maulik
But I had a confusion - would a LLP be a corporate body
Saliq Ansari
(CA_Final Student)
(885 Points)
Replied 07 February 2011
Thanks Mansha
But if LLP has a corporate identity then the CA firm (which has converted into LLP) would be disqualified to act as the auditor of any company u/s 226 (3) (a)
Kindly clarify
Saliq Ansari
(CA_Final Student)
(885 Points)
Replied 07 February 2011
Agreed
Partners wont be disqualified but the firm in whole will not be able to audit accounts of any company.
parthasarthy naidu
(CS)
(66 Points)
Replied 15 February 2011
Yes, CA firm can get itself converted into a LLP.
parthasarthy naidu
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 15 February 2011
Yes as per LLP Act, 2008 a CA Firm get converted into LLP but as pe my knowledge neither in CS nor in CA institute, the notification has been issued to get the CA or CS are allowed to form the LLP. So, untill and unless the notification is issued LLP can not be formed otherwise as per Act, yes LLP can be formed
CA Sumat Singhal
(Credit Analyst/ Financial Services/ Accounts & Finance)
(3677 Points)
Replied 07 April 2011
| Originally posted by : Saliq Ansari | ||
 |
Thanks Mr. Maulik But I had a confusion - would a LLP be a corporate body |
 |
sec 2(d) of LLP Aat 2008 includes LLP as a body corporate. so status of LLP is a body corporate like a company.
thanks
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 07 April 2011
Last year all the 3 Institute have amend their respective Laws to include the form of LLP. Therefore, CA, CS and CWA can now form LLP.
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