NFRA finalises auditing standards for LLPs, recommend them for Centre’s approval
NFRA recommends auditing standards for LLPs, enhancing transparency and compliance for limited liability partnerships from April 1, 2026.
NFRA Proposes Auditing Standards for LLPs: A New Era of Financial Transparency
The National Financial Reporting Authority (NFRA) plans to apply auditing standards to Limited Liability Partnerships (LLPs). These standards, previously set for companies, await government approval.
NFRA Approves Comprehensive Auditing Standards for Limited Liability Partnerships in India
The NFRA has recommended various auditing standards for Limited Liability Partnerships, ensuring compliance with quality management protocols.
NFRA recommends revised audit standards for LLPs, ICAI objects to some changes
The NFRA has proposed new audit standards for LLPs, set to take effect in April 2026, despite ICAI's concerns about potential market concentration among major audit firms. The standards are similar to those for companies and were finalized in a recent NFRA meeting.
NFRA suggests 40 audit standards for LLPs to govt
The National Financial Reporting Authority (NFRA) recommended 40 auditing standards for limited liability partnerships (LLPs) to the corporate affairs ministry. These standards, finalized in November for companies,
NFRA recommends company audit standards be made applicable to LLPs
Experts noted that while specific standards on auditing exist for companies, such standards are yet to be notified for LLPs
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What Is a Limited Liability Partnership?
LLP stands for limited liability partnership. As the name suggests, an LLP provides its members with a degree of liability protection, shielding them and their personal assets. "A partner of a ...
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The Benefits of Master Limited Partnerships (MLPs)
And not all PTPs are MLPs; some could be publicly traded limited liability companies (LLC) that have decided to be taxed as a partnership. Just as with ordinary shares, when investors sell ...
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Is Your Company Ready for the New Partnership Tax Audit Rules?
All partnership entities ... limited partnerships or limited liability partnerships should review these rules and the ownership structures. If there is a desire to opt out of the new rules ...
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India’s NFRA to discuss audit norms for Limited Liability Partnerships
This initiative is viewed as part of ongoing regulatory efforts to support India's start-up ecosystem, following the ...
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Limited Liability Company
A form of business organization with the liability-shield advantages of ... The LLC also carries significant tax advantages over the limited partnership. For instance, unless the partner in ...
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Cut Your Wealth Transfer Taxes With a Family Limited Partnership
Greater asset protection can be achieved by holding the general partnership interest in a limited liability company (LLC) that is owned and controlled by the parents. At the same time, the ...
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What Are the Liabilities of a Silent Partner?
The partnership agreement includes the values ... Silent partners are most often involved with limited partnerships or limited liability companies (LLC) as opposed to general partnerships.
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Limited Liability Partnership
A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability A limited partnership is similar to a ...