When must an LLP’s accounts be audited?
When must an LLP’s accounts be audited?

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • When must an LLP’s accounts be audited?
  • Brexit impact
  • Requirement for an LLP to audit its accounts

This Practice Note looks at the requirement that an LLP’s annual accounts be audited in accordance with Part 16 of the Companies Act 2006 (CA 2006) as applied to limited liability partnerships (LLPs) by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911.

Brexit impact

The UK audit regime may be affected by Brexit. For further details of its impact, see Brexit—statutory audit.

Requirement for an LLP to audit its accounts

An LLP is required to have its annual accounts for a financial year audited in accordance with CA 2006, Pt 16, unless the LLP can take advantage of one of the exemptions available. The term ‘au