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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Section 34A Empowers Government to Set Accounting, Auditing Standards for LLPs with ICAI & NFRA</h1> The Limited Liability Partnership (Amendment) Act, 2021 introduces a new section 34A to the principal Act, empowering the Central Government to prescribe accounting and auditing standards for limited liability partnerships. This is to be done in consultation with the National Financial Reporting Authority and based on recommendations from the Institute of Chartered Accountants of India. These standards apply to specific classes of limited liability partnerships, ensuring standardized financial reporting and auditing practices.
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