https://www.taxtmi.com/article/detailed?id=754 LLPs must maintain prescribed books of account sufficient to disclose financial position, prepare and file a Statement of Account and Solvency, and have accounts audited under the rules. Records must include particulars of receipts and payments, assets and liabilities, inventory and cost statements, be kept at the registered office for the prescribed period, and accounting may follow cash or accrual basis with double-entry bookkeeping. Auditor appointment, qualification, term, removal, resignation and exemptions from audit are governed by the rules, and failure to comply attracts penalties on the LLP and designated partners. en-us Tue, 13 Apr 2010 00:00:00 +0530 Tue, 13 Apr 2010 14:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=754 LLPs must maintain prescribed books of account sufficient to disclose financial position, prepare and file a Statement of Account and Solvency, and have accounts audited under the rules. Records must include particulars of receipts and payments, assets and liabilities, inventory and cost statements, be kept at the registered office for the prescribed period, and accounting may follow cash or accrual basis with double-entry bookkeeping. Auditor appointment, qualification, term, removal, resignation and exemptions from audit are governed by the rules, and failure to comply attracts penalties on the LLP and designated partners. Articles Limited Liability Partnership - LLP Tue, 13 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=754