The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 No. 1911

PART 11 APPOINTMENT OF AUDITORS

Fixing of auditor remuneration

37.  Section 492 applies to LLPs, modified so that it reads as follows—

“Fixing of auditor’s remuneration

492.— (1) The remuneration of an auditor appointed by the LLP must be fixed by the designated members or in such manner as the members of the LLP may determine.

(2) The remuneration of an auditor appointed by the Secretary of State must be fixed by the Secretary of State.

(3) For the purposes of this section “remuneration” includes sums paid in respect of expenses.

(4) This section applies in relation to benefits in kind as to payments of money.”