- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
8. Section 393 applies to LLPs, modified so that it reads as follows—
393.—(1) The members of an LLP must not approve accounts for the purposes of this Chapter unless they are satisfied that they give a true and fair view of the assets, liabilities, financial position and profit or loss—
(a)in the case of the LLP’s individual accounts, of the LLP;
(b)in the case of the LLP’s group accounts, of the undertakings included in the consolidation as a whole, so far as concerns members of the LLP.
(2) The auditor of an LLP in carrying out his functions under this Act in relation to the LLP’s annual accounts must have regard to the members’ duty under subsection (1).”
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Click 'View More' or select 'More Resources' tab for additional information including: