Accountants Act · 2023 Revised Edition · Part · Accounting Corporations, Accounting Firms and Accounting Limited Liability Partnerships
28. Effect of becoming accounting Limited Liability Partnership
Official textFrom Attorney General's Chambers, unchanged
An accounting Limited Liability Partnership is authorised to do anything that a public accountant can do by law and is required to do all that a public accountant is required to do by law in respect of the provision of public accountancy services by that accounting Limited Liability
accounting limited liability partnership
“accounting limited liability partnership” means a limited liability partnership approved as an accounting limited liability partnership under section 22;
Partnership.
Subsection (1) does not apply to the doing of anything that can only be done by a public accountant as an individual.
public accountant
“public accountant” means a person who is registered in accordance with this Act as a public accountant;
A public accountant who provides public accountancy services as a partner or as an employee of an accounting Limited Liability Partnership shall be subject to the same standards of professional conduct and competence in respect of such services as if he were personally providing the public accountancy services as a public accountant in an accounting firm.
public accountancy services
“public accountancy services” means the audit and reporting on financial statements and the doing of such other acts that are required by any written law to be done by a public accountant;
The fact that a public accountant personally provides public accountancy services as a partner or as an employee of an accounting
Limited Liability Partnership shall not affect the personal liability of that public accountant at law.
Relationship between client and accounting corporation or accounting
accounting corporation
“accounting corporation” means a company approved as an accounting corporation under section 20;
Terms defined in s 2
accounting corporation
Defined · s 2“accounting corporation” means a company approved as an accounting corporation under section 20;
accounting firm
Defined · s 2“accounting firm” means a firm approved as an accounting firm under section 21;
accounting limited liability partnership
Defined · s 2“accounting limited liability partnership” means a limited liability partnership approved as an accounting limited liability partnership under section 22;
public accountancy services
Defined · s 2“public accountancy services” means the audit and reporting on financial statements and the doing of such other acts that are required by any written law to be done by a public accountant;
public accountant
Defined · s 2“public accountant” means a person who is registered in accordance with this Act as a public accountant;
Part
Practice Monitoring Programme
Part
Disciplinary Proceedings
Part