Requirement for audited accountsU.K.
33. Section 475 applies to LLPs, modified so that it reads as follows—
“Requirement for audited accounts
475.—(1) An LLP's annual accounts for a financial year must be audited in accordance with this Part unless the LLP is exempt from audit under—
(a)section 477 (small LLPs),
[F1(aa)section 479A (subsidiary LLPs)], or
(b)section 480 (dormant LLPs).
(2) An LLP is not entitled to any such exemption unless its balance sheet contains a statement by the members to that effect.
(3) An LLP is not entitled to exemption under any of the provisions mentioned in subsection (1)(a) unless its balance sheet contains a statement by the members to the effect that the members acknowledge their responsibilities for complying with the requirements of this Act with respect to accounting records and the preparation of accounts.
(4) The statement required by subsection (2) or (3) must appear on the balance sheet above the signature required by section 414.”
Textual Amendments
F1Words in reg. 33 inserted (with application in accordance with reg. 2 of the amending S.I.) by The Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012 (S.I. 2012/2301), regs. 1, 20(2)