- Circular of CA’s forming LLP’s now allowed to become Statutory Auditors is Missing -RTI Reply Circular is Violation Of SECTION 25 OF ICAI ACT.
Section 25 in the Chartered Accountants Act, 1949
25 Companies not to engage in accountancy :-
(1) No company, whether incorporated in India or elsewhere, shall practice as chartered accountants.
MCA in a General Circular dated 4th April 2011 has clarified that:-
The word “Partnership” wherever occurring in the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980 shall mutatis mutandis be construed as including those limited liability partnerships (LLPs) where all the other partners are natural persons (individuals) and that the word “partner” shall also be construed accordingly