Accounting rules for LLPs revised with SORP 2022

CCAB has issued the revised Statement of Recommended Practice – Accounting by Limited Liability Partnerships (LLPs SORP) due to come into effect from 1 January 2022

The underlying purpose of the SORP is to deal with issues that are specific to LLPs and ensure that, as far as possible, LLPs present financial statements that are comparable with those of other entities.

The SORP has been updated for:

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