Accounting for limited liability partnerships (LLPs) is a specialist area that requires expertise and an understanding of the sector. On this page you can access a range of articles, books and online resources providing quick links to Statements of Recommended Practice, guidance and news.
Statements of Recommended Practice
Issuing body
Statements of Recommended Practice (SORPs) relating to LLPs are issued by the Consultative Committee of Accountancy Bodies (CCAB).
Sources for the SORP and associated guidance
Statement of Recommended Practice (SORP) on Accounting by Limited Liability Partnerships (LLPs) (PDF 285.79Kkb/69 pages)
Revised SORP issued on 31 March 2010. The SORP applies UK Generally Accepted Accounting Practice (GAAP) to LLPs incorporated in Great Britain.
Useful links
ICAEW
Solictors Group
The special interest group provides practical support to chartered accountants within the sector. It offers news updates, technical guidance, as well as conferences and seminars.
Archived documents
2009
Exposure draft of a revised Statement of Recommended Practice on accounting by Limited Liability Partnerships (DOC 1.06mb/3 pages)
Draft issued by the CCAB on 3 August 2009.
LLPs SORP exposure draft markup to 2006 (DOC 1.19mb/9 pages)
Guide to proposed changes to the SORP published by the CCAB.
2006
Statement of Recommended Practice (SORP) on Accounting by Limited Liability Partnerships (LLPs) (PDF 584kb/55 pages)
Revised version of the SORP published on 31 March 2006.
A New Standard
Article published in Legal Week in June 2006, which looks at the impact of IFRS and the then-new SORP on LLP accounts.
Alert to practising firms from the Consultative Committee of Accountancy Bodies (PDF 93.87kb/3 pages)
Alert issued by the CCAB on 9 March 2006. The purpose of the alert was to draw practising firms attention to changes in accounting that are likely to have a major impact on the accounts of many LLPs.
2005
ICAEW REP 02/06 Accounting by Limited Liability Partnerships
Memorandum of comment submitted in December 2005 by the Institute of Chartered Accountants in England and Wales, in response to the CCAB's exposure draft of proposed amendments to the Statement of Recommended Practice (SORP) Accounting by Limited Liability Partnerships, published on 30 September 2005.
TECH 56/05 Accounting by Limited Liability Partnerships
Exposure Draft of a Statement of Recommended Practice on Accounting by Limited Liability Partnerships, issued by the CCAB's on 30 September 2005 for comment by 31 December 2005.
An exposure draft was published by the CCAB on 30 September 2005, as announced in the press release CCAB proposes new accounting rules for LLPs (PDF 84.63kb/3 pages).
2002
Accounting by Limited Liability Partnerships
Statement (PDF 131kb/44 pages) issued by the CCAB in May 2002. Also published as Technical Release TECH 06/02 Accounting by Limited Liability Partnerships.
2001
Prior to the publication of the final SORP the ICAEW issued Memorandum of comment submitted to the Consultative Committee of Accountancy Bodies in October 2001 concerning the exposure draft of a Statement of Recommended Practice, 'Accounting by Limited Liability Partnerships', published in July 2001 (Technical Release TECH 17/01) (PDF 34.59kb/12 pages) outlining its comments on the proposals contained in the draft SORP in November 2001.
Online articles
The library provides access to a range of articles in full text from leading business, finance and management journals.
You will need to be logged-in to the website to gain full access to the range of articles available online.
Articles and books in the Library collection
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document delivery service.
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