ICAEW.com works better with JavaScript enabled.

Accounting for limited liability partnerships

Accounting for limited liability partnerships (LLPs) is a specialist area that requires expertise and an understanding of the business structure. 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.

What's on this page?

  • Statements of Recommended Practice
  • Useful links
  • Online articles
  • Books and articles from the library

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com
T  +44 (0)20 7920 8620
F  +44 (0)20 7920 8621

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: Accounting by Limited Liability Partnerships
Revised SORP issued on 15 July 2014 for 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

2014

Draft Statement of Recommended Practice: Accounting by limited liability partnerships
Exposure draft of a revised SORP published by the CCAB in October 2013. The consultation ended on 10 January 2014.

2010

Statement of Recommended Practice (SORP) on Accounting by Limited Liability Partnerships (LLPs)
Revised SORP issued on 31 March 2010. The SORP applies UK Generally Accepted Accounting Practice (GAAP) to LLPs incorporated in Great Britain.

2009

Exposure draft of a revised Statement of Recommended Practice on accounting by Limited Liability Partnerships
Draft issued by the CCAB on 3 August 2009.

LLPs SORP exposure draft markup to 2006
Guide to proposed changes to the SORP published by the CCAB.

2006

Statement of Recommended Practice (SORP) on Accounting by Limited Liability Partnerships (LLPs)
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
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.

2002

Accounting by Limited Liability Partnerships
Statement 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) 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. Access to articles is provided subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

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 supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.