Audit under the LLP Act — compliance built for partners.
Statutory audit, tax audit, Form 8 Statement of Account & Solvency, Form 11 Annual Return, and ROC compliance for Limited Liability Partnerships — handled end-to-end by ICAI-registered Chartered Accountants in Mumbai.
The LLP Act, 2008 was designed to give businesses the operational flexibility of a partnership with the limited liability of a company — but with that hybrid structure comes its own compliance framework. Audit, annual filings, and partner accountability are governed differently from companies, and getting the rules right is what keeps the LLP in good standing.
Audit under the LLP Act becomes mandatory once turnover crosses ₹40 lakh or partner contribution crosses ₹25 lakh. Independent of that, every LLP — whether audited or not — must file Form 8 (Statement of Account & Solvency) and Form 11 (Annual Return) with the ROC each year. Late filing penalties of ₹100 per day per form, with no upper cap, make compliance lapses uniquely expensive for LLPs.
Our LLP audit practice covers the full annual cycle — statutory audit where thresholds apply, tax audit under Section 44AB where business turnover requires it, Form 8 and Form 11 preparation, partner capital reconciliations, and ROC filings done well before the 30 May and 30 October deadlines. For LLPs planning conversion, restructuring, or strike-off, we also handle the supporting audits.
Audit & Compliance for LLPs
Statutory Audit (LLP Act)
Mandatory audit when turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh — performed in line with LLP Act, 2008 and LLP Rules, 2009.
Tax Audit for LLPs (44AB)
Income-tax audit under Section 44AB where turnover or gross receipts cross the threshold — Form 3CA/3CB with Form 3CD certification.
Form 8 — Statement of Account
Preparation and ROC filing of Form 8 (Statement of Account & Solvency) with designated partner declarations, due by 30 October each year.
Form 11 — Annual Return
Annual Return capturing partner details, contributions, and changes during the year — filed within 60 days of FY end, by 30 May.
Partner Capital & Profit Audit
Verification of partner contributions, drawings, profit-sharing computation, and current account balances as per the LLP agreement.
Conversion Audit
Audit support for conversion of partnership or private limited company to LLP, and reverse conversion to private limited company.
Internal Audit & Process Review
Voluntary internal audit for LLPs in growth or fundraising mode — covering controls, processes, and statutory compliance posture.
Strike-Off & Closure Audit
Audit and statement preparation for Form 24 strike-off applications, dissolution of LLPs, and final partner settlement.
Our LLP Audit Process
Threshold & Scope Review
Assess turnover and contribution to confirm LLP Act audit applicability, plus separate Section 44AB tax audit triggers.
Books & Capital Verification
Review of books of account, partner capital, drawings, profit-sharing entries, bank statements, and prior year balances.
Audit Fieldwork
Substantive testing of income, expenses, statutory dues, and partner transactions — all documented in workpapers.
Form 8 & Audit Report
Audit report, signed financial statements, and Form 8 prepared with designated partner solvency declarations.
ROC E-Filings
Form 11 filed by 30 May, Form 8 filed by 30 October — both well before deadlines to avoid the ₹100/day late filing penalty.
Why LLP Audit Matters
Frequently Asked Questions
No. Audit under the LLP Act, 2008 is mandatory only if the LLP's annual turnover exceeds ₹40 lakh or its total partner contribution exceeds ₹25 lakh in any financial year. LLPs below both thresholds are not required to get accounts audited under the LLP Act, but tax audit under Section 44AB of the Income-tax Act may still apply separately based on turnover.
An LLP must get its accounts audited under the LLP Act if it crosses either of the two thresholds: annual turnover exceeding ₹40 lakh, or total contribution from partners exceeding ₹25 lakh. Once either threshold is crossed, audit becomes mandatory and must be performed by a Chartered Accountant in practice.
Form 8 is the Statement of Account and Solvency that every LLP must file annually with the Registrar, containing the financial position and a solvency declaration by designated partners. Form 11 is the Annual Return capturing details of partners, contributions, and changes during the year. Both are mandatory irrespective of whether the LLP is subject to audit.
Form 11 (Annual Return) must be filed within 60 days from the end of the financial year — that is, by 30 May each year. Form 8 (Statement of Account and Solvency) must be filed within 30 days from the end of six months from the close of the financial year — that is, by 30 October. Audit, where applicable, must be completed before Form 8 filing.
LLP audit is governed by the LLP Act, 2008 and LLP Rules, 2009, with a simpler reporting framework focused on Form 8 and Form 11. Company audit is governed by the Companies Act, 2013 with extensive reporting under CARO 2020, IFC/ICFR opinion, and Schedule III formats. LLP audits do not require CARO or IFC reporting, but tax audit under Section 44AB applies equally to both if thresholds are crossed.
Yes. Tax audit under Section 44AB of the Income-tax Act applies to LLPs on the same terms as other businesses — turnover exceeding ₹1 crore (₹10 crore where cash transactions are below 5%) for business, or gross receipts above ₹50 lakh for professionals. LLP audit under the LLP Act and tax audit under the Income-tax Act are independent requirements and can both apply simultaneously.
Late filing of Form 8 or Form 11 attracts an additional fee of ₹100 per day per form, with no upper cap — making prolonged non-compliance extremely expensive. Designated partners are also personally liable for compliance failures, and persistent default can lead to disqualification, strike-off proceedings by the ROC, and prosecution under the LLP Act.
Only a Chartered Accountant in practice or a firm of Chartered Accountants registered with ICAI can be appointed as the auditor of an LLP. The auditor is appointed by the designated partners, and unlike companies, there is no statutory five-year rotation requirement — though appointment terms are typically agreed in the LLP agreement.
Keep Your LLP ROC-Compliant
Talk to our team about LLP audit, Form 8, Form 11, and Section 44AB compliance — handled together, filed before deadlines, with no last-day penalties.
Talk to an LLP Auditor or call +91 9819 000 511