CCAB published an updated draft Statement of Recommended Practice (SORP) on accounting by Limited Liability Partnerships (LLPs) for comment on 2 August 2018.
The SORP applies UK generally accepted accounting practice (GAAP) to LLPs incorporated in the UK and the Republic of Ireland. The changes will be effective for financial years beginning on or after 1 January 2019. In accordance with the FRC’s Policy and Code of Practice, CCAB, as a SORP making body, is required to publish the responses that it receives.
The responses are listed below and can be accessed through the links that are provided: