ICAI Introduces Aggregation of LLPs Guidelines 2024

The Institute of Chartered Accountants of India (ICAI) has issued the “ICAI (Aggregation of LLPs) Guidelines 2024”, effective from the date of notification in the Gazette of India i.e. 23.01.2025. These guidelines provide a framework for Chartered Accountant (CA) LLPs to collaborate by forming structured partnerships while ensuring compliance with the “Chartered Accountants Act, 1949”, and other applicable laws.

The guidelines allow LLPs with over 50% practicing CAs to form or join a parent LLP, establishing governance, compliance, and audit restrictions. They also introduce the “Doc Locker” for secure document management. A key provision is the prohibition of corporate entities as partners in a parent LLP, in accordance with the Chartered Accountants Act, 1949. These guidelines aim to foster collaboration while maintaining professional integrity.

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