PART 11APPOINTMENT OF AUDITORS

Fixing of auditor remuneration37

Section 492 applies to LLPs, modified so that it reads as follows—

Fixing of auditor's remuneration492

1

The remuneration of an auditor appointed by the LLP must be fixed by the designated members or in such manner as the members of the LLP may determine.

2

The remuneration of an auditor appointed by the Secretary of State must be fixed by the Secretary of State.

3

For the purposes of this section “remuneration” includes sums paid in respect of expenses.

4

This section applies in relation to benefits in kind as to payments of money.