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The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016
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- UK Statutory Instruments
- 2016 No. 575
- PART 2
- Regulation 7
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Annual accounts to give true and fair viewU.K.
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7.—(1) Regulation 8 (annual accounts to give true and fair view) is amended as follows.
(2) In section 393 (accounts to give true and fair view), after subsection (1) insert—
“(1A) Subsection (1B) applies to the members of an LLP which qualifies as a micro-entity in relation to a financial year (see sections 384A and 384B) in their consideration of whether the non-IAS individual accounts of the LLP for that year give a true and fair view as required by subsection (1)(a).
(1B) Where the accounts contain an item of information additional to the micro-entity minimum accounting items, the members must have regard to any provision of an accounting standard which relates to that item.”.
Commencement Information
I1Reg. 7 in force at 17.5.2016, see reg. 2(1)
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