Statutory auditor Sharp & Tannan Associates converted into an LLP; audit engagement unchanged
The company's statutory auditor, M/s. Sharp & Tannan Associates, Chartered Accountants, has been converted into a Limited Liability Partnership and will henceforth be known as Sharp & Tannan Associates LLP.
By ScoutQuest · · 1 min read
- Statutory auditor
- M/s. Sharp & Tannan Associates, Chartered Accountants
- New name after LLP conversion
- Sharp & Tannan Associates LLP
- Audit engagement status
- No change in the audit engagement; continues as statutory auditor for the remaining tenure of appointment
What the company informed the exchanges
The company has informed the stock exchange that its statutory auditor, M/s. Sharp & Tannan Associates, Chartered Accountants, has been converted into a Limited Liability Partnership (LLP) under the provisions of the Limited Liability Partnership Act, 2008.
The firm will henceforth be known as Sharp & Tannan Associates LLP, Chartered Accountants. The company was informed of this by the firm itself.
What stays the same
- The company states that there is no change in the audit engagement.
- Sharp & Tannan Associates LLP will continue to function and discharge its obligations as statutory auditor for the remaining tenure of its appointment.
What an LLP conversion means
- A chartered accountancy firm moving from a partnership structure to an LLP is a change in the legal form of the firm.
- It is not, by itself, a change of the auditor appointed by the company. The same firm continues the audit, now as an LLP.
What a retail investor can take away
- This intimation is about the structure of the auditor firm, not about the company's operations or finances.
- The audit relationship with the company remains as before: the firm continues as statutory auditor for the rest of its appointed term.
- Such updates are typically shared with exchanges so that the identity of the auditor on record stays accurate and current.
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