Limited Liability Partnerships Manual

• Guidance notes that provide you with essential background knowledge on the key aspects of LLPs and the relevant legal framework within which they operate. They cover the key aspects of the LLP SORP and of members' agreements.
• Example engagement letters for both audit (including groups) and audit exempt LLPs. There is also an example letter of representation. A group audit questionnaire is also included, along with a group audit instruction letter.
• Example auditor's reports (including groups) and accountant's reports, along with a statement of members' responsibilities.
• Example pro-forma accounts for full FRS 102, FRS 102 1A (both full and abridged) and FRS 105 (micro-entity).
• LLP accounts disclosure checklists for small (FRS 102 1A) and not small (FRS 102) LLP accounts are included, as is a checklist for micro-entity (FRS 105) accounts.
• Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance to an audit or audit exempt assignment over a number of years.
• LLP specific current file documentation comprising of two separate packs of documentation for audit (including groups) and audit exempt assignments. The audit documentation provides you with the planning, completion and detailed work programmes needed to undertake both a single entity audit and a group audit. Lead schedules and a current file index are also included. The audit exemption documentation provides you with the planning, completion and work programmes needed to provide an accountant's report on LLP accounts.
• Supplementary forms that provide additional resources that may be useful for certain scenarios.

May 2026
The principal technical changes in this update include revisions to reflect the:

• September 2024 edition of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
• LLP SORP - Accounting by Limited Liability Partnerships (published in 2025, but referred to by the CCAB as SORP 2026).

September 2025
The principal technical changes in this update include:

• The new size criteria for LLPs; and
• Additional support for those utilising Audit Data Analytics (ADA) within their audit work.
  

January 2025
The principal technical changes in this update include:

• Enhancements to the example letters; and
• Enhancements to component auditor workpapers.

October 2024
The principal technical changes in this update include revisions to reflect the updates to the LLP SORP which is effective for periods commencing on or after 1 July 2024, although early adoption is permitted.

June 2024
The principal technical changes in this update include:

• Revisions in accordance with the FRC's Revised Ethical Standard;
• Changes to ISA 505 External Confirmations; and
• Best practice amendments. 

All prices are subject to VAT. Prices are subject to change on 1 July.

Mercia online manuals are updated regularly by our technical staff and you will be notified of any significant regulatory changes by email. 

Your subscription will automatically auto-renew on anniversary date, you will be notified by email before your subscription expires and offered the option to opt out of auto-renewal.

System Requirements

• Internet access. 
• Operating System: Windows, Mac IOS. 
• Applications: Full version of Microsoft Office or Mac equivalent, PDF Reader.