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Accounting Standards Board
The Institute of Chartered Accountants of India
7th February, 2023
Exposure Draft of Guidance Note on Financial Statements of Limited Liability Partnerships for comments

The Accounting Standards Board (ASB) of the ICAI in June 2022 had issued Technical Guides on “Financial Statements of Limited Liability Partnerships” to deal with applicability of Accounting Standards and recommending formats of the financial statements to these entities. The ASB has now proposed to prescribe the formats for presentation of financial statements of these entities in the form of Guidance Note. The objective of proposed Guidance Note is to further ensure that these formats of financial statements are followed to achieve standardisation and enhance the quality of the financial reporting by these entities.

The Exposure Draft of Guidance Note can be assessed at the following link for comments with the last date of comments being March 8, 2023:

Comments on the abovementioned Exposure Draft may be submitted through any of the following modes:

1. Electronically: Click on to submit comment online (Preferred method)
2. Email: Comments can be sent to:
3. Postal: Secretary, Accounting Standards Board,
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi 110 002

Further clarifications on the Exposure Draft may be sought by e-mail to

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