Rule 505, Form of Organization and Name, prohibits CPA firms from practicing as limited liability partnerships.

Name: Rule 505, Form of Organization and Name, prohibits CPA firms from practicing as limited liability partnerships.
Brand: Quizplus
Rating: 4.9 (45 reviews)

Question

Quizplus · Accepted Answer

Rule 505 does not prohibit CPA firms from practicing as limited liability partnerships. However, it does require that the firm's name must indicate the firm's legal form (e.g. "Smith & Jones, LLP").

Rule 505, Form of Organization and Name, Prohibits CPA Firms