Ireland Considers Limited Liability Partnerships

In November 2004, Northern Ireland passed legislation recognizing LLPs as a legal form. Ireland does not as of yet recognize the entity, but it appears that could change soon. Ireland’s “2005 Companies Report,” published this week, includes a statement from Michael Ahern, Minister for Trade and Commerce, announcing that he has asked the Company Law Review Group to consider “the issue of Limited Liability Partnerships and other reforms to Partnership which may be appropriate” when the group completes its consideration of another piece of companies legislation. The Company Law Review Group is an expert group that advises Ireland’s Minister for Enterprise, Trade & Employment on the development of company law in Ireland.

To read an article about support for the legislation from accountant groups who would like to eliminate the current unlimited liability for auditors, go here.

[Gregory Duhl]