In order to register a limited liability partnership (LLP), a professional accounting firm (PAF) must first be registered with CPA Alberta. Please click here for additional information on how to register a PAF.
CPA Alberta must approve the LLP before you can register the LLP with Corporate Registry.
What Limited Liability Partnerships (LLPs) Do
Under the Partnership Act, LLPs protect the personal assets, such as houses and RRSPs, of non-negligent public accountants. Each partner in an LLP is liable for their own negligence. However, a non-negligent partner’s personal assets would not be exposed to the debt and liabilities of the partnership if negligence, wrongful acts or omissions, malpractice or misconduct occurs as a result of another partner. All partners are responsible for all other debts and liabilities of the partnership.
What LLPs Do Not Do
LLPs do not:
- absolve persons from liability;
- protect the personal assets of partners who are negligent, commit wrongful acts, make omissions, or engage in other acts of malpractice or misconduct in carrying on their accounting practice;
- protect the assets of the partnership, including the professional indemnity insurance; and,
- affect the size of any damages that can be assessed for negligence or other inappropriate conduct.
To Register as an LLP
Professional Accounting Firms (PAFs) that would like to register as LLPs must:
- Obtain a certificate from CPA Alberta;
- Register with the Government of Alberta through Corporate Registry;
- Finalize Registration with the Chartered Professional Accountants of Alberta (CPA Alberta); and
- Send Notice to Clients.
For complete LLP registration details, including Extra-Provincial LLP registration, click here.
A LLP Registration application is available upon request by sending an email to PAF@cpaalberta.ca.
To Cease or Amend the Registration of an LLP
To cease or amend the registration of an LLP, please email your request to PAF@cpaalberta.ca.