Internal Accounting and Auditing Actions

Each business partner has the right to be fully informed of their partners’ activities related to the partnership, regardless of their percentage of ownership. This also gives partners the absolute right to review the financial records of a business partnership at any time.

A partner may request a review of the partnership’s books if they suspect unfair payouts, hidden profits or losses, theft of opportunity, or for any other reason related to the partnership.If a partner requests an accounting update but is denied, they can sue. In fact, the denial itself is a breach of fiduciary duty  and could indicate further misconduct by other partners.