Statutory audit

Our profession

Statutory audit

In 10 key points :

  1. They operate as a self-employed professional, in a firm, in their own name or in the form of a company.
  2. They are independent, and although paid by the company, they are external to it.
  3. They are nominated by the organisation’s decision-making body for a period of six financial years, either because of a legal obligation, or on a voluntary basis.
  4. They take an oath before the Court of Appeal.Commissariat aux comptes
  5. They are bound by professional secrecy.
  6. They have a strict code of ethics.
  7. They are required to conduct a mandatory quality review of files.
  8. They are required to undergo mandatory ongoing training.
  9. They assume full civil, penal and professional liability.
  10. The institution to which they are belong is the Ministry of Justice.

A statutory auditor ensures great accountability for certification of accounts, and their audit is subject to principles of independence and ethics.
Statutory auditing is a regulated and independent profession that contributes to the quality and transparency of financial and accounting information issued by audited entities.

The statutory auditor’s assignment occurs within a legal framework, and its aim is to issue an opinion about the financial statements produced by an economic entity. To achieve this goal, the statutory auditor carries out an audit.

After their diagnosis, they draw up a opinion on the quality of the accounts produced by the company. Their goal is to obtain assurance that no significant irregularity appears in the accounts. Their assignment is for a period of 6 financial years on a permanent basis.

The procedure

To form their opinion about the accounts, the statutory auditor carries out an audit applying the professional standards accredited by the Minister of Justice, Keeper of the Seals, after consultation with the Haut Conseil du Commissariat aux Comptes [France’s supervisory body for auditors] and on a proposal by the CNCC [National Company of Statutory Auditors]. These are aligned with international standards.

The assignment

The audit by the statutory auditor is subject to principles of independence and ethics. It is a service of general interest.

Their a consist in :

  • Giving an opinion about the regularity and fairness of the annual and consolidated accounts, and checking the fairness and consistency with the annual accounts of the financial information provided to the general assembly,
  • Ensuring the sustainability of the entity with a view to preventing economic difficulties, in particular through an “alert” procedure,
  • Reveal to the the public prosecutor any criminal offences that have come to their knowledge, in order for the audited entity to respect its legal and regulatory obligations.

Certain types of operations may be attached to their duties (directly related services called “DDL”):

  • Audit
  • Limited review
  • Alternatives
  • Agreed procedures
  • Consultations
  • Acquisition procédures
  • Sales procédures
  • RSE (social and environmental responsibility)

We adapt to your specific requirements, with the same demand for quality of service as always.
As a special advisor, we encourage the implementation of audit committees, and can assist you with your financial disclosure. We can also be appointed for special tasks and other legally-required operations.