All of French Company Law: ordinary law of companies and specific regime for different types of companies

Company Law (en cours)

SNCs that exceed, at the close of the fiscal year, two of the following criteria must appoint one or more statutory auditors: a total balance sheet of EUR 4,000,000, a net turnover of EUR 8,000,000, and an average number of fifty employees . The term of office must extend over six fiscal years, and its functions expire after the deliberation of the general meeting or the competent body that rules  …

Crossing of thresholds

SNCs that exceed, at the close of the fiscal year, two of the following criteria must appoint one or more statutory auditors: a total balance sheet of EUR 4,000,000, a net turnover of EUR 8,000,000, and an average number of fifty employees . The term of office must extend over six fiscal years, and its functions expire after the deliberation of the general meeting or the competent body that rules on the accounts of the sixth fiscal year .

The obligation to appoint ceases as soon as the company does not exceed the figures set for two of these three criteria during the two fiscal years preceding the expiration of the statutory auditor's term . Furthermore, based on the first paragraph of Article L. 221-9 of the Commercial Code, the partners have the option to freely appoint one or more statutory auditors.

Finally, even without reaching the thresholds set by the legislator, the appointment of a statutory auditor may be requested in court by a partner . In this case, the appointment is made by a judgment of the president of the commercial court who rules according to the expedited procedure on the merits . Furthermore, companies must appoint a statutory auditor for a term of three fiscal years if one or more partners representing at least one-third of the capital make a motivated request to the company . In this case, the appointment is also made by a judgment of the president of the commercial court who rules according to the expedited procedure on the merits.

Whether it is mandatory or optional, the appointment of the statutory auditor may result either from a unanimous vote of the partners or from a vote by a majority set by the statutes, based on the first paragraph of Article L. 221-6 of the Commercial Code . The manager who does not initiate the appointment of the statutory auditor once the company exceeds two of the criteria set by the legislator is subject to a penalty of two years' imprisonment and a fine of 30,000 euro .

Commercial Code, Art. L. 221-9, para. 2 and D. 221-5, para. 1.

By reference to Article L. 221-9, para. 1 of the Commercial Code.

Company Law (en cours)

403. Crossing of thresholds

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Les notions juridiques connexes

403. Crossing of thresholds

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Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise