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

Company Law (en cours)

The duties of the statutory auditor include the legal audit of accounts and other tasks assigned to them by law or regulation . They may also, outside or within the scope of a legal mission, provide services and certifications, in compliance with the provisions of the Commercial Code, European regulations, and the principles defined by the professional code of ethics .
1) Audit of accounts
The sta …

Legal control

The duties of the statutory auditor include the legal audit of accounts and other tasks assigned to them by law or regulation . They may also, outside or within the scope of a legal mission, provide services and certifications, in compliance with the provisions of the Commercial Code, European regulations, and the principles defined by the professional code of ethics .

The statutory auditor's mission is to certify, by justifying their assessment, that the annual accounts are regular and sincere and provide a true and fair view of the results of operations for the past fiscal year as well as the financial position and assets of the company at the end of that fiscal year . To this end, the auditor's report intended for the meeting called to rule on the accounts must specify the identity of the company whose accounts are being certified, indicating the body to whom the report is addressed, the annual or consolidated accounts covered by the report, and the fiscal year to which they relate, the scope of their mission, as well as the professional standards in accordance with which it was carried out; where applicable, significant uncertainties related to events or circumstances that may call into question the continuity of operations . Furthermore, they must declare: either that they certify that the annual or consolidated accounts covered by the report are regular and sincere and provide a true and fair view of the results of operations for the past fiscal year as well as the financial position and assets of the company or the entity or the group of persons and entities included in the consolidation at the end of the fiscal year; or that they refuse to certify the accounts; or that they are unable to certify the accounts. In all cases, they must justify their assessments and specify the reasons for their reservations, refusal, or inability to certify .

On the basis of Article R. 823-8 of the Commercial Code, if several statutory auditors are in office, they may conduct their investigations, verifications, and controls separately, but they must prepare a joint report. In case of disagreement among the auditors, the report indicates the different opinions expressed.

Furthermore, without prejudice to the information obligations resulting from the report he prepares, the statutory auditor's mission to certify the accounts does not consist of guaranteeing the viability or the quality of the management of the company being audited .

Pursuant to Article L. 823-10 of the Commercial Code, the statutory auditor has the ongoing duty, excluding any interference in management, to verify the values and accounting documents of the company for which he is responsible for certifying the accounts and to ensure the compliance of its accounting with the applicable rules. He must also verify the accuracy and consistency with the annual accounts of the information provided in the manager's management report and in the documents sent to the partners regarding the financial situation and annual accounts. He must specifically certify the accuracy and sincerity of the information relating to the remuneration and benefits of any kind paid to each corporate officer. Furthermore, he is required, if applicable, to verify the accuracy and consistency with the consolidated accounts of the information provided in the group management report. The statutory auditor must also ensure that equality has been respected among the partners .

Finally, the statutory auditor is required to report to the next general meeting any irregularities and inaccuracies he has noted during the performance of his duties. He must disclose to the public prosecutor any criminal acts he has become aware of, without his liability being engaged by this disclosure .

The statutory auditor must be convened to any meeting of partners no later than when the partners are convened, by registered letter with acknowledgment of receipt .

Commercial Code, Art. L. 820-1-1, para. 1.

Commercial Code, Art. L. 820-1-1, para. 2.

Commercial Code, Art. R. 823-7, by reference to Art. L. 823-9, para. 4.

Commercial Code, Art. L. 823-12, paras. 1 and 2.

Commercial Code, Art. R. 823-9, paras. 1 and 3.

Company Law (en cours)

404. Legal control

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Les notions juridiques connexes

404. Legal control

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

Les notions juridiques connexes

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