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The Auditor
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Auditors are the only professionals who are legally entrusted with the control of companies. In France the statutory control of accounts mission is defined in the 8th European Directive.
  • It is compulsory to be listed on the official statutory auditors list to practise the profession of auditor. It is illegal to practise the profession without being officially enrolled.
  • The list is established by regional commissions based in their respective main regional appeal courts and these commisions have responsibility to that court.
  • The auditor must respect the legal requirements as well as the professional rules of the National Association of Auditors.

    • All auditors must swear before the court he is reponsible to, the oath to fulfill his professional obligations honourably, and to respect as well as to obtain respect of its laws.
  • The Law as well as his profession's ethical code oblige the auditor to appear and to be independant and thereby to define situations of incompatibility.
  • In order to maintain the high degree of competence and quality his mission requires, each auditor has to devote a certain number of hours a year to his professional training, while supervising that his staff also receive their necessary amount of professional training. He is free to fix his own training programme within the general guidelines of the national council.
  • All advertising of personal services is forbidden to the members of the National Association of Auditors.
  • Professional confidentiality is a statutory requirement for auditors. He has to ensure the protection of all confidential information acquired during his missions.
    He has to ensure that his staff are also aware of and respect this law.
    • Auditors are responsible to third parties for damages caused by mistakes or negligence on their behalf during missions.
    Obliged to appoint at least one Auditor :
    • Companies with a limited number of shares
    • Companies giving loans


    • Companies with over 100 employees, and/or issuing bonds


    • Agricultural associations, with pre-tax turnover of over 76,225 euros


    • Insurance companies


    • Local mixed economy companies


    • Associations benefitting from a minimum of 152,449 euros of public funding


    • Certain associations including sport associations


    • Companies fulfilling public service and common funds assisting company creation


    • Unit trusts (SICAV and common investment funds) and common credit funds


    • Certain dispensers of professional training
    Under the same obligation when exceeding two of the three following criteria :

    Balance total1.53 million euros
    Turnover before tax3.05 million euros
    Average staff50 employees

    • Partnership companies


    • Public limited companies


    • Non-agricultural cooperations


    • Corporate bodies, non profit-making but with economic activity (associations, societies)


    • State-owned organisations in industry or business as well as nationalized companies not subject to public accounting rules
  • Furthermore, auditors are commissioned to intervene on public funds organisations, legal administrators and liquidators, funds used to settle lawyer's fees as well as political parties and groups subject to the obligations of article 11-7 of the 11 march 1988 amended law.
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