TITLE II: Statutory Auditors.

The files and documents drawn up by the statutory auditor pursuant to article R. 823-10 are kept for six years, even after termination of office. For the purposes of audits and investigations, they are kept at the disposal of the supervisory authorities, which may request from the statutory auditor any explanations and justifications they consider necessary concerning these documents and the transactions that must be mentioned therein.

Persons with an accounting or financial background, at least three years’ professional experience in the field of account certification and financial reporting and specific training in quality control in these areas may be appointed as auditors.

Before carrying out audit operations, auditors declare to the High Council or, in the event of delegation, to the Compagnie nationale des commissaires aux comptes, that they are not in a situation of conflict of interest with the statutory auditor they are responsible for auditing. They may not audit a statutory auditor if, during the previous three years, they have been a partner, employee or collaborator of that statutory auditor.

The inspections referred to in Article L. 821-9 are carried out on the basis of a risk analysis. In particular, they cover: 1° Certification assignments selected by the auditor. In particular, the auditor shall verify compliance with the rules of independence, compliance with the standards referred to in I of Article L. 821-13, the adequacy of the resources allocated to carrying out the assignments and the fees received by the…