Subsection 2: Statutory auditors

Each credit institution, finance company or investment firm is audited by at least two statutory auditors, under the conditions defined in Book VIII of the Commercial Code. These statutory auditors must not represent or belong to firms with legal, professional, capital or organisational links between them. They carry out their activities under the conditions set out in Book VIII of the Commercial Code and certify the annual accounts. They verify…

I. – The provisions of articles L. 225-38 to L. 225-43 of the French Commercial Code apply to all credit institutions and finance companies. For the application of article L. 225-40 of the same code, when these credit institutions or finance companies do not have a general meeting, the special report of the statutory auditors is submitted to the Board of Directors for final approval. Where these credit institutions or…