French Business Law - French Legislation

Article L823-16 of the French Commercial code

November 7, 2023

I.-The statutory auditors shall inform, as appropriate, the collegiate body responsible for administration or the body responsible for management and the supervisory body, as well as, where applicable, the specialised committee referred to in Article L. 823-19 acting under the responsibility of these bodies: 1° Their general work programme implemented as well as the various tests they have carried out; 2° The amendments they consider should be made to the…

Article L823-16-1 of the French Commercial code

November 7, 2023

Statutory auditors are released from professional secrecy with regard to the public accountant of a public body when they are responsible for certifying the accounts of that body. Statutory auditors send a copy of their reports certifying the accounts of public bodies with a public accountant to the latter.

Article L823-17 of the French Commercial code

November 7, 2023

The statutory auditors shall be convened to all meetings of the board of directors or the management board and the supervisory board, or of the collegiate administrative or management body and the supervisory body which examine or approve the annual or interim accounts, as well as to all shareholders’ or members’ meetings or to all meetings of the competent body referred to in Article L. 823-1.

Article L823-18 of the French Commercial code

November 7, 2023

I.-The fees of the statutory auditor are borne by the person or entity whose accounts it is responsible for certifying. These fees are set in accordance with procedures determined by decree in the Conseil d’Etat. II.-Where the statutory auditor provides to a public interest entity whose accounts it is responsible for certifying, or to the person that controls it or that is controlled by it within the meaning of I…

Article L823-18-1 of the French Commercial code

November 7, 2023

Disputes relating to the remuneration of statutory auditors shall be referred to the Haut conseil du commissariat aux comptes, without prejudice to the application of the provisions of the fifth paragraph of 2° of II of Article L. 824-1.

Article L823-19 of the French Commercial code

November 7, 2023

I.-Within public interest entities within the meaning of article L. 820-1 and finance companies within the meaning of II of article L. 511-1 of the Monetary and Financial Code, a specialised committee acting under the responsibility, as the case may be, of the administrative body or the supervisory body, shall monitor issues relating to the preparation and control of accounting and financial information. II.-The composition of this committee is determined…

Article L823-20 of the French Commercial code

November 7, 2023

The specialised committee referred to in Article L. 823-19 : 1° Credit institutions and finance companies whose securities are not admitted to trading on a regulated market and which have issued, continuously or repeatedly, only bond securities, provided that the total nominal amount of these securities remains below €100 million and that they have not published a prospectus ; 2° Securitisation undertakings, if they publicly explain why they do not…

Article L823-21 of the French Commercial code

November 7, 2023

The specialised committee or the body performing its functions is bound by an obligation of confidentiality with regard to information relating to: 1° The services provided by the members of the network to which the statutory auditor belongs, mentioned in I of Article L. 820-3; 2° To the findings and conclusions of the High Council referred to in 4° of II of Article L. 823-19.

Article L824-1 of the French Commercial code

November 7, 2023

I.-The penalties provided for in Article L. 824-2, statutory auditors for any disciplinary misconduct they commit. Disciplinary misconduct includes: 1° Any breach of the legal conditions for practising the profession; 2° Any gross negligence and any act contrary to probity or honour. II.-The penalties provided for in article L. 824-3 because of the following breaches: 1° Partners, employees of the statutory auditor, any other person participating in the certification engagement…

Article L824-2 of the French Commercial code

November 7, 2023

I.- Statutory auditors are liable to the following sanctions: 1° Warning; 2° Reprimand; 3° Disqualification from acting as a statutory auditor for a period not exceeding five years; 4° Removal from the list; 5° Withdrawal of honorary status. II.-Auditors may also be subject to the following sanctions: 1° The publication of a statement indicating that the report presented to the general meeting does not meet the requirements imposed by this…

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French Commercial code

Article L823-16 of the French Commercial code

Article L823-16-1 of the French Commercial code

Article L823-17 of the French Commercial code

Article L823-18 of the French Commercial code

Article L823-18-1 of the French Commercial code

Article L823-19 of the French Commercial code

Article L823-20 of the French Commercial code

Article L823-21 of the French Commercial code

Article L824-1 of the French Commercial code

Article L824-2 of the French Commercial code

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French Commercial code

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We Solve Legal & Tax Issues in France

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