Tasks of statutory auditors in public limited companies and limited liability companies

The statutory auditor certified that the consolidated accounts are regular and accurate and give a fair view of operations of the previous fiscal year as well as the asset base and financial situation of the company at the end of the fiscal year.

The statutory auditor has a permanent task to verify the figures and accounting records of the company and control the compliance of the accounting to the existing rules.

The statutory auditor verifies the accuracy and concordance of the information presented in the consolidated accounts in the management report from the board of directors or executive board and in the other documents sent to the shareholders.

The statutory auditor ensures that equal treatment among the shareholders has been respected (respectful between partners).

The statutory auditor has access to general meetings and be informed at the same time as the shareholders (associates).

LPG France is a member of the national auditing body (CNCC) in Paris and realizes all the tasks of statutory auditors in Paris and Ile-de-France.


Which are the companies forced to nominate a statutory auditor?

Amongst the most common of companies or group of companies that are required to nominate a statutory auditor, there are:

  • Public limited companies and partnerships partly limited by shares are required to appoint a statutory auditor;
  • Simplified joint stock companies, group member, or exceeding 2 of 3 criteria mentioned below, are obligated to appoint a statutory auditor while the others are exempt starting on January, 1 2009 ( art.L. 227-9-1 introduced by the French Act, art.59-6°).

               1) Balance sheet total above 1.000.000 EUR
               2) Turnover above 2.000.000 EUR
               3) Average number of employee above 20

  • Limited liability companies and partnerships will forced to nominate a statutory auditor when 2 at least 3 following criteria:

               1) Balance sheet total above 1.550.000 EUR
               2) Turnover above 3.100.000 EUR
               3) Average number of employee above 50


Companies involved can choose their statutory auditor freely. The name of the first statutory auditors will be in the publications carried out after the creation of the company.

The statutory auditor is elected normally for 6 years and he can be re-elected.

LPG Paris is chartered accountant in Paris, it is LPG France who that carries out statutory auditor tasks in Paris and Ile-De-France and statutory auditor in France for companies.