Subsection 2: Certification of accounts

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Article A823-22

French Commercial codeIn force
Ask for lawyer reviewed or certified translation

Updated 3 Nov 2023

The professional practice standard relating to information on previous financial years, approved by the Minister of Justice, is shown below:

PROFESSIONAL PRACTICE STANDARD CONCERNING INFORMATION RELATING TO PREVIOUS FINANCIAL YEARS

Introduction

1. The indication of information relating to previous financial years in the accounts for the past financial year is provided for by legal and regulatory texts.

2. The purpose of this standard is to define the audit procedures that the statutory auditor performs to verify that the legal and regulatory texts applicable to information relating to prior years have been correctly applied.

3. In addition, it defines the impact on the auditor's opinion of material misstatements that it has identified and that affect the comparability of the information relating to prior years with the accounts for the past financial year.

Procedures carried out by the statutory auditor in respect of information relating to prior years

4. In the absence of any accounting change likely to lead to an adjustment or restatement of the information relating to previous financial years, the statutory auditor verifies that, in application of the applicable accounting standards:

- the amounts shown in the financial statements for previous financial years, including where applicable in the notes, have been correctly reported;

- narrative information relating to previous financial years, where necessary for a proper understanding of the financial statements for the past financial year, has been included.

5. When the accounts for the financial year are affected by an accounting change that may lead to an adjustment or restatement of the information relating to previous financial years, the statutory auditor applies the principles defined in paragraph 4 of this standard and the principles defined in the professional practice standard relating to accounting changes.

6. Where the accounts for the previous financial year have not been audited by the statutory auditor acting in respect of the first year of his mandate, he shall also apply the principles defined in the professional practice standard relating to the audit of the opening balance sheet for the first financial year certified by the statutory auditor.

7. When the statutory auditor has identified anomalies in the preparation or presentation of information relating to previous financial years, he shall inform management and request that it amend this information.

Impact on opinion

8. In accordance with the provisions of article L. 823-9, the opinion expressed by the statutory auditor relates only to the accounts for the past financial year.

9. Where the statutory auditor has identified material misstatements in the preparation or presentation of information relating to previous financial years that affect its comparability with the accounts for the past financial year, and where management refuses to amend this information, he shall assess the impact on his opinion.

Mariela Petrova

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Common Questions

Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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