Subsection 2: Certification of accounts

The standard of professional practice relating to the use of the work of a chartered accountant intervening in the entity, approved by the Minister of Justice, is shown below:

PROFESSIONAL PRACTICE STANDARD RELATING TO THE USE OF THE WORK OF A PUBLIC ACCOUNTANT INTERVENING IN THE ENTITY

Introduction

1. Pursuant to the provisions of article L. 823-14, the statutory auditor may obtain any information relevant to the performance of his duties from third parties who have carried out transactions on behalf of the person or entity, and may use work carried out by a chartered accountant at the request of the entity. Their use then obviates the need for the statutory auditor to carry out the same work, if necessary.

2. The purpose of this standard is to define the principles relating to the use of the work of a chartered accountant by the statutory auditor.

Getting to know the entity and its environment and planning

3. When getting to know the entity and its environment, the statutory auditor :

- analyses the nature and scope of the engagement that the entity has entrusted to the statutory auditor;

- assesses the extent to which he will be able to rely on the work performed by the statutory auditor to reach conclusions on which to base his opinion on the financial statements.

4. In order to do this, the statutory auditor contacts the chartered accountant to find out about the content of the assignment entrusted to him and, if he considers it necessary, has the work carried out communicated to him.

Evaluation of the chartered accountant's work

5. When deciding to use the work of the chartered accountant, the statutory auditor assesses whether it constitutes sufficient and appropriate evidence to contribute to the formation of his opinion on the financial statements.

6. On the basis of this assessment, the statutory auditor determines the additional audit procedures whose implementation seems necessary to obtain the sufficient and appropriate elements sought.

Reference to the work of the statutory auditor in the report

7. The expression of the opinion issued by the statutory auditor does not refer to the work of the chartered accountant. This work is used solely as evidence collected in support of the statutory auditor's conclusions on his own engagement.

Documentation

8. The statutory auditor documents in his file the work carried out by the chartered accountant that he uses in the context of his engagement.