French Monetary and Financial Code
In forceAssociations shall report annually on their activities in accordance with the procedures laid down by order in the forms provided for in article D. 452-5.
Associations shall draw up annual accounts. These annual accounts include a balance sheet, a profit and loss account and notes to the accounts in accordance with the accounting principles and methods defined in the French Commercial Code and in the texts adopted for its application, subject to the adaptations made necessary by their legal form or the nature of their activity. The chart of accounts applicable to these associations is approved by an order of the Minister of Justice and the Ministers for the Economy and the Budget, after obtaining the opinion of the French Accounting Standards Authority (Autorité des normes comptables). If justified by particularities of activity, structure or operations, adaptations may be made, in the same manner, to the provisions of this chart of accounts.
The annual financial statements, together with the management report, are submitted to the governing body for approval no later than six months after the end of the financial year, and, where applicable, sent to the statutory auditors at least forty-five days before the meeting at which they are to be approved. This time limit may be extended at the request of the legal representative of the legal entity, by order of the President of the Judicial Court, ruling on a petition.
