French Commercial code
In forceTo be registered on the list of statutory auditors, a company must meet the following conditions:
1° The majority of the company's voting rights are held by statutory auditors or firms of statutory auditors registered on the list provided for in I of Article L. 822-1 or statutory auditors duly approved in another Member State of the European Union. Where a company of statutory auditors holds a stake in the capital of another company of statutory auditors, shareholders or partners who are not statutory auditors may not hold more than a majority of the total voting rights of the two companies;
2° The functions of manager, chairman, chairman of the board of directors or management board, sole managing director, chairman of the supervisory board, managing director and deputy managing director are performed by statutory auditors registered on the list provided for in I of Article L. 822-1 or duly approved in another Member State of the European Union to carry out statutory audits;
3° At least the majority of the members of the management, administrative, management or supervisory bodies must be statutory auditors registered on the list provided for in I of Article L. 822-1 or duly approved in another Member State of the European Union to carry out statutory audits. The permanent representatives of companies of statutory auditors who are partners or shareholders must be statutory auditors registered on the list provided for in I of Article L. 822-1 or duly approved in another Member State of the European Union to carry out statutory audits.
