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For example, in France, public limited liability companies (SAs) and limited liability companies (SCAs) must appoint an auditor, who is an external auditor, to carry out the review of the annual accounts. Similarly, companies that exceed certain turnover or headcount thresholds are also subject to this obligation.
In general, the requirement to appoint an external auditor aims to enhance the transparency and reliability of financial information provided by the company, as well as to protect the interests of stakeholders such as shareholders, creditors, employees and customers.
However, even where the appointment of an external auditor is not mandatory, some companies may choose to do so to enhance the quality of their audit process and to benefit from an external and impartial view of their financial situation
Thresholds:
In France, public limited liability companies (SAs) and limited liability companies (SCAs) are obliged to appoint an auditor if they exceed
two of the following three criteria for two consecutive years: a turnover exceeding EUR 8 million, a balance sheet total exceeding EUR 4 million and an average staff of 50 employees.
In the United Kingdom, companies that exceed two of the following three criteria for two consecutive years must appoint an external auditor: a turnover of more than £10.2 million, a balance sheet total of more than £5.1 million and an average of 50 employees.
In the United States, the thresholds depend on the size of the company and the nature of its activities. For example, companies that have publicly traded shares are required to appoint an external auditor if they have annual revenues above $75 million.
In the European Union, the European Accounting Directive requires Member States to set thresholds for the obligation to appoint an auditor. These thresholds vary from country to country and from company to compan
Our advisors:
We work on legal and contractual audit missions of listed companies, ETIs, SMEs, family groups, associations, banks, financial management companies, investment funds in different sectors of activity.
One of the characteristics of the approach that we are developing is the constant search for simplicity and efficiency, so that the proposed solution remains suited to the objectives and means of human-scale structures, while providing real added value.