Auditors have a general duty to control and monitor the accounts of an organisation to the benefit of its shareholders or members, but also any person who has assessed the financial situation of that company. Only physical or artificial persons included in a special list, held in the jurisdiction of each court of appeal, are allowed to carry out this function.
Auditors and their assistants are appointed by the annual general meeting for a period of six financial years, or appointed in the articles of association. The tasks and responsibilities of an auditor are kept separate from those of the company directors.
Ultimately, an auditor’s obligation concerns the means, and not the end. He does not have to look for errors or irregularities, but rather implement motions to form a reasonable and balanced opinion.
The role of an auditor therefore has three pillars:
- An auditor monitors annual accounts to verify that they are correct and truthful and that they faithfully reflect the result of the asset and financial situation of the company. He presents his conclusions to the company’s shareholder in an audit report.
- An auditor can raise alert proceedings if he discovers anything while carrying out his duties that may compromise the continuity of operations.
- Auditors are also occasionally involved in particular tasks required by law (asset auditing, alteration, mergers, capital increases, compliance reviews, certifications, accounts, forecasts etc.)
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