IFAC members and associates have provided self-assessment information about the regulatory and standard-setting framework in their countries (Part 1) and their organizations' activities in addressing IFAC's membership requirements (Part 2) as described in the Statements of Membership Obligations. Based on an analysis of this information, they are developing SMO Action Plans for continuous development and improvement.

Some organizations have qualified to submit SMO Action Plans on a biennial basis by meeting eligibility criteria. These organizations are indicated with an asterisk (*).

In the interest of transparency and providing information to the profession, regulators, and other stakeholders, all responses and SMO Action Plans are accessible below.

Conseil Supérieur de l'Ordre des Experts-Comptables

Introduction

The information below has been submitted as part of the IFAC Member Body Compliance program. The Program has two components:

Part 1:	Assessment of the Regulatory and Standard-Setting Framework (provides information about regulatory requirements and standard-setting processes in member body countries); and
Part 2:	Assessment of Compliance (provides information on compliance by member bodies with the Statements of Membership Obligations). Part 2 of the Compliance Program will begin later this year, and the results will also be posted to the website.

The responses to Part 1 are provided below. IFAC staff has reviewed the responses and, where necessary, validated them with external knowledgeable parties. A list of key terms is available to assist readers in understanding the responses.

The purpose of this Part 1 Assessment is to collect information on the roles of IFAC member bodies and other organizations (including government, regulatory or other appointed authorities) with respect to:

Setting auditing, accounting, ethics, public sector and education standards; and
Regulating the accountancy profession.

Sections 1 and 2 of Part 1 contain an introduction and instructions for member body respondents. For this reason, they are not included here, and the responses begin with Section 3.

Questions or comments may be sent to complianceassessment@ifac.org.

Section 3 -- Member Body General Information

1. Country:

FRANCE

2. Name of member body:

Conseil Supérieur de l'Ordre des Experts-Comptables

Or please specify name:

3. Individual responsible for preparation:

Henri GIOT

4. Date member body became a member of IFAC:

Note: Please enter a numeric date (e.g., 12/2001, Month/Year)

01 / 1977

Questions 5 - 22 are for internal use only

Section 3G -- Affiliations

23. Please list those regional organizations to which your organization belongs (e.g., FEE, CAPA, ECSAFA, IAA, etc.):

FEE Fédération des Experts comptables Européens
CILEA Comité de Integracion Latino Europa America
CAPA Confederation of Asian and Pacific Accountants
FCM Fédération des Experts comptables Méditerranéens
FIDEF Fédération Internationale des Experts Comptables Francophones

Section 4 -- Statutory Framework

Responses to this section will provide a description of the legal framework governing the commercial aspects of auditing and financial reporting in your country.

Section 4A -- The Companies Act or Commercial Code

The following questions concern the Companies Act (the Act) or Commercial Code (the Code) or similar Legal authority in your country. If no Legal authority exists, or the Legal authority does not address particular questions, please indicate "N/A" for Not Applicable.

24. What is the full name of:

a). the Act or the Code:		CODE DE COMMERCE
b). the Enacting body:		Parliament and Ministry of Justice
c). date the Act or Code came into force:		08 / 2003

25. How can IFAC obtain a copy of the Act or Code?

Additional information re Question 24c: The Code of Commerce came into force in 1807 and is continuously updated. Several amendments have been made since this date. Amendments introduced by the LSF (law on financial security)in August 2003 relate only to legal auditors. On the website of the French Government: www.legifrance.gouv.fr

26. Is the Act or Code available in English?

Yes

27. What are the types of entities covered by the Act or the Code?

Please check all that apply.

	Listed entities					Other (please specify): The Code of commerce applies to any person making customarily commercial operations, either sole entrepreneurs or companies.
	Private companies					Other (please specify):
	Governmental					Other (please specify):
	Not-for-profit					Other (please specify):

28. Is there a requirement for the following entities to prepare annual statutory financial statements? If YES, please describe the financial reporting requirements including the accounting standards to be followed.

Please check all that apply.

	No	Yes	(If YES, please describe)
Listed entities			Code de Commerce and Plan comptable général;Law and, particularly the Commercial Code for commercial entities (listed or not), require the entities selected above to prepare annual accounts comprising the balance sheet, profit and loss account and notes to the accounts. These entities have also to prepare consolidated financial statements and a group annual report where they exclusively or jointly control one or more subsidiaries or joint ventures and/ or where they have significant influence over these. The accounting standards to be applied by the commercial entities (listed or not) are the National accounting Code (Plan comptable général - PCG - CRC n° 99-03) (English version available on the website www.finances.gouv.fr/reglementation/avis/avisCNCompta/) and the regulation n° 99-02 of the 29 of April 1999 (Accounting Regulatory Committee) relating to consolidated financial statements. For the other entities, special accounting standards are established by the Accounting Regulatory Committee (website: www.finances.gouv.fr/CNCompta/) and the Banking and Financial Regulations Committee (website: www.banque-france.fr/) approved by ministerial orders. Special accounting standards can be also established by governmental acts
Private companies			See above
Governmental			See above
Not-for-profit			Regulation n° 99-01 (16/02/1999) - www.finances.gouv.fr/CNCompta/
Other (please describe) Sole entrepreneurs			Code of Commerce
Other (please describe)

29. Is there a statutory requirement for the following entities to be audited? If YES, describe the requirement including the auditing standards to be followed:

Please check all that apply.

	No	Yes	(If YES, please describe)
Listed entities			Yes for all entities, except those under the two following thresholds (except for some private companies) : turnover : 3,100,000 euros ; total asset : 1,550,000 euros ; number of employees : 50. The conduct of an audit is required by the French law (article L 225 - 235 and following of the Code de Commerce) ; the auditing standards to be applied are those issued by CNCC and complying with the IAASB standards for the audit ; CNCC issues specific standards when specific requirements are to be applied by the French law. As a result of recently issued legislation, those standards will be endorsed by the Minister of Justice. It should be noted that international auditing standards issued by IAASB should be required at European level according to the 8th company law directive, which is currently being reviewed by the European Commission.
Private companies			See above
Governmental			See above
Not-for-profit			See above
Other (please describe)
Other (please describe)

30. Are the auditors ("statutory auditors") that are appointed for audits required by the Act or Code ("statutory audits") appointed for a specific period?

Yes

If YES, please indicate the term of appointment:

6 Year(s)

31. Who appoints the statutory auditors?

Please check all that apply.

	Shareholders					Management
	Board of directors					Other (please specify): NFP organisations : body approving the financial statements
	Audit committee					Other (please specify): state owned agencies : government
	Government agency					Other (please specify):

32. Does the Act or Code require joint auditors for the statutory audit?

Yes

If yes, please describe the requirement:
Only for entities presentng consolidated accounts

33. Does the Act or Code require the rotation of the auditors or audit firms performing statutory audits?

Yes

If yes, please describe the requirement:
See art L822-14 of Code of Commerce. Rotation after 6 years period is compulsory for individual auditors and engagement partner when an audit firm has been appointed

Section 4B -- Securities Market Regulations

Responses to this section will provide a description of the financial reporting and auditing requirements for listed entities in your country.

34. What are (a) the major items of Legal authority for such requirements, (b) the Enacting body(ies) and (c) the latest amendment date? Please identify the specific articles or sections that pertain to auditing and financial reporting:

the major items of Legal authority for such requirements

CODE MONETAIRE ET FINANCIER (Monetary and Financial Code)
the Enacting body(ies)

Parliament and Ministry of Finance
the latest amendment date?

August 2003 (Law n° 2003-706 of August 1, 2003) : law on financial security

35. How can IFAC obtain a copy of the Legal authority?

Through government webste www.legifrance.gouv.fr

36. Is the Legal authority available in English?

Yes

37. Are there any additional or alternative financial statement reporting requirements for listed entities that are not described in your answer to Question 28?

Yes

If YES, please describe the requirement:

38. Are there any additional auditing requirements that apply to listed entities other than those described in your answer to Question 29 (e.g., additional GAAS requirements, additional independence requirements, requirements to report to those charged with governance, etc.)?

Yes

If YES, please describe the requirement:

39. Who appoints the statutory auditors of listed entities?

Please check all that apply.

	Shareholders			Management
	Board of directors			Other (please specify):
	Audit committee			Other (please specify):
	Government agency			Other (please specify):

40. Are auditors who perform audits of listed entities appointed for a specified period?

Yes

If YES, please indicate the term of appointment:

6 Year(s)

41. Are joint auditors required for audits of listed entities?

Yes

If YES, please describe the requirement:

The only criteria for joint audit is related to issuance of consolidated accounts. However, most listed companies issue consolidated accounts and are therefore subject to joint audit.

42. Is rotation of the auditor or audit firm for audits of listed entities required?

Yes

If YES, please describe the requirement:

See answer to question 33

Section 5 -- Auditing Standards

Responses to this section will provide a description of the legal and professional framework governing audit and other assurance standards in your country. The section focuses on the establishment of such standards. Please indicate the role your organization plays within this framework.

Section 5A -- Statutory Framework

43. Please provide the name of the Legal authority and/or self-regulatory rules that establish audit and other assurance standards in your country, the date of the last amendment of such authority or rules and the name of body responsible for setting audit and other assurance standards. If the standards are different for different entities (e.g., listed entities, private companies, governmental bodies, not-for-profit organizations, etc.), please specify the details that apply to each:

Type of entity	Name of applicable legal authority	Date of last amendment (e.g. MM/YYYY 06/2001)	Name of body responsible for setting audit and other assurance standards
Listed entity	CODE OF COMMERCE	O8/2003	Statutory audit : CNCC/ contractual audit : CSOEC
Other (please describe) Other entities subject to statutory audit	CODE OF COMMERCE	08/2003	Statutory audit : CNCC/ contractual audit : CSOEC
Other (please describe)
Other (please describe)

Directly from CNCC and CSOEC

Yes

Section 5B -- Standard-Setting (Statutory audit : CNCC/ contractual audit : CSOEC)

44. For Statutory audit : CNCC/ contractual audit : CSOEC, please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

See CNCC response for answers to Questions 44-54

�normes professionnelles�

45. How many voting members does the standard-setting body have?

46. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

47. What are the criteria considered in selecting members of the standard-setting body (e.g., best person for the job, sector of the profession, private and public members, academic, geographical representation, etc.)?

48. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

49. What is the term of appointment for members?

Year(s)

50. For how many years has the standard-setting body been in existence?

Year(s)

51. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

52. To what entity is the standard-setting body accountable?

53. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards
accessibility of meetings (i.e., public or private)
approval process for final standards (i.e., majority required to approve final standards)
other relevant due process activities

None

54. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

Day(s)

Section 6 -- Ethics

Responses to questions in this section will provide a description of the legal and professional framework governing ethics standards for accountants in your country. This section focuses on the establishment of such standards. Please indicate the role your organization plays within this framework.

Section 6A -- Statutory Framework

55. For each of the following types of professionals, please indicate the name of the Legal authority and/or self-regulatory rules establishing ethics standards for accountants and auditors in your country, the date of the last amendment of such authority or rules and the name of body responsible for setting the ethics standards.

Type of professional covered	Name of applicable legal authority	Date of last amendment (e.g. MM/YYYY 06/2001)	Name of body responsible for setting ethics standards
Professional Accountants in Public Practice	Code des devoirs professionnels	1946 (presently under review : an new "Code of Deontology" will replace the old one in the next few days	CSOEC
Professional Accountants in Business
Professional Accountants in the Public Sector
Other (please describe) Statutory auditors	Code of Commerce - Code of Ethics	08/2003	CNCC

Code des devoirs professionnels (Code of Professional Duties) is available from CSOEC.
Code d'éthique is available from CNCC

Yes

Section 6B -- Standard-Setting (CSOEC)

56. For CSOEC, please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

Professional organisation established by the law with delegation of public service missions

Code des devoirs professionnels

57. How many voting members does the standard-setting body have?

58. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

59. What are the criteria considered in selecting members of the standard-setting body (e.g., best person for the job, sector of the profession, private and public members, academic, geographical representation, etc.)?

Members are elected on a regional level to form the National Council.

60. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

Refer to question 59. They are not appointed but elected.

61. What is the term of appointment for members?

2 Year(s)

62. For how many years has the standard-setting body been in existence?

59 Year(s)

63. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

23,000,000

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

1.20

64. To what entity is the standard-setting body accountable?

Ministry of Economy, Finance and Industry

65. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards

No
accessibility of meetings (i.e., public or private)

Private
approval process for final standards (i.e., majority required to approve final standards)

Simple majority
other relevant due process activities

NONE

66. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

5 Day(s)

Section 6B -- Standard-Setting (CNCC)

56. For CNCC, please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

See CNCC response.

57. How many voting members does the standard-setting body have?

58. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

60. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

61. What is the term of appointment for members?

Year(s)

62. For how many years has the standard-setting body been in existence?

Year(s)

63. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

64. To what entity is the standard-setting body accountable?

65. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards
accessibility of meetings (i.e., public or private)
approval process for final standards (i.e., majority required to approve final standards)
other relevant due process activities

66. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

Day(s)

Section 7 -- Education

Responses to questions in this section will provide a description of how education requirements for the profession are established. Please indicate the role your organization plays within this process.

Section 7A -- Education Requirements

67. Please describe in general terms the education system in your country including the different stages of education from early childhood education through to tertiary level study. Please indicate which aspects / levels are compulsory as part of the national education system:

The national education system is compulsory from 6 to 16 years old.
- The early childhood education begins from 6 years (mostly after 1 or 2 years nursery school)
- secondary school : 7 years (first stage of 4 years ending with the "Brevet des collèges" at 16 ; second stage of 3 years ending with the "baccalaureat" at about 18.
-tertiary period : universities, business schools, technical colleges, private schools, est : 1 to 8 years studies (Bachelor, Master, Doctorat = "Bologna process" 1999 which is being implemented in France, ongoing reform)

68. Is there a legal authority or regulation that specifies the requirements for an individual to operate as an accountant or auditor in your country?

Yes

Ministry of Education for the "Diplôme d'Expertise Comptable", highest State diploma in Accounting (8 years studies including a three years training period). The member body CSOEC and the professionals (experts comptables) are involved in each step of the sullabus. Each year 800 to 900 candidates get this diploma

Ministry of Justice for the "Certificat d'Aptitude à la profession de Commissaire aux Comptes", professional degree delivered by the Ministry of Justice and the Institution CNCC (Statutory auditors). 15 to 25 candidates get yearly this certificate of high level but quite unknowed from the public.
Only the Dimpôme d'Expertise Comptable allows access to the two titles and the two activities of expertise comptable (public accounting and statutory audit)

69. Please select from below all the relevant key levels of requirements to obtain certification from your member body (i.e. to qualify as a certified or chartered accountant) and provide a general description of the requirement.

	Academic requirements 4 or 5 years degree (universities,business schools ou technical colleges)
	Professional examinations 3 intermediate diplomas : DPECF diplôme preparatoire aux études comptables et financières DECF diplôme d'études comptables et financières DESCF diplôme d'études supérieures comptables et financières Exemptions are possible at each level
	Practical experience 3 years training period in an accounting/audit firm (2 years at least, 1 year being allowed in a business environment) supervised and controlled by the Member body. The 3 years period training is similar for the 2 routes (public accounting and statutory audit)
	Final qualifying examination Diplôme d'expertise comptable with 3 tests : written test on audit matters (5 hours) oral test of practical experience assessment (1 hour) discussion (1 hour) on a thesis written by the candidate
	Other (please describe) No other key levels are required to be an expert comptable (public accountant) or commissaire aux comptes (statutory auditor) (except in the last case a minimum of practical experience in statutory audit acquired during the 3 years training period). The specific certificate to become a statutory auditor doesn't allow to be a public accountant (expert comptable)

70. Which of the following arrangements best describes who establishes the education requirements for the accounting profession in your country? Please select one option.

	A government ministry, department or agency establishes education requirements for the accounting profession with no additional requirements set by the member body(ies).
	A government ministry, department or agency establishes minimum education requirements for the accounting profession, and member body(ies) supplement these requirements.
	Member body(ies) establishes the education requirements for the accounting profession.
	Other (please describe)

71. Please provide the name(s) of the relevant body in the government ministry, department, agency and / or member body who establishes the education requirements.

A general description of the role of the relevant body(ies) including how it operates and its due process in establishing the education requirements.
EXPERTISE COMPTABLE :
A legaly working group "Commission consultative pour la formation professionnelle des experts comptables" including representatives of the different concerned ministries involved with qualification, academics and representatives of the 2 member bodies (23 members in total) :
- organises the whole syllabus (contents, examinations, assessment methods, exemptions, jury, etc)
- meets at Ministry of Education 3 or 4 times per year
- decides of any reform of the syllabus

The 2 member bodies are represented by their presidents or representatives)and 4 professionals, 2 representing each institute.
How many voting members does the relevant body(ies) have
23 members
Are the members of the relevant body(ies) involved on a voluntary basis or employed by the standard-setting body?

Voluntary

Employed

Both - Please describe:
For how many years has the body been in existence?

Year(s)

72. How would you describe the authority that the education requirements have?

	Requirements are legally-based
	Requirements are set in the constitution, by-laws or other rules of the relevant body(ies).
	Requirements are set in member body(ies) policy document(s).
	Other (please describe)

72 a. How can IFAC obtain copies of these documents?

72 b. Are these documents available in English?

Yes

73. Are the education requirements for accountants and auditors the same throughout your country, or do they differ among regions, provinces or states?

Same

Different

If different, please briefly describe the main differences:

74. Please indicate the scenario that best describes who delivers the education and examination process for members of the profession. Please only select one option.

	The education program and final examination are delivered by the member body.
	The education program and final examination are delivered by the member body and other education institutions (e.g., universities, colleges, and others).
	The education program and final examination are delivered by education institutions (e.g., universities, colleges, and others).
	Other (please explain)

75. Once qualified as a member of your professional body, can members offer their services directly to the public?

Yes

Section 7B -- Licensing

76. Are there licensing requirements for auditors in your country?

Yes (continue with Question 77)

No (proceed to Section 8)

77. Who sets the requirements to obtain a license?

Experts comptables (Public accountants) : Ministry of Economy, Finance and Industry
Commissaires aux Comptes (Statutory auditors) : Ministry of Justice

78. What are the requirements to obtain a license (please select all relevant requirements.)?

	Academic study specific for obtaining a license
	Practical experience
	Licensing examination
	Final qualifying examination
	Other (please describe)

79. Are there ongoing requirements to retain a license?

Yes

	Continuing professional development
	Re-examination
	Other (please specify): Quality control requisitions

80. What entity grants the license?

Regional councils of Ordre des Experts comptables (22 in France on a geographical basis)

81. Describe any additional licensing requirements for auditors of listed entities (e.g., additional education requirements, registration, etc.).

None

Section 8 -- Public Sector Accounting Standards

Responses to this section will provide a description of the legal and professional framework governing public sector accounting standards in your country. The section focuses on the establishment of such standards. Please indicate, where appropriate, the role of your organization within this framework.

Section 8A -- Statutory Framework

82. Please provide the name of the Legal authority and/or self-regulatory rules establishing public sector accounting standards in your country, the date of last amendment and the name of the body responsible for setting public sector accounting standards. If the standards are different for different entities (e.g., whole of government, ministry/department, statutory authority/agency, profit entity owned by government, state governments, local governments, other [please specify]), please specify the details that apply to each.

Type of entity	Name of legal authority	Date of last amendment (e.g. MM/YYYY 06/2001)	Name of body responsible for setting public sector accounting standards
Whole of government	Parliament	8/2001	Comité des Normes de la Comptabilité Publique
Ministry/department
Statutory authority/agency
Profit entity owned by government	Governement		Conseil National de la Comptabilité and related ministry (rules of private sector)
State governments
Local governments	Government (Ministries f Interior and Finance	1997	Comité des finances locales
Other (please describe)
Other (please describe)

Public accounting standards are available on Ministry of Finance's website www.finances.gouv.fr/Moderfie

Yes

Section 8B -- Standard-Setting (Comit� des Normes de la Comptabilit� Publique)

83. For Comit� des Normes de la Comptabilit� Publique, please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

Part of Ministry of Finance

Normes comptables de l'Etat

84. How many voting members does the standard-setting body have?

85. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

86. What are the criteria considered in selecting members of the standard-setting body (e.g., best person for the job, sector of the profession, private and public members, academic, geographical representation, etc.)?

Civil servants and accountants with a good knowledge of public acconting and standard setting in general

87. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

Government (Arrêté of the Ministry of Finance)

88. What is the term of appointment for members?

3 Year(s)

89. For how many years has the standard-setting body been in existence?

2 Year(s)

90. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

1.20

91. To what entity is the standard-setting body accountable?

Ministry of Finance

92. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards

No
accessibility of meetings (i.e., public or private)

Private
approval process for final standards (i.e., majority required to approve final standards)

Simple majority
other relevant due process activities

None

93. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

Day(s)

Section 8B -- Standard-Setting (Conseil National de la Comptabilit� and related ministry (rules of private sector))

83. For Conseil National de la Comptabilit� and related ministry (rules of private sector), please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

See section 9

84. How many voting members does the standard-setting body have?

85. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

87. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

88. What is the term of appointment for members?

Year(s)

89. For how many years has the standard-setting body been in existence?

Year(s)

90. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

1.20

91. To what entity is the standard-setting body accountable?

92. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards
accessibility of meetings (i.e., public or private)
approval process for final standards (i.e., majority required to approve final standards)
other relevant due process activities

93. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

Day(s)

Section 8B -- Standard-Setting (Comit� des finances locales)

83. For Comit� des finances locales, please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

Part of Ministry of Interior

Instructions comptables

84. How many voting members does the standard-setting body have?

32 titulary members

85. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

Good knowledge or accounting and standard setting

87. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

Government

88. What is the term of appointment for members?

3 Year(s)

89. For how many years has the standard-setting body been in existence?

20 Year(s)

90. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

1.20

91. To what entity is the standard-setting body accountable?

Ministry of Interior

92. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards

No
accessibility of meetings (i.e., public or private)

Private
approval process for final standards (i.e., majority required to approve final standards)

Simple majority
other relevant due process activities

After adoption by Comité des Finances locales the draft instructions are submitted to the Conseil National de la Comptabilité for advice

93. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

Day(s)

Section 9 -- Private Sector Accounting Standards

Responses to the questions in this section will provide a description of the legal, statutory and professional framework governing private-sector accounting standards in your country. The section focuses on the establishment of such standards. Please indicate what role your organization plays within this framework.

Section 9A -- Statutory Framework

94. Please provide the name of the Legal authority and/or self-regulatory rules that establish private-sector accounting standards in your country, the date of last amendment, and the name of the body responsible for setting private sector accounting standards. If the standards are different for different entities (for example, listed entities, private companies, governmental organization, not for profit organizations, etc.), please specify the requirements that apply to each.

Type of entity	Name of legal authority or applicable rules	Date of last amendment (e.g. MM/YYYY 06/2001)	Name of body responsible for setting private sector accounting standards
Listed entity
Other (please describe) All commercial and industrial entities (individual accounts)	Code of commerce	04/1983	Government act
Other (please describe) All commercial and industrial entities (individual accounts)	Code of Commerce	08/2003	Accounting Regulatory Committee
Other (please describe) All commercial and industrial entities (individual accounts)	Plan Comptable Général (CRC regulation 99-03	12/2003	Government act
Other (please describe) All commercial and industrial entities (individual accounts)	CRC regulation 99-02	12/2002	Accounting Regulatory Committee

Through CNC's website www.finances.gouv.fr/CNCompta (CRC regulations) and through government website for the Code of Commerce www.legifrance.gouv.fr

Yes

Section 9B -- Standard-Setting (Government act)

95. For Government act, please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

Parliament and ministry of Justice

Code de Commerce

96. How many voting members does the standard-setting body have?

N/A

97. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

98. What are the criteria considered in selecting members of the standard-setting body (e.g., best person for the job, sector of the profession, private and public members, academic, geographical representation, etc.)?

99. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

100. What is the term of appointment for members?

Year(s)

101. For how many years has the standard-setting body been in existence?

Year(s)

102. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

103. To what entity is the standard-setting body accountable?

104. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards
accessibility of meetings (i.e., public or private)
approval process for final standards (i.e., majority required to approve final standards)
other relevant due process activities

105. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

Day(s)

Section 9B -- Standard-Setting (Accounting Regulatory Committee)

95. For Accounting Regulatory Committee, please indicate the nature of the body (i.e., whether it is part of a government ministry or department, an agency appointed by government, a private organization established by the profession, or other [please describe]) and the name of the standards.

Decision making body setting the private sector accounting standards created in 1998. Il is helped in his task by a consultative technical body the Conseil National de la Comptabilité (CNC)which is responsible for preparing the new acconting regulations and /or amendments to previous ones and to the PCG. The CNC issues also recommendations and advices, some of them being presented to CRC for homologation.
The 2 French institutions CSOEC and CNCC are members of these to bodies CRC and CNC

CRC accounting regulations : règlements du CRC , homologated by ministery order (arrêté interministériel) and published at the Official Journal of the French republic

96. How many voting members does the standard-setting body have?

CRC : 15 and CNC : 58

97. Are the members of the standard-setting body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

CRC :
8 government representatives : 3 representatives of the ministries, the chairman of the national securities reglator and the chairman of the CNC
7 professionals appointed by government order: presidents of CSOEC and CNCC, 2 representatives of the enterprises, 3 representatives of the trade unions
CNC
one chairing president
6 vice presidents (presidents of CSOEC, CNCC, 2 representatives of enterprises, 1 representative of NFP organisations
40 qualified individuals representing various economic sectors and financial professions
11 representatives of the various ministries and state departments

99. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

Ministry of finances by order (arrêté)

100. What is the term of appointment for members?

3 Year(s)

101. For how many years has the standard-setting body been in existence?

6 Year(s)

102. Please indicate the budget in US$ of the standard-setting body for the last fiscal year:

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

1.20

103. To what entity is the standard-setting body accountable?

Ministry of Economy, Finance and Industry

104. Describe the due process followed by the standard-setting body. Please include explanations of the following:

public exposure of standards

No formal due process exists : sometimes the CNC issues exposure drafts on topics estimated as of major interest (for instance liabilities, definition and measurement of assets). Exposed documents are available on CNCs website during the exposition period
accessibility of meetings (i.e., public or private)

Private
approval process for final standards (i.e., majority required to approve final standards)

Simple majority
other relevant due process activities

None

105. Approximately how many days per year does the standard-setting body meet in full session (including teleconferences)?

2 Day(s)

Section 10 -- Monitoring (Quality Assurance) and Enforcement

Responses to the questions in this section will provide a description of the legal and professional framework governing regulation of the profession in your country. Please indicate what role your organization plays within this framework.

Section 10A -- Securities Market Regulatory Authority

106. Name the authority that regulates the securities market:

AUTORITE DES MARCHES FINANCIERS

107. What responsibilities does this organization have for monitoring and enforcing compliance with accounting, reporting or auditing requirements? Please identify the Legal authority that establishes that responsibility:

Code monétaire et financiers, TItle II of Book VI (art L 621-1 to L 623-4)

108. Briefly describe the role of the regulatory authority as it relates to the following:

regulation of the audit profession

No specific regulatory role regarding the auditing profession, but the AMF is entitled to give a positive or negative advice regarding the appointment of the statutory auditors of listed entities
accounting and auditing standard-setting

AMF doesn't play a specific role regarding accounting and audit standards setting, but is part of the CNC. In addition AMF publishes guidance on a very broad range of financial reporting requirements
review of financial statements prepared by listed entities, and monitoring of their compliance with the accounting and disclosure requirements

AMF is required by ruling to deliver a visa on prospectuses. For this purpose it is entitled to require additional disclosure or information to be provided by the issuer in the prospectus, includng certain accounting treatment if necessary. The statutory auditor of the entity issues a report providing negative assurance on the financial information contained in the prospectus. This report is public and part of the prospectus.

Section 10B -- Stock Exchange

109. Name the four largest stock exchangers (by market capitalization) and whether it is organized as a profit or not-for-profit organization:

Profit	Not for profit	Stock Exchange
		EURONEXT PARIS

Section 10B -- Stock Exchange
EURONEXT PARIS Details

110. For EURONEXT PARIS, is there a mechanism at the stock exchange(s) for monitoring and enforcing financial reporting, accounting and auditing of listed entities?

Yes

If YES, please describe the following:

How the monitoring and enforcement of financial reporting, accounting and auditing is conducted.
The consequences of non-compliance with the financial reporting, accounting or auditing requirements.
How enforcement actions are administered.

Section 10C -- Regulatory Oversight of the Accounting Profession

111. Has an audit profession oversight body been established (e.g., to oversee the external quality assurance review process, etc.)?

Yes

If NO, proceed to the next section.

If YES, please describe :

What are the name and duties of the oversight body?

For contractual audit - direct oversight by the Ministry of Finance for contractual audits performed by experts comptables
The Ministry of Finance examines and validates by delivering an agreement on the standards drafted by CSOEC.
The number of members on the oversight body

N/A
Its powers

To give official agreement to CSOEC's professional standards
How the oversight body conducts or oversees a program of inspections to assess the degree of compliance of each audit firm/auditor with applicable auditing standards and regulations

The program of quality control is formally delegated by the Ministry to CSOEC
The sanctions the oversight body may impose in the event of non-compliance

Sanctions power is delegated to the CSOEC: large range from censure to exclusion, temporary or definitive.
How the oversight body is accountable to any public institution or body

As a part of the Ministry

Section 10D -- Banks Regulatory Authority

112. Name the authority that regulates the banks and similar financial institutions. Discuss how this authority differentiates between accounting requirements for regulatory reporting and general purpose external financial reporting:

THE COMMISSION BANCAIRE The Commission bancaire regulates the banks and and similar financial institutions requires reporting more frequently (monthly or quarterly basis), and more detailed financial statements

113. Discuss briefly the legal requirements with respect to monitoring and enforcement by the regulatory authority of accounting and auditing standards that apply to the banks and similar financial institutions:

For banks and similar institutions, the regulatory authority of accounting standards is the Conseil National de la COmptabilité and for statutory audit the CNCC and the Haut Conseil du Commissariat aux Comptes. They are the same as for other entities. The CNC has defined certain specific accounting standards for nbanks and similar financial institutions. The respect of these standards are checked by the statutory auditors. Ther are no secific auditing standards for auditors of banks ans similar financial institutions

114. Briefly describe the role of the regulatory authority as it relates to the following:

regulation of the audit profession

The Commission bancaire gives an opinion about the auditors before their nomination, can appoint an additional auditor if necessary, requires auditors to report to it in precise situations, removed the obligation of confidentiality so it can interview auditors. It can also impose some independence rules.
accounting and auditing standard-setting

As a member of the CNC the Commission bancaire participate to the vote of accounting standards
review of financial statements prepared by listed entities

See 114d.
enforcement of accounting, reporting and auditing requirements

The Commission bancaire checks financial information sent by the banks, makes inspections in situ, receives annual reports of the auditors

Section 10E -- Non-Banking Financial Institutions Regulatory Authority

115. Name the regulatory authority(ies) responsible for monitoring compliance with and enforcing accounting, reporting and auditing requirements imposed on non-banking institutions.

116. What is the source of Legal authority of the regulatory authority(ies)?

117. Briefly describe the role of the regulatory authority(ies) as it relates to the following:

regulation of the audit profession
accounting and auditing standard-setting
review of financial statements prepared by listed entities
enforcement of accounting, reporting and auditing requirements

Section 10F -- Insurance Companies Regulatory Authority

118. Name the regulatory authority responsible for monitoring compliance with and enforcing accounting, reporting and auditing requirements imposed on insurance companies.

The compliance and enforcement of accounting and reportng requirements are monitored by the statutory auditors, the prudential authority CCAMIP (Commission de Contrôle des Assurances, Mutuelles et Institutions de Prévoyance), and the Regulator Autorité des Marchés Financiers AMF for listed companies. For auditing standards, compliance and enforcement are monitored by CNCC and AMF

119. What is the source of Legal authority of the regulatory authority(ies)?

The sources of legal authority of the regulatory authorities are European directives and national laws.

120. Briefly describe the role of the regulatory authority(ies) as it relates to the following

regulation of the audit profession

The CCAMIP gives an opinion about the auditors before their nomination, can name an auditor if necessary, requires auditors to report in precise situations, removed the obligation of confidentiality so it can interview auditors.
accounting and auditing standard-setting

As a member of CNC CCAMIP participates to the vote of accounting standards
review of financial statements prepared by listed listed entities

See 120d.
enforcement of accounting, reporting and auditing requirements

The CCAMIP checks the documents and reports on those which are sent by the insurance companies ; makes its own inspections in situ, and receives the annual report of the statutory auditors.

Section 10G -- Other Regulatory Authority

121. Name any other regulatory authority(ies) responsible for monitoring compliance with and enforcing accounting, reporting and auditing requirements.

122. What is the source of Legal authority of each regulatory authority?

123. Briefly describe the role of the regulatory authority(ies) as it relates to the following

regulation of the audit profession
accounting and auditing standard-setting
review of financial statements prepared by listed listed entities
enforcement of accounting, reporting and auditing requirements

Section 10H -- Quality Assurance

124. Does any organization of professional accountants/auditors organize a program of quality assurance review to monitor compliance with accounting, reporting and auditing requirements?

Yes

If NO, proceed to next Section.

If YES, briefly describe the monitoring and enforcement mechanism.

1) Structural standarized inspection validating the organisation of the firm and the ongoing training
2) Control of the appliation of audit standards trough files review

125. Under what authority does the organization conduct the program of quality assurance review?

By delegation of Ministry of Finance

126. Who performs the review (e.g., one firm reviewing another firm, staff from the national professional organization, contractors, or a combination of these)?

Inspection performed by a staff of trained independant voluntary professionals members of the institute (800 inspectors)

Section 10 I -- Investigation and Discipline

127. Is there a process for investigating and disciplining the accounting profession in your country?

Yes

If NO, proceed to the Certification of Chief Executive

128. Which of the following best describes the responsibility for the investigatory and disciplinary function in your country?

	Government or other agencies are solely responsible for this function.
	Government or other agencies have this responsibility, but the member body or bodies participate in the process.
	Government formally delegates this function to the member body or bodies, to exercise on its behalf.
	Member body or bodies have separate and independent processes that operate alongside processes of legal authorities.
	Other (please explain)

129. Please indicate the name of the body or bodies responsible for investigation and discipline.

At the regional level exists a discipline chamber with 3 members (chaired by a professional magistrate)
At the national level a national chamber of discipline examines in appeal the cases judged by local chambers. It comprises 5 members : 3 magistrates (including the President) and 2 experts comptables.
An appeal of the decisions of National Chamber is possible in the upper justice courts

Responses to the remaining questions in this Section are required if your organization has responsibility for investigation and disciplinary actions.

130. How many voting members does the body have?

3 to 5

131. Are the members of the body involved on a voluntary basis or employed by the standard-setting body?

	Voluntary
	Employed
	Both - Please describe:

132. What are the criteria considered in selecting members of the body (e.g., best person for the job, sector of the profession, private and public members, academic, geographical representation, etc.)?

Interest for the matters of discipline

133. Who appoints these members (e.g., member body, government, user, regulator, etc.)?

Government (magistrates) and institution

134. What is the term of appointment for members?

2 Year(s)

135. For how many years has the body been in existence?

40 Year(s)

136. Please indicate the budget in US$ of the body for the last fiscal year.

Note: Please enter a whole number using commas (e.g., 4,000,000)

Please enter the exchange rate used to calculate this number.

Note: Please enter a decimal amount (e.g., 4.0027)

1.20 (specify currency)

137. To what entity is the body accountable?

Conseil d'Etat (highest jurisdiction)

138. Approximately how many days per year does the body meet in full session (including teleconferences)?

5 Day(s)

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