In France, the statutory audit is modernising

Author:Bernard KLEINER

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Keywords:Challenges,financial security, independence, quality assurance

Abstract:
The accounting issue became cardinal and today allows two kind of developments. The first kind of developemnt is organised around the accouting norms qquality and their understandability. This issue leads to a reflection on the norms uniformity in order to facilitate the comparability of accounting documents. A second kind of development is organised around the accounts control. As it is well known, the quality of the accounts controls could be discussed during the financial scandals, situation when the profession unity could not be demonstrated.\r\n\r\nIt is good to know what demonstrate the quality of the opinion issued by the auditor and the how much you can trust it. First, this is demonstrated by the auditor capacity to discover the anomalies inside the accounting systems of the audited company and this due to his/her competence. Than, this also is demonstrated by his/her desire to be accountable this being possible only if he/she is independent. These are the two parameters which should be considered by the regulators and which have been approaced and answered on the two parts of the Atlantic ocean. As far as concerns the French regulators, the financial security is based in principle on the external auditor willingnes to be accountable for his/her work.

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