Doing Business in France - RSM International

5.6 Focus on listed companies
5.6.1 Consolidated financial statements
Since January 1st, 2005, the listed companies have had the obligation to present
their consolidated financial statements according to the IFRS. The legal auditor’s
opinion and the directors’ report must also be included in the annual report. The
financial statements and the legal auditor’s and directors’ reports must be filed with
the Commercial Register and are available for inspection by the public.
5.6.2 Report on Internal Control (only for companies quoted on the Stock Exchange)
This report presents the observations of the legal auditors on the report of the
director concerning the internal control procedures regarding the development
and the treatment of the accounting and financial data processing. The purpose
of the legal auditors is to secure that this information contained in the report of
the director must be presented in a sincere way, be relevant and not likely to be
interpreted wrongly.
5.7 Accounting and tax audit
The quality of the accounting system of the company has direct consequences on the
level of the risk borne by the company within a tax audit. The strict respect of the
rules of the PCG regarding the treatment and the keeping of the accounting data is
therefore very important for every company established in France.
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