Its appointment may be mandatory or optional. It depends on the balance sheet, the turnover before tax and the number of employees during the financial year. The Statutory Auditor is chosen from among those registered with a Court of Appeal. Their mandate lasts six years with the impossibility of resigning and terminating their mission (3 years in case of voluntary designation), even if the conditions of appeal are no longer mandatory.
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Mandatory recourse
The appointment of an auditor is mandatory when the company exceeds, at the end of the fiscal year, 2 of the following thresholds:
- Balance sheet total over 4 million euros.
- Turnover before tax over 8 million euros.
- Number of employees greater than 50.
The appointment of an auditor is also compulsory in the event of a legal claim by one or more partners of an SNC.
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Optional recourse
Since the implementation of the PACTE Law, the thresholds have been raised, the SA no longer needs a CAC from its constitution. Moreover, when the SA or SAS controls (holding company) or is controlled (subsidiaries) by one or more companies, there is no longer any obligation to appoint a CAC as long as the thresholds are not exceeded.
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Since the implementation of the PACTE Law, the thresholds have been raised, the SA no longer needs a CAC from its constitution. Moreover, when the SA or SAS controls (holding company) or is controlled (subsidiaries) by one or more companies, there is no longer any obligation to appoint a CAC as long as the thresholds are not exceeded.
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Caution !
Failure to appoint a Statutory Auditor may result in criminal sanctions (2 years imprisonment and a €30,000 fine).
It is therefore essential to check on a regular basis whether the conditions for exemption are still met, especially in the event of a takeover or subsidiaries of a SAS. From this point of view, LLCs offer more flexibility.
