Auditor or chartered accountant: which one to choose?

Updated April 4, 2026 - When a company is looking for a financial professional, the question invariably arises: auditor or chartered accountant, which one actually fits your situation? The answer lies in a fundamental distinction. The chartered accountant supports the business owner on a daily basis with accounting, tax and social management. The statutory auditor (commissaire aux comptes, or CAC) certifies annual accounts and carries out an independent audit mission required by law. These are two distinct professions, two different legal frameworks, two levels of independence and responsibility that do not overlap. Understanding this difference is essential to avoid confusing missions that have nothing in common.

In summary: the chartered accountant keeps, reviews and advises on your accounting. The statutory auditor certifies the regularity and fairness of your accounts within a strict legal framework. The first is your daily ally, the second is the guarantor of financial reliability for third parties (shareholders, banks, tax authorities).

The difference between a statutory auditor and a chartered accountant rests on three pillars: the nature of the mission, the legal framework and the independence relationship.

The chartered accountant is a professional registered with the Order of Chartered Accountants (Ordre des experts-comptables). They hold an exclusive prerogative: to keep, centralize, close, monitor and correct the accounts of companies to which they are not bound by an employment contract (Ordinance of September 19, 1945). Their relationship with the company is contractual and collaborative. They work for the business owner.

The statutory auditor (CAC) is a professional registered on the official list of the National Company of Statutory Auditors (CNCC), under the supervision of the High Council of Statutory Audit (H3C). Their mission is to certify annual accounts by attesting to their regularity and fairness. They work for financial truth, not for the business owner. This distinction is crucial.

To complete, see Differences between accountant and auditor, Missions of accountants and Directory of accountants.

The chartered accountant is the natural professional for all accounting support and management missions:

• Accounting keeping or review: data entry, lettering, bank reconciliations, preparation of balance sheet and income statement.
• VAT and taxation: VAT returns (monthly or quarterly), tax bundle, optimization of tax régime, support in case of tax audit.
• Payroll and social: preparation of payslips, social déclarations (DSN), employment contract management, labor law advice.
• Annual legal: meeting notices, minutes, filing of accounts with the registry, statutory amendments.
• Management and advice: dashboards, cash flow forecasting, profitability analysis, strategic decision support.
• Creation and transfer: choice of legal form, drafting of articles of association, support for sale or transfer.

In 2026, nearly 4 million companies are supported by a chartered accountant in France. The profession has over 22,000 registered professionals, distributed across approximately 15,000 firms throughout the country.

Concrete example: a SAS with 15 employees and a turnover of 1.2 million euros is not required to appoint a statutory auditor. However, it has every interest in surrounding itself with a chartered accountant to manage its accounting, tax déclarations, payroll, and anticipate its cash flow deadlines.

The appointment of a mandatory statutory auditor is governed by Article L823-1 of the French Commercial Code, as amended by the PACTE law of 2019 and Ordinance No. 2025-1355 of November 14, 2025 on statutory audit.

Since the PACTE reform, the thresholds for mandatory appointment of a CAC for commercial companies (SARL, SAS, SA) have been raised. A company must appoint a statutory auditor if it exceeds two of the following three thresholds at the end of a fiscal year:

• Total balance sheet: 4 million euros;
• Net turnover: 8 million euros;
• Number of permanent employees: 50.

Before the PACTE law, the thresholds were 3.1 million euros in total assets, 6.2 million euros in turnover and 50 employees. This increase exempted several thousand SMEs from this obligation, reducing their administrative burden.

Some companies are subject to the statutory audit obligation regardless of their size:

• companies making public offerings (listed companies);
• companies whose securities are admitted to trading on a regulated market;
• certain credit institutions and insurance companies;
• companies whose capital is more than 50% owned by a company with a CAC.

The November 2025 ordinance further strengthened the continuing education and independence requirements for CACs, transposing the latest European directives on statutory audit.

The mission of the statutory auditor goes far beyond a simple arithmetic check. It is structured around several components:

• Certification of accounts: the CAC examines the annual accounts (balance sheet, income statement, notes) and issues an opinion on their regularity, fairness and true view of the assets and financial position. They may issue an unqualified opinion, a qualified opinion, an adverse opinion, or a disclaimer of opinion.

• Verification of management: the CAC verifies the accuracy of information provided in the management report and documents sent to shareholders on the financial position and annual accounts.

• Reporting of criminal acts: upon discovery of criminal acts, the CAC is obliged to report them to the public prosecutor (criminal alert procedure, Article L823-12 of the Commercial Code).

• Alert procedure: if the CAC identifies facts that could jeopardize the continuity of operations, they implement an alert procedure to inform management and, if necessary, the president of the commercial court.

• Special report: the CAC prepares a report on regulated agreements (agreements between the company and its directors or shareholders).

The CAC operates in a strictly independent framework. They cannot hold any management position in the company they audit, nor have any financial or family ties with the directors. This independence is guaranteed by the H3C, which conducts regular controls on the activities of statutory auditors.

Yes, and this is actually a very common situation. In many mid-size companies, both professionals work in complementarity:

• the chartered accountant produces the accounting, prepares the annual accounts, advises the business owner on tax and social decisions;
• the statutory auditor certifies these same accounts and ensures their compliance with applicable accounting standards.

This duality is healthy and desirable. The chartered accountant cannot be the CAC of the same company: the principle of independence formally prohibits it. The H3C reminds us that a statutory auditor cannot certify the accounts of an entity for which they participated in the accounting or the preparation of financial statements.

Hayot Expertise advice: if your company reaches the thresholds for mandatory appointment of a CAC, anticipate. Finding a statutory auditor takes time, and the general meeting that appoints them must be convened within legal deadlines. A chartered accountant can help you prepare this transition and identify competent CACs in your sector.

The choice between statutory auditor and chartered accountant is not a matter of personal preference, but an objective analysis of your situation. Here are the questions to ask yourself:

1. Does your company exceed the legal thresholds? If yes, the appointment of a CAC is mandatory. If not, it remains optional but may be relevant in certain contexts (lender request, investor entry, preparation for a sale).
2. What is your main need? Daily support, tax optimization, payroll management → chartered accountant. Certification, audit, control → statutory auditor.
3. Do you have contractual obligations? Some lenders, investors or commercial partners require certification of accounts by a CAC, even below the legal thresholds.
4. What is your growth trajectory? If you are approaching the thresholds, anticipate the transition. Moving from purely accounting support to a framework with a CAC requires advance preparation.

In 2026, choosing between statutory auditor and chartered accountant means distinguishing two complementary but irreconcilable logics in their exercise. The chartered accountant is your management partner: they keep your accounts, advise you, help you manage your business on a daily basis. The statutory auditor is the guarantor of the reliability of your accounts for third parties: they certify, they control, they alert if necessary.

Both professions are regulated, each by its own body (Order of Chartered Accountants on one side, H3C and CNCC on the other). They do not replace each other, they complement each other. And in many mid-size companies, the two coexist harmoniously.

(Official sources: Order of Chartered Accountants, H3C, CNCC, Légifrance - Article L823-1 of the Commercial Code, Ordinance No. 2025-1355)