Chartered accountant or auditor: the differences

Updated April 4, 2026 - The differences between chartered accountant and statutory auditor (commissaire aux comptes) are at the heart of questions asked by business leaders in France. Both financial professionals work around the same documents — balance sheet, income statement, notes — but their missions, legal frameworks and relationship to the company are radically different. Understanding these distinctions is essential to engage the right professional at the right time and comply with your legal obligations.

Quick answer: the chartered accountant assists the company in producing and analysing accounting and tax information (bookkeeping, auditing, déclarations, advice). The statutory auditor (CAC) controls and certifies the accounts within a strict legal framework, in complete independence. One builds and advises, the other verifies and certifies. Their missions are complementary but never substitutable.

For more information, see Missions of accountants, Directory of accountants and BSPCE: taxation and auditors.

The chartered accountant is a professional registered with the Order of Chartered Accountants, holder of the DEC (Diplome d'Expertise Comptable). Their mission falls under assistance and advice framed by a mission letter signed with the manager.

Main missions of the chartered accountant#

• bookkeeping: data entry, lettering, bank reconciliations, journal entries;
• preparation of annual accounts: balance sheet, income statement, notes in accordance with the General Accounting Plan (PCG);
• tax déclarations: VAT, corporate tax (IS), income tax (IR), CFE, CVAE;
• payroll management: pay slips, social déclarations (DSN), employment contracts;
• advice and management: interim accounts, dashboards, tax optimisation, forecasts;
• legal support: business creation, statutory amendments, general meetings.

The chartered accountant maintains a close relationship with the manager. They actively participate in the production of financial information and can make strategic recommendations. Their commitment is contractual: they are accountable for their work to their client, within the scope defined by the mission letter.

The statutory auditor (commissaire aux comptes, CAC) is a professional authorised to carry out legal audits and certification of accounts. They are registered on an official list and subject to the control of the High Council of Statutory Auditors (H3C), the supervisory authority of the profession. The National Company of Statutory Auditors (CNCC) represents the profession and issues professional practice standards.

Main missions of the statutory auditor#

• certification of accounts: verification of the regularity, fairness and true view of the annual accounts;
• internal control: assessment of the internal control procedures implemented by the entity;
• specific verification: control of regulated agreements, executive remuneration, equality between shareholders;
• alert procedure: alert procedure in the event of facts likely to compromise the continuity of operations (Article L823-1 of the Commercial Code);
• general report: présentation of the mission's conclusions to the general meeting of shareholders.

Unlike the chartered accountant, the CAC never participates in the production of the accounts they certify. They must maintain total independence from the audited entity, in accordance with the profession's code of ethics (Annex 8-1 of Book VIII of the Commercial Code, revised by Decree No. 2026-176 of 11 March 2026).

The CAC appointment thresholds vary according to the company's legal form. Since the PACTE law and its implementing decrees, thresholds have been raised to lighten the obligations of small businesses.

SAS and SA#

The appointment of a statutory auditor is mandatory in SAS and SA when two of the following three thresholds are exceeded at the end of a financial year:

• net turnover: more than 8 million euros;
• total balance sheet: more than 4 million euros;
• number of employees: more than 50.

If none of these thresholds is exceeded, or only one is, the appointment of a CAC remains optional. However, shareholders holding at least 10% of the share capital may apply to the court for the appointment of a CAC.

SARL#

For SARLs, the thresholds are identical (2 of 3 criteria: turnover > €8M, total balance sheet > €4M, workforce > 50). A particularity exists: if the SARL does not exceed the thresholds but a natural person shareholder representing at least 10% of the share capital requests it, a CAC may be appointed by the court.

Listed companies and public interest entities#

Listed companies, credit institutions, insurance companies and certain public interest entities are subject to a permanent statutory audit obligation, regardless of thresholds. They must also set up an internal audit committee.

Important note: thresholds are assessed over two consecutive financial years. A company that exceeds the thresholds for a single year is not immediately subject to the obligation. Conversely, the end of the mission occurs when the thresholds are no longer reached for two consecutive years.

The principle of independence of the statutory auditor is absolute. The profession's code of ethics (Annex 8-1 of the Commercial Code) formally prohibits the CAC from carrying out any activity incompatible with their control mission.

Main incompatibilities#

• participation in management: the CAC cannot make any management decisions in the entity they certify;
• production of accounts: they cannot establish, correct or modify the accounting entries of the accounts they audit;
• financial links: the CAC cannot hold shares in the audited entity, nor maintain direct or indirect financial links;
• family ties: close relatives of the CAC cannot hold management positions in the entity;
• service provision: services other than certification (tax, legal, IT advice) are strictly regulated and, for public interest entities, largely prohibited.

This strict séparation explains why the same firm cannot be both chartered accountant and statutory auditor of the same company. This is a fundamental rule of the French and European legal audit framework.

Despite their differences, the chartered accountant and the statutory auditor work in a complementary ecosystem. In a company subject to the CAC obligation, the two professionals interact regularly:

• the chartered accountant prepares the annual accounts and sends them to the CAC for certification;
• the CAC formulates observations and requests for supporting documents which the chartered accountant answers;
• the chartered accountant's observation letter constitutes a useful working document for the CAC;
• the chartered accountant's recommendations on internal control feed into the CAC's assessments.

Concrete example: a growing SAS#

Let's take the case of a SAS that exceeds the threshold of 8 million euros in turnover for the second consecutive year, while also exceeding 50 employees. The company must then appoint a statutory auditor at the next general meeting.

Until then, their chartered accountant managed the accounting, tax déclarations and payroll. From the appointment of the CAC, the dynamic changes: the chartered accountant must ensure that the accounts are prepared according to the standards expected by the statutory auditor, document accounting choices and anticipate requests for supporting documents. The manager, for their part, benefits from a double perspective on the reliability of their financial information.

Hayot Expertise Advice: confusion between chartered accountant and statutory auditor often comes from vocabulary. Both talk about "accounts", but one helps to build and analyse them, while the other controls and certifies them according to a defined legal framework. Preparing for this transition in advance avoids friction and certification delays.

Several recurring misconceptions deserve to be corrected:

• confusing accounting review and legal audit: the review carried out by the chartered accountant is a consistency check, not a certification. Only the CAC delivers a certified opinion;
• thinking that the CAC is a tax advisor: the statutory auditor does not make optimisation recommendations. Their role is to verify, not to advise;
• underestimating the cost of the CAC mission: the fees of a statutory auditor are set by the general meeting and are generally higher than those of the chartered accountant, because the mission involves binding audit standards and criminal liability;
• neglecting the preparation of accounts before the CAC's visit: poorly prepared accounts prolong the mission, increase fees and may lead to a qualified certification;
• believing that the CAC is a tax inspector: the statutory auditor does not represent the tax administration.

Their mission is to protect stakeholders (shareholders, employees, creditors) by certifying the reliability of the accounts.

We can help you distinguish between what is accounting support and what is a statutory auditing mission. Our firm guides you in choosing the right contact according to your obligations and objectives.

Quick link: Choosing the right support or certification framework

In 2026, the differences between chartered accountant and statutory auditor remain structural and irreducible. The chartered accountant is your daily management partner: they keep your accounts, optimise your taxation and advise you in your decisions. The statutory auditor is the guarantor of the reliability of your financial information: they certify your accounts within a strict legal framework, in complete independence.

The two professions are complementary but never interchangeable. A company subject to the CAC obligation needs both: one to produce and manage, the other to verify and certify. Anticipating this duality, preparing your accounts before the CAC's visit and understanding the expectations of each professional are the keys to a smooth and effective relationship.

(Official sources: Order of Chartered Accountants, H3C, CNCC — Code of Ethics March 2026, Article L823-1 of the Commercial Code)