Statutory Audit and Due Diligence in Paris | French Auditor
Statutory audit, contribution audit, merger audit and financial due diligence in Paris for SMEs and associations. CRCC-registered auditor, Hayot Expertise.
Statutory Auditor and Financial Due Diligence — Hayot Expertise Paris 8#
A statutory auditor (commissaire aux comptes) in Paris is your guarantee of account reliability and legal security for your corporate operations. Hayot Expertise, registered with the Compagnie Régionale des Commissaires aux Comptes de Paris (CRCC de Paris) and based at 58 rue de Monceau, 75008 Paris, carries out statutory audit, contribution audit, merger audit and financial due diligence assignments for SMEs, mid-sized companies, associations and groups. With over 10 years of combined accounting and auditing experience, we deliver a complete 360° financial perspective — from annual account certification to complex restructuring and M&A transactions.
What is statutory audit and why does it matter in 2026?#
Regulatory context#
A statutory auditor is an independent regulated professional appointed by the shareholders' general meeting for a term of 6 financial years. Independence is guaranteed by law: the same professional cannot carry out accounting work for the same entity. In 2026, several developments reinforce the importance of statutory audit:
- The 2026 Finance Act introduces new disclosure obligations that require stronger external controls
- The CSRD directive on non-financial reporting creates new assurance needs on ESG data that statutory auditors are increasingly required to cover
- Growing consolidation of SME groups multiplies in-kind contribution operations, mergers and due diligence assignments
Mandatory appointment thresholds (PACTE Act 2019)#
Since the PACTE Act (2019), a statutory auditor is mandatory for companies exceeding 2 out of 3 of the following criteria:
| Criterion | Threshold |
|---|---|
| Balance sheet total | > €4,000,000 |
| Annual net turnover | > €8,000,000 |
| Permanent headcount | > 50 employees |
Key exceptions:
- SAs (public limited companies) and SCAs must always appoint a statutory auditor, regardless of size.
- Associations receiving more than €153,000 in public subsidies are also required (Art. L. 612-4 Commercial Code).
- Groups: any controlling or controlled company within the meaning of Art. L. 233-16 C.com must appoint a statutory auditor if it exceeds 1 out of 3 thresholds individually.
Our statutory audit services in Paris#
Statutory audit of annual accounts#
The certification of annual accounts is the statutory auditor's core assignment. It provides shareholders, investors and third parties with reasonable assurance that the accounts give a true and fair view of the entity's financial position.
Our audit process follows a risk-based methodology (NEP 315):
- Entity understanding: business sector, regulatory environment, accounting system, internal controls
- Risk assessment: identification of material misstatement risks by accounting cycle (purchases, sales, cash, fixed assets, payroll)
- Audit plan: materiality threshold, targeted procedures focused on risk areas
- Field work: direct confirmations (circularisations with clients, suppliers, banks), sampling, control tests, analytical review
- Report issuance: unqualified opinion, qualified opinion or disclaimer of opinion
Management letter
Beyond the statutory certification report, we systematically deliver a management letter to directors, summarising internal control weaknesses identified, tax or employment risks detected, and recommended accounting and organisational best practices.
Voluntary appointment: a strategic advantage for SMEs#
Even when not legally required, appointing a statutory auditor voluntarily is often a worthwhile strategic investment:
- Improved bank creditworthiness: banks offer more favourable lending conditions to companies with audited accounts. The annual auditor fee is often lower than the savings achieved on credit margins.
- Faster fundraising: investors (business angels, venture capital funds) almost always require audited accounts before investing. Having a statutory auditor in place accelerates the due diligence process.
- Protecting share transfers: buyers often negotiate price reductions in the absence of an audit. Certified accounts protect the seller and support higher valuations.
- Public tender requirements: many public contracts and major client agreements require certified or audited accounts.
- Early warning procedure: the statutory auditor is legally required to trigger an alert when detecting facts that could compromise going-concern continuity, enabling early corrective action.
Specific audit assignments#
Contribution auditor (commissaire aux apports)#
When a company is incorporated or raises capital through in-kind contributions, the contribution auditor verifies that the value attributed to contributions is accurate and not overstated.
- In an SAS: always mandatory for any in-kind contribution regardless of value.
- In an SARL: exemption possible if contribution < €30,000 AND < 50% of capital, subject to unanimous partner agreement.
Our work includes: asset identification and description, selection and justification of valuation methods (comparables, DCF, market value), verification of absence of overvaluation, drafting of the contribution report for shareholders and the court registry.
See our guide: Contribution auditor: role, obligations and procedure
Merger and demerger auditor#
In restructuring operations (merger, demerger, partial asset contribution), we attest to the appropriateness of values and the fairness of the exchange ratio proposed to shareholders. Our work includes: analysis of exchange reports and company valuations, verification of valuation method consistency across entities, drafting of the report for general meetings, and coordination with corporate lawyers.
Transformation auditor#
When a company changes legal form (e.g. SARL → SAS), we certify that net assets are at least equal to share capital, protecting creditors and shareholders of the new legal entity.
See our guide: Transformation auditor: full guide
Acquisition audit (Financial Due Diligence)#
Before acquiring a business, a thorough financial due diligence identifies hidden risks and informs price negotiation.
Quality of earnings and balance sheet review#
- Quality of earnings: normalised EBITDA restatements, identification of non-recurring or one-off items (exceptional provisions, off-market rents, above-market director remuneration)
- Balance sheet review: net debt (including leases, factoring, shareholder loans), normalised working capital requirement vs actual, off-balance-sheet commitments (guarantees, outstanding litigation)
- Tax review: ongoing tax audits, reassessment risks, tax credits (CIR)
- Employment review: payroll compliance, tribunal exposure, leave and pension provisions
Due diligence report and price protection#
Our report provides prioritised key findings classified by risk level, price adjustment recommendations (escrow, deferred consideration), specific warranties to include in the asset and liability guarantee, and a first-100-days integration plan to secure the post-acquisition transition.
Common mistakes to avoid#
- Confusing accountant and statutory auditor: legally incompatible roles for the same entity by the same professional.
- Failing to appoint a required statutory auditor: criminal penalties for directors; general meeting decisions can be annulled.
- Changing auditors mid-mandate without legitimate cause: exposes the company to significant damages.
- Underestimating the value of voluntary appointment: lower borrowing costs and higher exit valuations often far outweigh the audit fee.
- Skipping the contribution audit in an SAS: a structural irregularity that can void the operation and expose founders to personal liability.
Practical examples#
Case 1 — Industrial SME, disposal at €3M#
We were engaged for pre-disposal due diligence on a 45-employee industrial SME. Our normalised EBITDA review revealed €350,000 of non-recurring items (exceptional litigation charges and excess provisions) and €120,000 of off-balance-sheet commitments (personal guarantee given to a shareholder). The disposal price was revised down by 7%, and the warranty specifically covered the identified tax risk. The buyer was protected; the seller avoided post-closing challenges.
Case 2 — SaaS startup, €2.5M fundraise#
A 3-year-old Paris tech startup (50 employees, €1.8M revenue) seeking to raise €2.5M from VC funds. Investors required audits of the last 3 financial years. Our voluntary statutory audit assignment certified the accounts and issued an unqualified opinion. The fundraise closed in 6 weeks — compared to the 4-month average for companies without an auditor.
Indicative fees#
| Assignment | Indicative fee (excl. VAT) |
|---|---|
| Statutory audit — SME (10–50 employees) | €4,500 – €9,000 / year |
| Statutory audit — mid-sized (50–250 employees) | €9,000 – €25,000 / year |
| Contribution audit (contribution < €500K) | €1,500 – €3,500 |
| Merger audit | €3,500 – €8,000 |
| Financial due diligence (acquisition < €5M) | €5,000 – €15,000 |
| Financial due diligence (acquisition €5M–€20M) | €15,000 – €40,000 |
Why choose Hayot Expertise?#
- CRCC Paris registration: Samuel HAYOT, signing auditor, is your direct contact throughout the engagement — no delegation to junior staff for key meetings
- Dual expertise: accounting + statutory audit under one roof for a complete financial and tax perspective
- Advanced technology: CaseWare (ledger data analytics) and Révisaudit for FEC import, enabling automated anomaly detection
- Sector experience: startups, regulated professionals, real estate, retail, associations
- Responsiveness: controlled timelines for urgent assignments (pre-sale due diligence, contribution audit during fundraising rounds)
- Multidisciplinary network: partnerships with corporate lawyers, notaries and valuation experts for complex operations
Questions frequentes
What is the difference between an accountant and a statutory auditor?+
An accountant assists the company in preparing its accounts and advises it. A statutory auditor independently verifies those accounts and certifies (or refuses to certify) that they are regular and accurate. These roles are incompatible for the same entity by the same professional under French law.
Can a statutory auditor be changed during their mandate?+
No, except for legitimate grounds recognised by the court or proven serious misconduct. The 6-year mandate protects auditor independence.
Does our association need a statutory auditor?+
If your association receives more than €153,000 in public subsidies, appointment is mandatory (Art. L. 612-4 Commercial Code). Above €3,000,000 in total annual resources, additional obligations apply.
What happens if we fail to appoint a required auditor?+
The absence of a required statutory auditor exposes directors to criminal penalties. General meeting decisions taken without a required auditor can be annulled. Immediate remediation is essential.
Can the statutory auditor detect internal fraud?+
Statutory audit is not a fraud detection engagement in the strict sense, but our risk-based approach identifies internal control weaknesses that create fraud opportunities. Where fraud indicators are found, we apply additional audit procedures and inform directors (or judicial authorities if required).
How much does statutory audit cost for an SME?+
For an SME with 10 to 50 employees, fees typically range from €4,500 to €9,000 excl. VAT per year, depending on business complexity, number of sites, transaction volume and the quality of internal accounting.
Can appointment happen mid-year?+
Yes, appointment can occur at any time by general meeting decision. The mandate takes effect on the date of appointment and runs for 6 complete financial years.
Frequently asked questions
What is the difference between an accountant and a statutory auditor?
Can a statutory auditor be changed during their mandate?
Does our association need a statutory auditor?
What happens if we fail to appoint a required auditor?
Can the statutory auditor detect internal fraud?
How much does statutory audit cost for an SME?
Can appointment happen mid-year?
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Article written by Samuel Hayot
Chartered Accountant, registered with the Institute of Chartered Accountants.
Regulated French accounting and audit firm based in Paris 8, built to support companies across France with a digital and decision-oriented approach.
A regulated French firm built for national business demand
This page keeps the Paris 8 anchor while clearly speaking to companies across France that want a more direct, digital and decision-oriented accounting partner.
Regulated firm
Samuel Hayot is a French chartered accountant and statutory auditor registered with the Paris professional bodies.
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The firm is based in Paris 8 and operates with a delivery model designed for businesses located across France.
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