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23/02/2014 PROFILE > Expert-comptable , Commissaire aux comptes

CNCC: Should SNCs draft and publish consolidated accounts?

Should an SNC draft consolidated accounts?

Yes. SNCs do not fall within the scope of exemptions for which provision is made by (art. L 233-17 of the Commercial Code) and should take due account of its holdings in an SCCV to appreciate the thresholds related to the obligation of consultancy. Failing this, auditors should identify this criminal act to the Prosecutor of the Republic and notify this irregularity at the forthcoming general meeting.


Should SNCs publish consolidated accounts (filed with the registry office)?

No, not in the present instance. As members of an SNC are physical persons, they are not subject to the obligation to file with the registry office any annual or consolidated accounts. However, it is reiterated that only SNCs whose members are limited liability companies or joint stock companies are bound to register their consolidated accounts with the registry office (art. L 232-21 of the Commercial Code).


Should an SNC inform members?

Yes. Consolidated accounts, when drafted, should be notified to members (art. L 221-7 of same Code)


Should SNCs appoint two auditors?

No. Only people and entities subject to filing consolidated accounts should do this. Even if SNCs may be led to draft consolidated accounts, they are not obligated to appoint at least two auditors(art. L 823-2 of same Code)