Article R. 823-21 of the French Commercial Code requires that Statutory Auditors appointed vis-à-vis listed companies prepare a transparency report as presented below :
1. Presentation of the firm
1.1. Legal structure
A French simplified joint-stock company (Société par actions simplifiées) with share capital € 200,000 held by four partners.
– FIDUCIAIRE HAUSMANN for small sized French companies
– VACHON ET COMPAGNIE for subsidiaries of foreign companies.
1.2. Network
VACHON ET ASSOCIES is not a member of any national or international network.
1.3. Management of the company
M. Bertrand VACHON manages the company.
2. The firm’s risk management
2.1. Independence
The firm has set up an independence procedure that has been signed by the employees acting as auditors as well as a specific assignment acceptance and maintenance procedure. We certify that internal control of the independence procedure of the firm has been made.
2.2. Internal control
A document describes the firm’s internal procedures.
2.3. Quality control;
– Internal
The partners control the quality of assignments as part of the general supervision of files. In fact, each Manager has the skills needed to carry out his assignment. The partners are permanently involved in assignments, in particular, in solving complex problems, in handling clientele relations, in holding synthesis meetings as well as in writing reports. We certify the efficiency of the internal procedures regarding the quality control of the firm.
– Independent review
Whenever needed, files, especially those of listed companies are subjected to an independent review.
2.4. Last quality control (Article R. 821-26 of the Commercial Code)
Control conducted by H3C (Haut Conseil du Commissariat aux comptes) (2012 campaign). Synthesis report of 13 March 2014.
3. Clients
3.1. Revenues
The revenues of VACHON ET ASSOCIES and its subsidiaries break down as follows :
– Audit
– Accounting services and other assignments
3.2. List of listed Entities that have been audited
– YMAGIS SA
4. Human resources
4.1. Colleagues
The firm and its subsidiaries have about 40 colleagues, most of whom are involved in Accounting and Audit services.
4.2. Partners
The firm’s four partners are Statutory Auditors, Chartered Accountants and Certified Public Accountants (USA).
Fee basis of partners: the partners are paid on their production.
4.3. On going training
The firm’s colleagues receive technical training within or outside the firm depending on their experience.
Furthermore, we certify compliance with legal obligations relating to professional training (article L. 822-4 and R. 822-61 of the Commercial Code).