Professional accountants in business: What's new in France?
Eric Freudenreich, PAIB, CFE, CIA, CRMA, COSO, CMP
Professional Accountant in Business | President ece.asso.fr | PAIB Advisory Group Member @IFAC | Independent Non-Executive Director | Teacher @paris_dauphine | Trainer @ifaci_officiel
Since the PACTE law promulgated in 2019, French Professional accountants in business (PAIB), are allowed to register at the CSOEC (The French institute of professional accountants hereafter reffered to as The Institute). This provision reinforces the climate of confidence and the quality of the exchanges between all the professional accountants, whatever their mode of exercise. The first concerned are the financial directors, controllers, consolidation or reporting managers and, of course, the accounting directors in organizations of all sizes.
"We interviewed professional accountants in business to find out how they are managing this COVID-19 crisis"
reports Philippe Sauveplane, Vice-president of the Institute and President of its PAIB Committee and Eric Freudenreich, Vice-president, himself employed by an oil and gas services group.
"Their fight in the same way as their fellows in practice, to ensure the continuity of the business of their organization. They will find themselves taking away valuable information from the "SOS Coronavirus" file dedicated to support measures, made available to them on the private part of the Institute's website."
Several of them said that they appreciated the thematic files and the FAQs that saved them time and reliability. This is how the Template of the Notes regarding the impact of covid-19 to the financial accounts ending December 31, 2019 was acclaimed and could even be used in all of the financial entities of a group.
Like nearly one in two employees in the private sector, professional accountants are also facing a drop in activity and their Organizations are then recoursing to short-time working. When they are personally impacted by these measures, they take time to follow the e-learning modules offered by the Institute and its training Organization (named CFPC) to the professional accountants in practice and their employees during confinement in order to promote the acquisition of new digital skills.
"This proves adaptability, the ability of accountants to seize opportunities and evolve in a changing world"
as Eric Freudenreich likes to remind us.
"These exchanges are quite revealing of the added value that the accounting profession in its complementarity brings to the French Economy"
concludes Charles-René Tandé, Chair of the Institute.
?? Free translation in English of an Excerpt from Interview of Mr. Tandé by Mr. Farnoux- read interview here
??About French PAIB : www.experts-comptables.fr/expert-comptable-en-entreprise
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4 年Certes Eric, Les sociétés qui ont un vrai savoir faire, Des femmes et des hommes de valeur, Continuent à mettre en oeuvre les business plans définis, Certes ceux qui nous gouvernent sont non seulement responsables à 100% de la crise du corona et économique en confinant à 100%, Ceux qui nous gouvernent profitent aussi du corona pour des nouvelles opportunités de business avec big pharma, Je ne comprends pas les opportunités corona dont tu parles !!?????????
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4 年Our profession is a fast-growing sector and deserves all our attention when it comes to business partnership, especially during a global crisis and with new players on the chess. In my opinion, French PAIB + practising CPA is the winning hand to help our companies to rebuild our economy. I am happy to see dedicated people on this matter, and I wish you the best to achieve a strong and peaceful communion ????????????
Président I CEO - Grant Thornton France
4 年Well done for all the hard work on this. There's so much benefit from regular discussion with accounts in industry. We're all working in the same direction and this now helps close a gap that previously dampened the profession in France. Thanks for sharing Eric and Charles René
Conseiller
4 年We have expected this law for such a long time ! I am very happy it occurs while Eric is president of the unique association of french chartered accountants in Industry. We all appreciate his involvment and enthousiasm. I am sure he will keep on giving competence and energy for the benefit of the whole profession at national and international levels.
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4 年Glad see the accountancy profession come together in France