PRESS RELEASE
27
th
May 2015
PUBLIC FINANCES AND ACCOUNTS
CERTIFICATION OF THE FRENCH CENTRAL
GOVERNMENT FINANCIAL STATEMENTS FOR
THE YEAR 2014
The
Cour des comptes
–
French Supreme Audit Institution
–
hereby issues its audit opinion of the French
Central Government Financial Statements for the year 2014, prepared in accordance with Article 58 of the
Constitutional Bylaw Governing Finance Acts (LOLF).
The
Cour des comptes
certifies that the French Central Government Financial Statements for the year
2014 are, according to the applicable accounting rules and principles, consistent and sincere, and give a
fair and accurate view of the Central Government financial situation and assets, with the exception of five
substantial qualifications.
France is one of the very few nations in the Euro zone to have committed, with the LOLF, to certification
of its
Government’s
accounts by a totally independent external auditor. This approach is a distinct
advantage.
The
Cour des compte
s observes a steady improvement in the quality of the Central Government
financial statements
In 2014, despite persistent difficulties caused mainly by the financial information system and the organisation of
management processes, the Government improved in every area. In some cases, this progress led to satisfactory
solutions to the findings made in previous financial years.
These improvements enable the
Cour des comptes
to remove 37 sections of the five qualifications issued on the
2013 financial statements. However, none of the five qualifications was removed in full.
Five substantial qualifications remain on the 2014 financial statements
1.
The Central
Government’s financial information system is still insufficiently suited to general accounting and
auditing requirements.
2.
The ministerial internal controls and audits are still significantly lacking in effectiveness.
3.
The accounting of the Central Government tax income and the associated payables and receivables is still
hindered by uncertainties and significant restrictions.
4.
Considerable uncertainties are still adversely
affecting the inventory and valuation of the Defence Ministry’
s
inventories and fixed assets, as well as the associated liabilities.
5.
The valuation of the Central Government’s financial assets continues to suffer from signific
ant uncertainties.
To read the full report click here
PRESS CONTACTS:
Ted Marx
Head of Communication
T
+33 (0)1 42 98 55 62
tmarx@ccomptes.fr
Denis Gettliffe
Head of Press Relations
T
+33 (0)1 42 98 55 77
dgettliffe@ccomptes.fr
@Courdescomptes