PRESS RELEASE
17 April 2024
FINANCE AND PUBLIC ACCOUNTS
CERTIFICATION OF STATE ACCOUNTS
2023 financial year
The Court of Accounts publishes the certification of the State's accounts, drawn up each year
in accordance with Article 58 of the Organic Law on Finance Acts (LOLF).
Subject to the impact of the issues described in the "Basis for qualified opinion" section of
its report, the Court hereby certifies that, in the light of the accounting rules and principles
applicable to it, the State's general account for financial year 2023, closed on 10 April 2024,
is true and fair and gives an accurate view of the State's financial position and assets and
liabilities.
An analysis of the State's financial position at the end of 2023 based on the State's general
account is presented by the Court in a note published separately.
Five material anomalies affect the State's accounts for 2023 (compared with four for the 2022
accounts):
•
Military equipment is over-valued by at least €3 billion (out of €44 billion), while no
provision has been made for "major maintenance" and "major repairs" (at least
€3 billion);
•
the State's stake in EDF is overvalued by €12bn (out of €60bn);
•
the State's stake in
Caisse des Dépôts
(€24bn) is undervalued by €28bn;
Fonds d'Epargne
continues to be wrongly classified as a State investment (€8bn);
•
The notes to the financial statements do not mention certain off-balance sheet
commitments made by the State as shareholder, in particular the commitment to
guarantee Bpifrance's debt up to €45bn;
•
the commitment made by the State to repay the loan issued by the European Union to
finance the European recovery plan, which is separate from the commitment made
under the multiannual financial framework of the EU budget, is not included in the list
of commitments given. This can be estimated at €75bn
(new reservation point)
.
The Court also noted the absence of sufficient appropriate evidence on which to base its
opinion on eleven items in the financial statements (compared with thirteen for the 2022
accounts), for which the risk of material misstatement cannot be ruled out:
•
the value of property assets;
•
the value of the road network;
•
the value of assets related to weapons programmes;
•
the value of military stocks;
•
the value of certain financial holdings;
•
the value of tax receivables;
•
provisions for decontamination and asbestos removal obligations;
•
the cost of energy intervention schemes;
•
the amount of expenses paid by operators on behalf of the State;
•
the amount of tax revenue;
•
the amount of the State's commitment in respect of loans guaranteed as part of the
health crisis.
In total, one new reservation point was identified and two old reservation points were
considered resolved by the Court.
The Court points out that, for the second time since 2006, the year in which it began its
certification mission, the State accounts on which it has issued its opinion were drawn up and
closed without a Finance Act having approved the accounts for the previous year, in accordance
with Article 37 III of the Organic Law on Finance Acts of 1 August 2001.
Read the report
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T
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julie.poissier@ccomptes.fr
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Press Relations Officer
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+33 (0)6 50 86 91 83
sarah.gay@ccomptes.fr
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