Accounting in France has a number of original features by comparison with accounting in anglophone countries, despite the advance of European and international standardization. Since 1946, standard-setting has been the prerogative not only of professional accountants but also of all those who have an interest in accounts, including businesses, government agencies, trade unions, and banks, and is carried on by the Conseil National de la Comptabilité. Accounting standards are brought together in an accounting chart, the plan comptable général, which is used by all businesses and other bodies. Furthermore, public accountants and auditors must belong to one or other of two government sponsored bodies: the Ordre des Experts Comptables (for accountants) and the Compagnie des Commissaires aux Comptes (for auditors).

Financial reporting by listed companies is supervised by the Commission des Opérations de Bourse (COB). The COB is very influential in accounting regulation and has extensive powers. Listed companies must submit their choice of auditor to the commission for approval, and it has access to files of peer reviews carried out on audit firms. Accounting in the public sector is different from that in the private sector in all respects, including principles, methods and people. National accounting, the concern of the Institut National de la Statistique et des Ütudes Üconomiques (INSEE), has developed its own principles and concepts, which are different from those to be found in the public and private sectors.

Taxation has been and still is a major influence on accounting in France. Since the mid-1970s, however, the financial markets have played a growing role in determining the principles and functions of French accounting.

Jean-Claude Scheid