Relations entre l’AMF et les commissaires aux comptes des SGP et des OPC : l’AMF et la CNCC publient un guide

The AMF and the CNCC have jointly published a Guide to relations between the Autorité des Marchés financial officers and the auditors of the asset management companies and undertakings for collective investment (only available in French) that clarifies the relationships between auditors of UCIs and AMCs, and the AMF.
The purpose of this guide is to aid auditors of AMCs and UCIs in comprehending the framework of their relationships with the AMF. The document aims to inform auditors about the purpose and procedures of these exchanges, without substituting or supplementing the current legislative or regulatory provisions. The guide emphasizes the auditors‘ obligations to provide information to the AMF and identifies circumstances where auditors are released from their professional secrecy obligations. It also formalizes the nature and methods of exchanges between auditors and the AMF, clarifies the expected scope and content of information returns, and outlines the reporting obligations of auditors. Finally, the guide proposes a model for accompanying documents for the reporting of AMC auditors in line with Article L.621-23 of the MFC.
Furthermore, according to Article L.621-25 of the MFC, the AMF is authorized to question statutory auditors about the compliance of AMCs with their professional obligations. Therefore, the AMF intends to consult AMCs‘ statutory auditors on an annual basis. The feedback received from the auditors will not lead to additional due diligence and will not influence their work. The AMF proposes a standardized framework for gathering information, in the form of an annual questionnaire that will be sent to the statutory auditors of AMCs. The responses to the questionnaire can be sent to the dedicated email address: CAC.DGA@amf-france.org.