Statutory audit is a legal audit of the company. The auditor (or external auditor) is responsible for verifying the fairness of the financial statements of the Company or the Institution. In Tunisia, several texts regulate the mission of statutory audit, such as:
Law No. 2002-16 of February 4th, 2002 on the organization of the profession of accountants.
Law No. 88-108 of August 18th, 1988, on the recasting of the legislation relating to the profession of chartered accountant.
Law n ° 2000-93 of November 3rd, 2000, promulgating the code of the commercial companies.
Order of the Minister of Finance of July 26th, 1991, approving the Code of Professional Duties of Chartered Accountants.
Order of the Minister of Finance and the Minister of Commerce dated February 28th 2003, approving the scale of fees for the auditors of the accounts of enterprises in Tunisia.
When the appointment of an auditor is not made mandatory by the laws, it can be voluntary and decided by the management bodies of the company.
The auditor must be appointed from among the accountants entered on the roll of the order of accountants of Tunisia if two of the limits relating to the balance sheet total, the total of tax-free products and the average number of employees as fixed by Decree are fulfilled.
In the event that these quantified limits are not met, the auditor is appointed either among the accountants registered on the roll of the order of accountants of Tunisia, or among the accounting specialists registered on the roll of the accounting firm of Tunisia.
The decree setting these limits is Decree No. 2006-1546 of June 6th 2006, implementing the provisions of Articles 13, 13a, 13b, 13c and 256a of the Commercial Companies Code.