Statutory auditor independence in commercial companies

To function properly, a trading company must be audited by outside professionals whose independence is beyond doubt. It is in this context that the institution of a statutory auditor was deemed necessary. Indeed, a commercial company may experience difficulties with its corporate accounts during its lifetime. In such cases, the appointment of a statutory auditor is important to ensure the transparency, sincerity and regularity of the company's financial statements. To guarantee the reliability of the financial statements, the statutory auditor must be independent of both the company being audited and its directors.