Key takeaways
- Every société anonyme appoints a statutory auditor, whatever its size.
- For other forms, the obligation arises when revenue exceeds MAD 50 million.
- Banks, listed companies and insurers appoint two joint statutory auditors.
Which companies are concerned
Law 17-95 requires every société anonyme to appoint at least one statutory auditor, regardless of size. For SARLs and the other forms governed by Law 5-96, the obligation applies once annual revenue exceeds 50 million dirhams excluding tax — voluntary appointment remaining possible below that threshold.
Listed companies, banks and credit institutions, and insurance companies face a reinforced requirement: two statutory auditors acting jointly.
Appointment and term
The statutory auditor is appointed by the ordinary general meeting for a three-year term. They must be registered with the Moroccan Institute of Chartered Accountants and comply with the profession's independence and ethics rules: identifying threats to independence and applying the appropriate safeguards.
The engagement
The auditor's permanent mission is to certify that the financial statements are regular and sincere and give a true and fair view of the company, reporting to the general meeting. They also perform specific verifications — regulated agreements, equal treatment of shareholders — and are bound by reporting obligations provided by law.
The value of this certification rests on one thing: the auditor's independence, free of any conflict of interest with managers or directors. That is what gives the accounts their credibility with shareholders, banks and investors.
This article provides general information based on Moroccan regulations at the date of publication. It does not constitute personalised advice — rates, thresholds and rules change with each Finance Act. Contact the firm to review your specific situation.