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6 April 2020

COVID-19 – Approval of financial statements – Ordinance no. 2020-318 of 25 March 2020

Of the 25 ordinances issued by the government in the context of the Covid-19 outbreak on 25 March 2020, two specifically concerned corporate law.

The first introduced flexibility concerning the holding of general meetings and other corporate bodies of legal persons or other entities (see our previous publication on the subject). The idea here was to avoid a blockage in the functioning of companies during containment.

A second ordinance – No. 2020-318 of 25 March 2020 – aims this time to adapt the rules on the preparation, closing, audit, review, approval and publication of the financial statements of these same legal persons or entities, by extending the applicable deadlines. It enables companies to alleviate difficulties in preparing financial statements and/or auditing during the period of the health emergency.

The scope of application is very broad and concerns any private law entity, with or without legal personality (civil and commercial companies, EIGs, cooperatives, mutuals, associations, foundations, sociétés en participation, etc.).

Marc Stehlin, Cyrille Boillot, Armelle Maître and Svetlana Tokoucheva, partners in charge of the corporate / M&A department within Stehlin & Associés, invite you to acknowledge their latest newsletter in this respect.

COVID-19_Corporate Newsletter_Approval of financial statements – Ordinance No. 2020-318 of 25 March 2020_06 04 2020