{"id":650,"date":"2023-10-17T10:30:59","date_gmt":"2023-10-17T08:30:59","guid":{"rendered":"http:\/\/ahhjgrk.cluster028.hosting.ovh.net\/?page_id=650"},"modified":"2023-12-12T18:03:36","modified_gmt":"2023-12-12T17:03:36","slug":"transparency-report","status":"publish","type":"page","link":"https:\/\/www.serval-associes.eu\/en\/transparency-report\/","title":{"rendered":"Transparency report"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"650\" class=\"elementor elementor-650\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6229552 e-flex e-con-boxed e-con\" data-id=\"6229552\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8c84fb5 elementor-widget elementor-widget-text-editor\" data-id=\"8c84fb5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h3>Transparency report<\/h3><p>Management believes that it is appropriate to establish a transparency report for the well-being of our existing clients. As well as for the company\u2019s ambitions and development in order to give clients, third parties, partners and correspondents a clear view on the key characteristics of its organization, ethical references and the specificity of its practice model.<\/p><p>\u00a0<\/p><h3>General Structure<\/h3><p>Groupe Audit - Constantin - Serval &amp; Associ\u00e9s is an integrated network that intervenes only in countries that comply with and accept the rules of OECD, where legal systems operate and \/ or the majority of the economic activity and the majority of enterprises operate freely and without contact with whatever kind of financial or business corruption exists. It also limits its territorial scope so that the selection of clients is possible without any deficiency towards this compliance and remediation can be considered if discovered.<\/p><p>Groupe Audit, a soci\u00e9t\u00e9 anonyme (corporation) as per French law, It is registered with the Court of Appeal of Versailles and the Compagnie R\u00e9gionale des Commissaires aux Comptes\u201dCRCC\u201d of Versailles \/ France,  the Ordre des Experts Comptables de Paris Ile de France \u201cOEC\u201d.<\/p><p>Serval &amp; Associ\u00e9s is a SAS as per French law, registered with the CRCC of Versailles, France, and with the OEC Paris, France.<\/p><p>Constantin - Serval &amp; Associ\u00e9s Singapore is a Limited Liability Partnership\u00a0<\/p><p>Groupe Audit Belgium is a SA as per Belgian law registered as R\u00e9viseur d\u2019Entreprises with the Belgium profession (Belgian Institute of Certified Auditors (IRE\/IBR)<\/p><p><span style=\"text-align: var(--text-align); background-color: transparent; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight );\">Groupe Audit Op\u00e9rationnelle (Belgium), is in registering process as R\u00e9viseur d\u2019Entreprise to be the coordination center for whole group activities in the Benelux countries.<\/span><\/p><p><span style=\"background-color: transparent; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); letter-spacing: var( --e-global-typography-1b47f9f-letter-spacing ); word-spacing: var( --e-global-typography-1b47f9f-word-spacing );\">Constantin Services a US LLC coordinating the US activities\nConstantin Associates CPA LLP registered with the Board of Education of New York State.<\/span><\/p><p>CGEC Serval &amp; Associ\u00e9s, an audit and accountancy company as per French law, registered with the Court of Appeal of Paris and  the CRCC of Paris and the OEC of Paris, Il de France<\/p><h3>International Organization<\/h3><p>All above mentioned entities can fulfill services in their respective countries, and are subject to some restrictions such as countries corresponding to the zone to which their registration belongs (European Union or ASEAN). They are linked together by a network agreement that commits them among other constrains to work according to IFAC code of Ethics and subjects them to the same rules of quality review, pool their methodological basis, and comply with the same ethical internal policies as if they were all located in the same place.<\/p><p>\u00a0<\/p><h3>Financial information<\/h3><p>The group will publish consolidated financials for 2016. For 2015 main financial aggregates were as follows:\u00a0<\/p><p>Stockholders\u2019 equity of Groupe Audit                     23.5 million euros<\/p><p>Net income of 2015                                                     3,5 million euros<\/p><p>Global staff of professional accountants                 160 (that does not include the 2.000 professional staff available with correspondents)<\/p><p>The assets of entities are only owned by professionals working with the group and are registered as a financial auditor or an official list of a professional organization, member of IFAC.\u00a0<\/p><p>Toutes ses filiales sont b\u00e9n\u00e9ficiaires ;<\/p><h3>Independence, Ethic and reputation<\/h3><p>The group follows procedures of client\u2019s acceptance and uses a global software intended to locate any possible breach of independence or conflict of interest.\u00a0\u00a0<\/p><p>Each engagement partner and manager is individually committed with regards to both the Group\u2019s global Ethics policy and the assignment regarding independence and absence of conflict<\/p><p>The group pays great attention when analyzing the submitted audit files to independent reviewers so that it does not carry any risk, in terms of technical or reputational risk.<\/p><p>\u00a0<\/p><h3>Absence of legal matters that can disturb reputation, group equilibrium, or threaten its independence<\/h3><p>We do not have any information about legal matters that may exist or could be opened that may jeopardize the quality of our signature or reputation.<\/p><h3>Quality Control<\/h3><p>In order to comply with professional IAS or GAAS rules for audits, audit files are checked by an internal quality group that guarantees the correct documentation of our opinions. The quality control system comprises a hierarchical control as well as intervention of professionals from outside the group.\u00a0<\/p><p>\u00a0<\/p><h3>Values and Education-Hiring<\/h3><p>Ethics, standards and independence are old songs in the professional literature in general, of professional bodies, surveillance authorities and standard setters more specifically. The excessive repetition of these words withdraws to most of their own strength.\u00a0<\/p><p>To avoid such a perverse effect in a context where the public witnesses the fatuity of such good intention, only a voluntary policy to reach the effectivity and efficiency value goals can be followed. In this respect, the Group believes that if such wordings can be used and are necessary, they are often far away from their meaning in field realities and transactions conducted by the audited clientele especially when considering the prevailing institutional environments. This situation adds to the discredit in which the public holds the audit profession in many countries.<\/p><p>The group believes that only moral and technical education within the sociologic environment can contribute to winning the challenge. To insure our growth, we only hire current and future management who have graduated from engineering schools or have earned MBAs from prestigious universities or the international equivalent. We emphasize recruiting from those schools with limited numbers of students where pressure to recruit does not exist and where tuition fees are not criteria for attending.<\/p><p>\u00a0Adapted merit and competence fitting the requirements as well as taking professional exams and prior experience in a public service context are just prerequisites requested from candidates. Additionally, capability to communicate orally and in writing in the vernacular used by the audited persons, enterprises or authorities is requested. French, German, Mandarin and English are requested from any candidate when unsure if they should learn Mandarin for Asia or German for the United States or Europe.\u00a0<\/p><p>\u00a0By exception, candidates with wide experience but without aforementioned criteria can be hired from other recognized professionals whom are known for training their staff very well.<\/p><p>\u00a0<\/p><h3>Commitments<\/h3><p>The group is a member of the Forum of Firms \u201cFOF\u201d (a IFAC arm see site) that is composed of 29 practices actively operating financial auditing for international entities. The goal of the\u201d FOF\u201d is to improve the quality of audits. Members firms commit to comply with IAS (international standards) for audits and with the IFAC code of Ethics Therefore, Groupe Audit \u2013 Constantin-Serval &amp; Associ\u00e9s establishes a compliance report every year.<\/p><p>\u00a0<\/p><h3>Directors\u2019 remuneration<\/h3><p>To assure independence of professional judgement, the directors\u2019 remuneration is essentially composed of a fixed sum that may be slightly modified each year to which a variable part may be added, but it is never based on the margin realized with a client\u2019s file. Furthermore, no partner is dependent of a reduced number of orders that would represent more than 5 % of the entity\u2019s activity to which he or she is retied and to the section in that he has a role as animator, if he or she is associated partner or not.\u00a0\u00a0<\/p><h3>Group\u2019s Evolution<\/h3><p>Already signed audit contracts are presenting a strong positive outlook with first rank companies on an international level. The group leads major research activities destined to modify in substance audit procedures and their efficiencies, such as audit procedures still applicable. They are destined to move away from domestic procedures.<\/p><p>The group is publishing articles in financial press and publishing books with well-known international publishers about the evolution of rules that lead the financial world in particular, rules of accountancy records, supervision and reporting. That is how the group contributes to the performance of its clients and their financial security.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>RAPPORT DE TRANSPARENCE Il est apparu \u00e0 la direction de Groupe Audit qu\u2019il convenait qu&rsquo;un rapport de transparence soit n\u00e9anmoins \u00e9tabli compte tenu de la qualit\u00e9 de la client\u00e8le de soci\u00e9t\u00e9s priv\u00e9es ou\u00a0 faisant appel public \u00e0 l\u2019\u00e9pargne pour lesquelles il intervient\u00a0 et du r\u00f4le de leader mondial dans leur secteur qui est souvent le&#8230;<\/p>","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_kad_post_transparent":"","_kad_post_title":"hide","_kad_post_layout":"fullwidth","_kad_post_sidebar_id":"","_kad_post_content_style":"unboxed","_kad_post_vertical_padding":"hide","_kad_post_feature":"hide","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"class_list":["post-650","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/pages\/650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/comments?post=650"}],"version-history":[{"count":14,"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/pages\/650\/revisions"}],"predecessor-version":[{"id":1529,"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/pages\/650\/revisions\/1529"}],"wp:attachment":[{"href":"https:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/media?parent=650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}