Annual Legal Obligations

Approval of annual accounts

A complete review of the company once per year with its attorney

Each year, all companies, whether their activity be commercial, artisan, independent professionals or non-commercial companies, whether they be active or dormant, are required to organize a meeting of the shareholders in order to approve the annual accounts and generally render an opinion regarding the results achieved by the company.

The specific nature of the documents to be drafted requires the intervention of a member of the legal profession, but for Thémis the primary task is to advise the shareholders and management regarding the legal, accounting and fiscal repercussions, on both the collective and personal levels, of their decisions (distribution of profits, placing of sums in reserves) in order to optimize these decisions.  Thémis also sees to the respect of the company’s legal obligations, in light of its size and structure (consultation of personnel representatives, offers to the company’s personnel to purchase shares in the company…).  It also implements all one-time obligations linked to a specific situation (considerable financial losses, for example).

The analysis of the annual accounts, during this annual meeting and its preparation, permits the attorney to assist the managing director in anticipating certain challenges for the company

This annual meeting must therefore be anticipated by drafting certain preparatory legal documents which are the chief executive’s responsibility (primarily reports on the company’s activity over the past year and on the agreements concluded between the company and its executives), which must be sent to the shareholders in advance.

Depending on the company’s needs, a register of the shareholders’ attendance must be prepared and in all cases minutes of the decisions voted must be drafted and entered into a register of decisions which must be maintained up-to-date.

Companied which have a statutory auditor are also required to provide to him full information concerning the annual accounts and to allow him to draft a report on these accounts prior to the meeting.

The analysis of the annual accounts, on the occasion and in preparing this annual meeting, permits the attorney, in conjunction with the company’s certified public accountant, to assist the managing director in anticipating certain challenges for the company (the retirement of the chief executive or of a key member of the staff, the renewal of a commercial lease, the feasibility of a development project, monitoring of the company’s evaluation with a view to its sale at the best time…).  This is a prime opportunity to perform a complete review of the company, with full knowledge of its precise financial situation.

Thémis also handles all the mandatory statements and formalities (filing of accounts with the Commercial Court, tax statements of the dividends distributed).


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