The periodic review of the veracity of supporting documentation means a new task for the OGAs (centers and organizations of authorized management, mixed organizations of authorized management) and accounting experts with the necessary fiscal authorization (CGI art. 1649 quater E, art. 1649 quater H and art. 1649 quater L)
The aim of this practice is to ensure that the presented financial declarations are correct without initiating a fiscal (LPF art. 12) or accounting inspection (LPF art. 13) (CGI art. 1649 quater E and quater L; CGI ane. II art. 371 E modified, 371 Q modificado, 371 Z sexies nuevo y 371 bis F modified).
The review follows the methodology established by the OGAs and accounting experts for their clients in accordance with a decree yet to be released, containing the following principles:
– The review needs to be carried out every three years by the OGAs or accounting experts when the company’s accounts are not audited or presented annually by a professional accountant
– If the company’s accounts are audited and annually presented the veracity control needs to be carried out every six years by an OGA
The selection of the documents to be reviewed would offer a detailed overview of the company’s operations and the number of records would depend on the volume of the enterprise. The review would never be presented to the Administration – it can be even destroyed by the OGAs once the processes finished.
The assessment furthermore needs to be documented in a report that would be sent to the partners and clients within two months of being concluded.
Finally, the OGAs cannot subcontract the document validation to accounting experts or lawyers who provided services to the client in the fiscal year being reviewed.