The use of independent experts has constantly increased over the last decade. This trend continues as the identification and management of conflicts of interest are now identified as key to best governance practices.

We act as independent experts in the following situations:

• market transactions in compliance with articles 261-1 and other requirements of the AMF (French financial markets regulator for takeover bids etc.),
• representation of the board of Directors when specific rules require shareholders’ involvement, in compliance with AMF regulations and governance guidelines such as Euronext Access, etc.,
• independent assessment required by contract provisions, shareholder agreements or regulatory requirements, for example for security transfers between investment vehicles managed by the same fund manager, valuation of employee share holdings (FCPE) for unlisted companies, etc.

Advolis Orfis has created a department specializing in valuations. Qualifications include Masters in Evaluation and Transfer, Masters in Financial Engineering, business management diplomas, and chartered financial analysts. Our partners and colleagues are members of professional associations including the association for independent experts (APEI and A3E), and the valuation committee of the French professional organization for chartered accountants (CNCC). They participate in working groups and stay current about the latest practices.

We have financial tools and databases which provide us with an autonomous and independent access to market information.

Appointed by a judge, the legal expert provides technical insight into factual aspects of a case in relation to his or her assignment. Beyond possessing a level of expertise which justifies their position of authority, they must display strict partiality.

Nominated by one of the parties in an existing or anticipated litigation, the expert intervenes as the representative of that party but must remain independent.

One of our partners is registered as an official expert with the Paris Court of Appeal, and we are able to draw on our various specializations to represent our clients as experts while we:

• assess the financial stakes of the litigation
• estimate the financial risk, using data analytics tools or valuation techniques
• take part in expertise meetings as experts representing our client
• prepare technical notes or court reports

In an economic environment dominated by uncertainty, the audit becomes a key element of the relationship of trust between the company and its stakeholders.

Our audit practice benefits from years of excellence and is recognized by our clients for its objectivity and its independence. We rely on best practices to specify the processes and rules which we follow to perform our audits and we use the latest data analysis technologies whenever necessary to support our work.

With our proven ability to deliver in challenging circumstances, we can guarantee that for each assignment in relation to an audit or the certification of consolidated annual accounts, you will benefit from:

• thorough understanding of your operational and financial issues,
• efficient interaction with the relevant authorities,
• the extensive skillset of Advolis Orfis in data analytics, IT management, consolidation reporting, and valuations,
• a broad knowledge of the IFRS framework and our pragmatic approach when dealing with each specific transaction,
• our ability to rely on our international partners from the Allinial Global association,
• our experience working with other professionals such as lawyers and technical experts and cooperating with business partners on joint statutory audits.

Beyond the specific approach chosen for an audit, which in the case of accounts certification will need to follow the norms defined by regulators, our differentiating factor is the personal involvement of the partners of the firm and their commitment to integrate into our work the nature of your activities as well as the expectations of your governing bodies.

The experience of Advolis Orfis in the field of audits for contributions (an asset to be valued prior to being transferred to the balance sheet) and mergers has allowed us to develop a vision for what best practices should be, bringing together our skills in a number of areas, including company law, accounting, taxation, organisation of accounting systems and, of course, valuation.

We have a dedicated valuation department. To keep informed of the latest practices, our partners and colleagues are members of professional associations, participate in working groups, and contribute to reference publications.

Advolis Orfis prides itself on its independence and the authoritative nature of its work stems from the skills of its partners and colleagues. The work we do for our clients is tailored to their own environment and to the specific operation they want to perform (internal restructurings, complex operations), be it local or at the national level. We intervene in most industries.

A monitoring trustee generally acts on behalf of a national competition authority to control the implementation of commitments made by companies in relation to anti-competitive practices or the use of state aid.

The work performed by the trustee varies depending on the circumstances, whether it relates to structural commitments (asset sales) or behavioural commitments (organizational or contractual arrangements). The trustee may also be nominated as a divestiture trustee in cases where the sale of assets proves difficult.

Our teams’ proven expertise is based on many years of experience and over a hundred assignments for European and global competition authorities. We work with companies to anticipate difficulties with specific commitments and to actively contribute to ensuring commitments are met.