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March 30, 2015
Testing tool for FEC (Fichier d'Ecritures Comptables) audit file
Frederic Portal, Ataway Director of Strategy & Alliance

Since January 1, 2014, statutory rules in France require all companies subject to tax in that country and under audit by French tax authorities to produce audit documentation in the prescribed electronic format. This FEC (Fichier d'Ecritures Comptables) audit file is to contain data of all accounting transactions for a given fiscal year for certain products (Article L.47 AI of the Tax Procedure).. Even if you have not been notified of a tax audit, you should create and archive such files and make them available to auditors when asked for them. Some large companies are permitted to report balances on a summarized level, without providing transaction details.

PeopleSoft delivered this files, more information could be found in Generating French FEC Audit Files

These files journal entries must meet the standards codified in Section A.47 A-1 of the Tax Procedure .

To assist companies in the context of this new procedure, the DGFIP makes available a software that enable your organization to monitor the compliance of your file with the standards. The software is available for free download on the French Government web site.

Using this tool, called "Test Demat Accounting" is simple, secure and confidential. It runs on computers running Windows XP or later.

"Testing counted Demat" checks the validity of the structure of the company's file and specify the anomalies detected. From those results your company will be able to correct any anomalies and be ready for potential control.

Consult with Ataway’s Team of Experts today, and learn how we can help your organization.

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