The CNCC, created by the decree of August 12, 1969 (as amended May 27, 2005) and codified in the Commercial Code in August 2007, is an independent institute under the auspices and supervision of the Ministry of Justice. Statutory auditors who are authorized to practice in France, whether they are individuals or legal entities, are required to belong to the CNCC. The CNCC, along with its 33 regional arms—Compagnies régionales des commissaires aux comptes—carries out the following regulatory activities: (i) maintaining the registry of statutory auditors and audit firms, except for non-EU statutory auditors and audit firms; (ii) preparing and drafting professional standards for auditing; (iii) establishing and operating a QA systems; (iv) administering and monitoring of the CPD program; (v) providing input into the accountancy curricula and IPD requirements for statutory auditors; (vi) giving its opinion when required by the Ministry of Justice on draft laws and decrees; and (vii) submitting to the public authorities all useful proposals relating to the professional organization and the audit assignment. In addition to being an IFAC Member, CNCC is also a member of Accountancy Europe, the Federation Internationale des Experts-Comptables Francophone (FIDEF), and the Fédération des Experts-Comptables Mediterranéens (FCM). In addition, CNCC participates in the European “Common Content Project.”