The budget of the ACPR
The ACPR is financially independent within the limits of the contributions for supervisory costs which are collected from reporting entities. An Audit Committee ensures that the ACPR's ressources are used appropriately.
In accordance with Article L. 612- 18 of the Monetary and Financial Code, the ACPR is financially independent, within the limits of the contributions paid by the entities under its supervision. The Banque de France may allocate additional funds to the ACPR. Under the terms of Article L. 612-19 of the Monetary and Financial Code, the ACPR relies on support functions provided by the Banque de France in order to promote synergies and benefit from pooling certain costs (property management, IT, HR, accounting, etc.) It also relies on certain operating functions of the Banque de France, especially the use of databases necessary for the performance of its duties.
The Audit Committee
The Audit Committee is tasked with ensuring that the ACPR’s resources are used appropriately. As a consultative body, the committee gives prior opinions on the following:
- the ACPR’s preliminary budget, before it is adopted by the Supervisory College;
- the budget outturn report for the previous year;
- the rebilling agreements for resources and services provided by the Banque de France, before they are approved.
mMe Monique Millot-Pernin, Chairman
M. Patrick de Cambourg, Chairman of the Accounting Standards Authority
M. Jean-Luc Guillotin
Mme Martine Lefebvre
Updated on: 06/07/2018 15:09