Question 13504 — businesses

Summary

Mr. Julien Aubert draws the attention of the Minister of the Economy and Finance to the vulnerability of French companies since the implementation of IFRS accounting standards. In fact, these standards, which apply to large groups listed on the stock exchange as well as to companies using public funds, pose difficulties regarding the preservation of sensitive economic information. This problem arises because IFRS standards have led to large groups to enhance their assets based on sensitive information relating to their strategy, their innovations or their customers. However, this information can then be accessible to American financial institutions, directly or via audit firms responsible for evaluating large French groups. Furthermore, in recent years, French companies have faced an increase in investigations American extraterritorial operations, facilitated by the Sarbanes-Oxley Act of 2002, thus allowing the recovery of strategic economic data. If the transposition of the 2016 European directive on trade secrets constitutes progress in this area, it does not currently include any criminal aspect for an infringement of trade secrets, which reduces the scope of this directive. He thus wishes to know the real impact of IFRS standards in this area on French companies, and what measures the Government intends to take to protect them.

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