European Union: A Reality And An Opportunity For Chartered Accountant And Their Clients

Over time and through its evolution the European Union (EU) has increasingly evolved to become the new area for the development of Chartered accountants' activities. It not only affects and alters their professional lives as well as that of their firms and more generally, the profession of Chartered accountant functions in France and in other EU Member States. How do we understand the evolution of a regulated profession following the establishment of European directives that are impacting it? How do we best take advantage of this new economic area and accompany our clients in it? In the first part, the paper analyses the implementation of the "Services", "Recognition of professional qualifications", "Accounting" EU Directives and their transpositions into French law. Then, the second details the EU market reality which is constituted of mainly Small and medium-sized companies and who are the Chartered accountant's clients. The third part in this paper presents some adaptations for Chartered accountant, which are necessary and desirable. Finally, this study bring to light that the major and "only" obstacles seeming to block Chartered accountants from servicing SMEs in the EU are: social law, tax law, national languages and certain psychological barriers. All which are surmountable as long as accounting professionals are motivated and view the European Union as our common living space and national territory. Now one question is being raised: How can we conceive of serving a client in the European Union, a Union which is now actually debating its founding principle of free movement?