Thanks to everyone for the discussion. Perhaps I should have closed it before it became quite so lively, but I'm on Washington, DC time. Thanks again to all. 4 KudoZ points were awarded for this answer
There is a broad sense and a narrow sense of this noun in English. The narrow sense is the one Chris quoted. The broad sense is "A person who has a legal and ethical duty to act in the best interests of another person" -- anyone with a fiduciary responsibility, in other words. In this sense, lawyers, notaries, accountants, auditors and other "fiduciary agents" are all fiduciaries.
"We are an independent Fiduciaire, or Accounting Firm, based in Nyon, Switzerland (near Geneva)"
"Fiduciaire Leydet is an auditing and accounting firm that is based in Paris, France"
"BDO Compagnie Fiduciaire is a leading accounting firm offering a wide range of services including tax advice, audit, financial engineering, human resources"
Surely, this proves that "une fiduciaire" = "an accounting firm". Obviously, you are not going to agree with this, so I believe that we are at an impasse. I think it is in everyone's best interests if the Asker decides which term to use. Enough debate has now been had.
Well, as far as I am concerned, this is as far as it goes.
The Swiss Fiduciary Association call themselves precisely that. They are accountants and lawyers.You have received a number of pukkah refs and provided none in return. I'm now going back to work !
"A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence".
This is the general meaning and in the article there is no mention / reference to the fiduciary being a person, who has the authority to draw up accounts.
Firstly, the wordreference ref you give does not confirm that a fiduciary is an accountant.
Secondly just because someone draws up a set of accounts does not mean they are an accountant. And especially in this case where he is a FIDUCIARY, Chris..someone who, it appears may be an accountant or a lawyer. What more can be said?
Yes, I am well aware that "fiduciary" exists, both as noun and an adjective. I also know that "fiduciaire" can also mean "trustee" in a legal context. But, in this case, the context is accounting as indicated by the Asker.
I had never heard of a fiduciary, it has to be said. But if you look at the Swiss Fiduciary Association website Treuhand Suisse (thank you for that ref RK) which is for "fiduciary professionals" in the "fiduciary industry" you will note that you can either be an accountant or a lawyer. Therefore it is is not accurate to call him anything but a FIDUCIARY. However, more power to the knowledge elbow.
In Switzerland, the "Swiss Fiduciary Institute" (Treuhand-Kammer) issues the audit standards, and "Fiduciaries in Switzerland are certified public accountant firms which provide accounting, auditing, tax services and expertise to individuals, companies and institutions" (Michael Page International).
But since 'fiduciary' is the word the Swiss themselves use in English, why not use it? Why pick a fight with the Swiss Weltanschauung?
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Answers
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the accounts have been drawn up by the accounting firm
Explanation: IMHO.
-------------------------------------------------- Note added at 4 mins (2009-10-23 15:58:44 GMT) --------------------------------------------------
next part:
"therefore the accounts have been drawn up by professionals."
Chris Hall United Kingdom Local time: 08:46 Native speaker of: English PRO pts in category: 12
Grading comment
Thanks to everyone for the discussion. Perhaps I should have closed it before it became quite so lively, but I'm on Washington, DC time. Thanks again to all.
Reference comments
1 day3 hrs
Reference: 'accounting firm' is a cultural equivalent at best
Reference information: … but surely good enough for this asker's context. Nothing wrong with 'fiduciary', though.
Those who wish to understand how professional credentials (let alone range of business activities) at a Swiss fiduciaire might differ from those at an Anglosphere accounting firm might wish to consult Swiss federal law on the subject. For example, the newish law on auditing (link) sets the requirements to be an expert-réviseur as follows:
"a. est titulaire du diplôme fédéral d’expert-comptable;
b. est titulaire du diplôme fédéral d’expert-fiduciaire, d’expert fiscal ou
d’expert en finance et en controlling et justifie d’une pratique professionnelle
de cinq ans au moins;
c. est titulaire d’un diplôme en gestion d’entreprise, en sciences économiques
ou juridiques délivré par une université ou une haute école spécialisée suisse
ou est spécialiste en finance et comptabilité avec brevet fédéral ou encore
agent fiduciaire avec brevet fédéral, et justifie dans tous les cas d’une pratique professionnelle de douze ans au moins;"
(and a reciprocity clause for professionals from treaty states).
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