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In most industrialised countries, the external auditor’s role and tasks have been questioned, following the growing number of company failures during the last decades. This has been the case in France, and more recently in Japan, as the country has been faced with tremendous difficulties since the beginning of the 90s. This contribution compares external audit in France and in Japan. Significant differences appear as regards to the legal framework, professional standards, and the institutional context. Within the context of the globalisation of financial markets, the ongoing reforms of external audit systems brings them closer. However, as the comparison between France and Japan shows, some specific features remain.