[clarification needed] It is similar to a limited liability company under United States law, as the Delaware LLC was the model used by the French government.
A société par actions simplifiée has its annual statements audited by an independent body and published.
The company may also have a directeur général (managing director), who has the same authority as the président with respect to third parties.
An example of this is European aerospace giant Airbus, which is an SAS wholly owned by a Dutch-based societas Europaea of the same name.
For example, the Louis Dreyfus Group, a trading conglomerate, is held in this manner by members of the Louis-Dreyfus family.