Regulatory Alerts2020-12-08
Repeal of the ad hoc report by the approved statutory auditor for reconciliation between LUX GAAP and FINREP
The CSSF issued Circular 20/760 to repeal the requirement for an approved statutory auditor to issue an ad hoc report reconciling accounts published under LUX GAAP or LUX GAAP with IAS options to the final FINREP version. This amendment updates Circular CSSF 08/340 to align regulatory reporting obligations with current international accounting standards for credit institutions. The change eliminates a specific reconciliation reporting duty previously mandated for statutory auditors in this context.
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