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.
Published on 8 December 2020
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CSSF circular
Repeal of the ad hoc report to be issued by the réviseur d’entreprises agréé (approved statutory auditor) for the reconciliation between the accounts published under LUX GAAP or LUX GAAP with “IAS options” and the final FINREP version
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21 February 2008
Updated on 9 December 2020
Circular CSSF 08/340 (as amended by Circulars CSSF 14/596 and 20/760)
I) Legal publication of accounts: – Changes introduced by the law of 16 March 2006 relating to the introduction of international accounting standards for credit institutions – Clarification of certain issues related to the legal publication of accounts II) First-time…
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