Regulatory Alerts2023-11-15
Added · Updated
Circular CSSF 23/845 — Update of Circular CSSF 22/821 on the long form report and Circular CSSF 22/826 on the statutory audit mandate
Circular CSSF 23/845 amends Circular CSSF 22/821 to update the self-assessment questionnaire for the long form report, adding five thematic sections on credit and counterparty risk, interest rate risk in the banking book and credit spread risk, liquidity risk, strong customer authentication under PSD 2, and climate-related and environmental risks. It also removes the requirement for Luxembourg credit institutions and Luxembourg branches of non-EU credit institutions to submit Agreed Upon Procedure reports for the financial year ending 2023, although such reports may be requested ad hoc in the future. Additionally, the circular amends Circular CSSF 22/826 to adapt the submission deadline for the management letter to align with the deadlines for reports established by approved statutory auditors under the revised Circular CSSF 22/821.
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