Regulatory Alerts2016-12-05
Added · Updated
CSSF Regulation No 16-10 on Continuing Education for Statutory and Approved Statutory Auditors
Statutory auditors and approved statutory auditors must complete a minimum of 120 hours of continuing education over a three-year reference period, including at least 20 hours per year. Approved statutory auditors are subject to specific hourly requirements for topics such as international accounting standards, audit of financial information, money laundering prevention, and professional ethics, with additional requirements for those auditing consolidated statements. Training activities must be monitored by the Institut des Réviseurs d’Entreprises for statutory auditors and by the CSSF for approved statutory auditors, with annual declarations due in January and documentary evidence retained for three years. The first three-year reference period under this regulation runs from 1 January 2016 to 31 December 2018.
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