Regulatory Alerts2020-12-08
Added · Updated
Repeal of the ad hoc report by the approved statutory auditor for reconciliation between LUX GAAP and FINREP
The CSSF repeals the requirement for the approved statutory auditor to issue an ad hoc report assessing the reconciliation between accounts published under LUX GAAP (or LUX GAAP with IAS options) and the final FINREP version. As of the financial year ending 31 December 2020, institutions must continue to submit a reconciliation including figures and narratives, but this reconciliation is no longer subject to assessment by the statutory auditor. This decision amends Circular CSSF 08/340 by deleting the provision mandating the statutory auditor's ad hoc report for the legal publication of accounts.
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