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ARTICLE · 12 JANUARY 2024

CSSF Reveals Top Enforcement Priorities For 2023 Financial Statements – A Must Read For Issuers

Luther Luxembourg S.A.
Explore more from Luther Luxembourg S.A.

The CSSF announced on 8 January 2024 its enforcement priorities for issuers subject to the Luxembourg transparency law. Stay ahead of the game and read on to learn what issuers...

LuxembourgFinance and Banking
Bob Scharfe
Bob Scharfe
Marion Lanne
Marion Lanne
Georgios Patsinaridis
Georgios Patsinaridis

The CSSF announced on 8 January 2024 its enforcement priorities for issuers subject to the Luxembourg transparency law. Stay ahead of the game and read on to learn what issuers can expect to face scrutiny over in their 2023 annual financial statements.

(a) Climate-related matters

For 2023, the CSSF will focus on checking financial and non-financial information from companies impacted by climate change. The CSSF will check if the issuer provided specific information on how they integrated climate risks into their financial statements. The CSSF also advises companies to anticipate the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS) by adapting their organisations, policies, controls, and procedures. Companies still need to follow the reporting guidelines of the Non-Financial Reporting Directive (NFRD) even if they switch to CSRD reporting.

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