On 29 August 2024, Luxembourg's CSSF issued Circular 24/860, clarifying governance, risk management, and audit committee requirements for credit institutions, updating key provisions of Circular 12/552.

As you may have noticed, IFRS accounting is often not straightforward. Preparers frequently lose time digging ...

Tangible assets are typically a significant part of the balance sheet, so reclassifying them is often delicate work—made all the more so by the huge financial statement errors that doing it wrongly can cause.

How have the roles and responsibilities of audit committees ("ACs") changed in the wake of new regulation that has recently become effective?

In its October 2017 statement on enforcement priorities, the ESMA drew attention to the potentially significant impacts that IFRS 15 may have on timing and revenue recognition.

International Accounting Standard (IAS) 32 Financial Instruments: Presentation defines rules for when a financial instrument is to be classified as equity or liability.

In fact, there isn't just one big deal, but several little deals, and this is exactly why this standard is so complex. With each page you turn and brochure you read, another exception, complexity...

The bill n°6054 on non-profit associations (« NPA ») and foundations has been adopted by the Luxembourg Parliament on 28 June 2023 (the « Law »).

In June 2018, the International Financial Standards Board (IASB) published its discussion paper on financial instruments with characteristics of equity (FICE).

On 12 June 2024, Luxembourg published a bill of law amending the law of 22 December 2023 (the Pillar Two Law) implementing EU directive no. 2022/2523...

On 12 June 2024, a draft law was presented to Parliament to amend the Luxembourg law of 22 December 2023 on the minimum effective taxation of multinational enterprise groups...

In April, the European Securities and Markets Authority (ESMA) issued its report on the Enforcement and Regulatory Activities of Accounting Enforcers 2017.

Several major new IFRS standards have become effective recently or will do so soon and, as is the case for every new standard ...

In February and March 2024, the Luxembourg Accounting Standards Board (CNC) published two Q&As_ (No. 24/031 and No. 24/032) that provide useful guidance...

The Luxembourg government has adopted the Grand-Ducal Regulation of 25 October 2024 updating the accounting size criteria for Luxembourg companies.

Will IFRS 9 end up discouraging investors? I asked that question in another article a few months ago in a discussion of the new requirements, which relate to the accounting treatment of equity investments under IFRS 9.

Anything? If not, then you're not alone: most people seem to have been so focused on IFRS 9, 15, and 16, plus new CSR requirements and other new directives, that they have let the ESEF slip by.

Not too long ago, the hype around digital currencies exploded, with bitcoin being the flagship cryptocurrency in popular conversation.

On 12 May 2022, the Committee on Economic and Monetary Affairs within the European Parliament (hereafter the "Committee") issued a draft report (the "Draft Report")...

A bill of law (No. 8286) has been published on 28 July 2023 aiming at modernising Luxembourg accounting law and consolidating the accounting provisions into a single accounting law.