Legal & regulatory aspects of accounting & financial reporting

• Accounting, tax & financial reporting as a set of legal & regulatory requirements;

• The Luxembourg accounting framework: LUX GAAP, LUX GAAP-JV, IFRS-EU;

• The categorization of entities into small, medium, large and PIE: practical implications;

• Independent audit of financial information : réviseur d’entreprises agréé vs. commissaire

• The Luxembourg tax approach: a quasi-dependent approach;

• Understanding the concept & implication of book-to-tax differences;

• Filing obligations: RCS, ACD, AED, CSSF, BCL;

• Illustrative examples

The components of financial statements and annual report

• The primary financial statements

• The other financial statements

• The reports related to financial statements

• The audit function