Luxembourg

Details

  • Service: Audit, Audit, Financial Statement Audit
  • Industry: Industrial and consumer markets, Automotive, Industrial Products, Chemicals and Pharmaceuticals, Energy and Natural Resources, Retail, Food and Drink, Consumer Products, Information, Communication and Entertainment, Communications, Media, Electronics, Software and Business Services, Private Equity, Other Industrial, Transport, Healthcare, Real Estate & Infrastructure
  • Date: 5/3/2012

Modernisation of Luxembourg accounting environment 

The modernisation of Luxembourg accounting environment is still under way. The draft law 6376 was presented by the Ministry of Justice on 20 December 2011.
It is considered a necessary step to address some of the pitfalls created by the implementation of the law of 10 December 2010. It is meant to close a ten year journey towards the standardisation of filing of annual accounts in Luxembourg. No time to rest, however, as a revamped Accounting Directive is now on the agenda and IFRS for
SMEs has not yet been implemented.