Gevorg Tovmasyan

CSSF focus for 2020

Just before issuers and auditors started winding down for the festive season, the CSSF published its enforcement priorities for 2020. Recently issued IFRS 9, 15 and 16 were among the points at the top of the agenda – no surprises there, right?! Let’s take a look at what’s at the top of the CSSF’s agenda for the year ahead… IFRS 16 Lease The C […]

The CSSF’s new IFRS 16 questionnaire shakes the ground for banks

There have been numerous publications on how IFRS 16 Leases changes the accounting for leases and what the main challenges are. One would think that by now the hype around the new standard has settled, yet the circular letter issued by the CSSF recently seems to have caused anxiety among some Luxembourg’s credit institutions. The circular requests all credi […]

Survey finds companies unready for new leasing standards

The new standards on lease accounting are here. They became effective on 1 January 2019 for calendar year-end companies. However, KPMG’s survey of companies around the world reveals that some firms won’t have fully completed their implementation programs by the effective date, and will therefore be relying on interim solutions to enable compliance workaround […]