Audit

FATCA and CRS audits: Time to be prepared

Why should you be prepared for FATCA and CRS more than ever? The new Foreign Account Tax Compliance Act (“FATCA”) and Common Reporting Standard (“CRS”) law ratified on 18 June 2020 has not only increased compliance requirements once again but, at the same time, it has reinforced the power of the Luxembourg tax authorities to carry out an audit within a […]

Country-by-country reporting: are you at risk?

On 31 December 2018, the tax administrations of more than 70 countries will receive and exchange country-by-country (CbC) reports of the multinational enterprises (MNEs) that fall within the scope of their local CbC rules. Luxembourg, of course, is no exception (read its CbC law in French). For MNEs, this means compliance hurdles as well as, notably, transfer […]

Attention audit committees! Are you set for 2017? (Step 6)

Welcome to the final part of our 6-part series of articles about how audit committees (“ACs”) can prepare and deal with new legislation. Specifically, the law of 23 July 2016 on the audit profession (“Law”) and Regulation (EU) N° 537/2014 (“Regulation”) will affect the roles and responsibilities of ACs, as well as their relationships with external a […]
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Attention audit committees! Are you set for 2017? (Step 5)

Audit committees (“ACs”) have taken on new roles since new regulation took effect earlier this year. In light of new questions that may arise, we’ve put together a 6-part series on the effects on ACs of the law of 23 July 2016 on the audit profession (“Law”) and Regulation (EU) N° 537/2014 (“Regulation”). Read on for part 5, or browse our other ar […]
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Attention audit committees! Are you set for 2017? (Step 4)

Welcome to part 4 of our 6-part article series about how audit committees (“ACs”) can prepare and deal with new legislation. Specifically, the law of 23 July 2016 on the audit profession (“Law”) and Regulation (EU) N° 537/2014 (“Regulation”) will have an impact on audit committees in terms of their roles and responsibilities, and their relationships […]
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Attention audit committees! Are you set for 2017? (Step 3)

Following regulation that became effective this year, how should audit committees (“ACs”) be involved in the tender process? Keep reading for part 3 of our 6-part series about how to make sure you’re in good shape with regard to the law of 23 July 2016 on the audit profession and Regulation (EU) N° 537/2014. Step 3 – How should the AC be invo […]
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