Press release 14/04
The CSSF draws attention to the publication of the law of 30 July 2013 reforming the Commission des normes comptables (accounting standards board) and amending various accounting provisions relating to accounting and annual accounts of firms as well as to consolidated accounts of certain types of companies (hereafter “CNC Law”).
In this context, the CSSF would like to point the supervised entities concerned out to the following two accounting elements included in the CNC Law, in particular:
– the determination of reserves available for distribution in case of use of the fair value measurement method or of international accounting standards in general;
– the requirement for support PFS publishing their annual accounts according to Lux GAAP, to deposit account balances according to the standard chart of accounts with the trade and companies register which implies, furthermore, a deposit of the balance sheet, profit and loss account and standard chart of accounts in a structured form.
The whole text of the CNC Law may be downloaded from the website of Legilux: http://legilux.public.lu/eli/etat/leg/loi/2013/07/30/n6/jo.
In addition and in view of the fact that the CNC Law, among others, amends parts of the laws of 19 December 2002 and 10 December 2010 on the trade and companies register and on the accounting and annual accounts of firms, the provisions of these two laws should also be looked at. The whole text of these laws may be downloaded from the website of Legilux: