CSSF communiqué relating to the publication of Q&A CNC 26/038, entitled “Large associations, associations recognised as being of public utility and foundations: targeted clarifications on the new accounting regime introduced by the Law of 7 August 2023”

The CSSF would like to draw attention to the publication of the following recent publications of the Accounting Standards Commission (Commission des normes comptables, CNC):

• CNC Questions and Answers 26/038 (“Q&A CNC 26/038”) entitled “Large associations, associations recognised as being of public utility and foundations: targeted clarifications on the new accounting regime introduced by the Law of 7 August 2023”. This Q&A, which is available online on the CNC website under “News” and under “Publications” – “Doctrine”, aims to clarify certain aspects of the accounting regime applicable to large associations, associations recognised as being of public utility, and foundations subject to the “medium-sized undertakings” regime, while emphasising optionality and flexibility.
• The CNC has also informed interested parties of the upcoming publication (fall 2026) of an accounting guide dedicated to the new accounting regime for not-for-profit associations (ASBLs) classified as “small associations”, “medium-sized associations” and “large associations” as well as associations recognised as being of public utility, under “News”.