Approval procedure

The cabinets de révision (audit firms) and the réviseurs d'entreprises (statutory auditors) wishing to carry out statutory audits must be approved by the CSSF.

 
Conditions for the approval of natural persons

 
In order to be approved, the natural person must have a professional establishment in Luxembourg and must be authorised to use the title of “réviseur d’entreprises”.

 
The approved natural person receives the title of “réviseur d’entreprises agréé”.

 
Conditions for the approval of legal persons

 
In order to be approved, the legal persons must be authorised to use the title of “cabinet de révision” and meet the following conditions:

  • the natural persons carrying out the activities referred to in letter (a) of point (34) of Article 1 of the Audit Law on behalf of a legal person must be réviseurs d’entreprises agréés (approved statutory auditors);
  • a majority of the voting rights in an entity must be held by réviseurs d’entreprises agréés (approved statutory auditors), cabinets de révision agréés (approved audit firms), statutory auditors or audit firms (as defined in Article 1 of the Audit Law);
  • a majority of the members of the administrative or management body of the entity must be réviseurs d’entreprises agréés (approved statutory firms) or statutory auditors. Where such a body has no more than two members, one of those members must satisfy at least the conditions in this point;
  • satisfy the required conditions of good repute;
  • have a professional establishment in Luxembourg.

The approved legal person receives the title of “cabinet de révision agréé”.
 

Procedure

 

In order to obtain this approval, the natural and legal persons, meeting the conditions listed above, must send a written request to the CSSF (by post or scanned via email at supaudit@cssf.lu).

 
The written request must include the personal ID number allocated by the CSSF during the registration. Any request without this number will not be processed.

 
The CSSF will request, where necessary, the update of the documents requested at the time of the granting of the title (declarations of honour, extracts of the police record, etc.).

 
Not later than eight working days as from receiving the written request and provided that the file containing the information necessary to verify the prerequisites is complete, the CSSF notifies, via mail, the approval or refusal to approve.

Public oversight of the audit profession

Tel. : (+352) 26 25 1 - 512

Fax : (+352) 26 25 1 - 602

supaudit@cssf.lu