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Increases the quality and transparency of financial reporting
Luxembourg is often considered for the location of Group head offices. In that respect, needs for preparing consolidated financial statements are increased either because they are required legally or by stakeholders.
The legal accounting framework in Luxembourg requires some companies to prepare consolidated financial statements either under Lux GAAP or IFRS as adopted by the European Union and implemented in Luxembourg regulations.
Group management faces challenges to provide consolidated data even faster every time in an environment that is permanently changing. They have to make the right choices to remain flexible, regarding the information systems, the organisation of processes and the development of the internal consolidation procedures.
Consolidation increases the quality and transparency of financial reporting in an ever-changing financial reporting regulation. As the consolidation process is complex and specific, it requires expertise and knowledge.
Our professionals deliver bespoke solutions and capitalise on their technical know-how and experience to develop an effective and scalable financial reporting solutions to meet these requirements.
Our experts can assist you with these challenges, by providing the following services:
- Audit of consolidated financial statements under Lux GAAP or IFRS (as adopted by the European Union) on a contractual or legal basis
- Standardisation of the accounting systems on group level
- Converting to or from Lux GAAP and IFRS (as adopted by the European Union)
- Customising support and providing recommendations on consolidation processes and reporting requirements
- Independent review of consolidated financial statements
- Partial or full outsourcing of the consolidation process (preparation of consolidation schedules and/or financial statements)
- Our experts have extensive practical experience in consolidations. The methodology that we apply guarantees complete transparency of the consolidated data