Latest recommendations of the Luxembourg Accounting Board: all you need to know!

Keeping up with the latest doctrine is an important part of the job of every accounting expert. In the last years, the number of recommendations issued by the CNC is increasing and is tackling important topics on which the accounting law is silent.

• What are the impacts of changes in the consolidation scope of a group on the assessment of size criteria?
• What is the impacts of the "Pillar 2" law on annual or consolidated accounts under Lux GAAP (especially for 2024)?

These are 2 examples of questions that this module will address and answer using the CNC recommendations and our experts' market experience.

This training aims at giving participants all the information and latest doctrine issued by the Luxembourg Accounting Board ("Commission des Normes Comptables" or "CNC"). This training will be delivered by experts who will share their view and their experience on the market impact in terms of accounting.

This training will cover several recommendations on the following topics:

• Pillar 2 for the 2024 annual accounts - Q&A CNC 24/035
• Increasing the size criteria: practical application - Q&A CNC 24/034
• Impacts of changes in the consolidation scope of a group on the assessment of size criteria - Q&A CNC 24/033
• Pillar 2 Law and option to disclose deferred tax assets and liabilities in the notes to the 2023 annual accounts - Q&A CNC 23/032
• Impact of the Pillar 2 Law on the notes to the annual and consolidated accounts under LuxGAAP or LuxGAAP-FV - Q&A CNC 23/031
• Change of currency for bookkeeping and preparation of annual accounts Q&A CNC 23/030
• Accounting aspects of company migrations to Luxembourg - Q&A CNC 23/029

This training is coordinated by Damien Brunet, Director, and Gregory Beauchesne, Senior Manager in the accounting technical team. The training will be presented by experts in the accounting field.

Damien Brunet is a director and certified chartered accountant in Luxembourg and France with over 16 years of experience in accounting and tax. He specialises in alternative investment accounting and tax compliance, focusing on private equity, international structures, and operational companies across various industries. Damien’s key responsibilities include preparing and reviewing accounting and financial reporting, such as annual accounts, GAAP conversion, monthly reports, and tax reporting including tax returns and withholding tax filings. He works within PwC Luxembourg’s Global Compliance Services and Lux GAAP Technical teams, coordinating the Lux GAAP technical team and leading Lux GAAP training courses at PwC Academy.

Grégory Beauchesne is a senior manager at PwC with over 15 years of experience, initially specializing in private equity and real estate audits within the Audit department. He later transitioned to the Accounting and Finance department, where he oversees annual account preparation, daily bookkeeping, CBL reporting, and tax returns for holding, real estate, and private equity entities. As a member of the accounting technical Lux GAAP team at PwC Luxembourg, he develops and delivers accounting training both internally and externally, demonstrating strong leadership in technical expertise and client service within his specialized industries.