Transactions, financial structures and tax structures are becoming more and more complex and global. In addition, regulators and investors are more and more demanding from accounting in terms of timeliness and quality.
Besides the choice of vehicles, the selection of service providers is a key element. The chartered accountant, does not only participate in the production of reliable financial information, but also contributes its expertise in many aspects of life of companies. Our professional team members are ready to develop and implement the quality solutions you need today and in future.
Our accounting services are monitored by one key contact person who provides a cross practice support, and ensures compliance with Luxembourg tax, legal and regulatory requirements at all stages of the lifecycle of the entity.
Further, in these days of economical slowdown and of constantly changing business conditions, it is not only becoming increasingly important to keep up to date, but also a great opportunity to refresh and expand your knowledge and best prepare your teams for the future. Deloitte recognises the importance of training, both internally for our professionals and externally for our clients, and offers various types of assistance to our clients in this respect.
Deloitte services offering
Deloitte offers accounting services to the Luxembourg investment management industry, from initial ideas to implementation of the structures, followed by the day-to-day management of these entities. This includes both compliance and consultancy services for non regulated vehicles and some regulated vehicles.
Accounting assistance under Lux GAAP and IFRS when setting up the structure
Accounting implications of business decisions
- Accounting implications of cross border transactions (distressed debt, CPECs, PPL, warrants, total return SWAP…)
- Accounting implications of ongoing transactions
Full compliance package on an ongoing basis
- Accounting compliance and reporting
- Maintenance of accounting records using our license software “Bob 50” or in-house client accounting and reporting system
- Preparation of periodic and/or annual stand alone accounts under Lux GAAP or IFRS
- Liaison with auditors
- Preparation of annual consolidated accounts under Lux GAAP or IFRS
- Preparation of periodic and/or annual investor reports under Lux GAAP, IFRS, US GAAP, UK GAAP or other GAAP required by investors
- Legal and tax compliance under the supervision of our in-house corporate-legal and tax experts
- Preparation and coordination of corporate compliance (board minutes and shareholders’ ordinary/extraordinary general meetings minutes including filling of accounts)
- Preparation of tax provisions and corporate tax returns as well as check compliance with the tax clearance.
- Preparation of periodic and annual VAT returns
Specific assistance on above matters
- Prepare financial analysis at group level for management purposes
- Help design and implement a consolidation process and coordinate the data collected from subsidiaries
- Provide highly skilled Luxembourg charted accountants to temporarily help with clients’ organisation
- Assistance in accounting software implementations and migrations (e.g. GP2-GP3, Multifonds, Dimension, etc.)
- Assistance in connection with new accounting software releases (e.g. test cases, checklists)
- Test assistance for any specific or complex projects (e.g. pooling, multi-class, tax figure calculation, securities lending, etc.)
- Expertise in implementing globalisation techniques or anti-dilution mechanisms
- Drafting procedures or specification documents
Training sessions and hotlines
- Training our clients on Lux GAAP and IFRS framework or specific requirements, on general or specific consolidation processes and technical matters
- Developing customised trainings offering for the Luxembourg market aimed at providing clients with dedicated trainings for specific industry issues or selected topics; covering accounting, tax and legal implications, as needed, together with tailored case studies
- Hotlines on specific Lux GAAP and IFRS requirements, on general or specific consolidation process and technical matters
- Regular updates on the latest developments regarding the Luxembourg legal and regulatory provisions in order to maximise opportunities and mitigate the risks relating to the entities’ business and organisation