This site uses cookies to provide you with a more responsive and personalized service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

Audit & assurance services

Challenges

You seek a firm that is independent — that can deliver unbiased, clear, and straightforward advice, direction, and opinion. At the same time, you seek a firm that can deliver original insights and ideas derived from its own industry-specific experience and research.

For that kind of relationship to work, you need a professional services firm that will work with you in tandem - closely and collaboratively. Not a firm that will keep you at arm’s length, but a firm that will communicate with you often and well to enable it to deliver the insightful, value-driven service needed to help develop your business.

Deloitte is that audit firm.

Deloitte service offering

Statutory audit

  • Statutory audit of the Financial Statements
  • Regulatory audits as part of our audit assignments per delegation by the regulator (Circular 2001/27 and other circulars subsequently issued). Our opinions and conclusions cover the entity’s compliance applicable to the banking industry (organisation and administration, internal controls, prudential ratios (Solvency ratios, liquidity), banking risks, anti-money laundering, rules of conduct (MIFID), related parties, etc.)
  • Reconciliation between annual accounts (LuxGaap) and the FINREP prudential reporting
  • Validation of group reporting, mainly in IFRS or in US Gaap
  • Audit of the Consolidated Financial Statements

Why Deloitte?

  • Collaborative service
  • A local team with national and global reach
  • Year-round communication - no surprises
  • Deep industry knowledge delivered by core team leaders
  • High focus on quality and constant attention to deadlines
  • A team that mirrors your unique business and organisational identity
  • Specialist and multidisciplinary team to test complex areas
  • A “no surprise” fee policy

Regulatory advisory

  • Many consultations on regulatory compliance for banks and branches of foreign banks, for instance in specific situations such as acquisition, merger, spin off, transformation, etc.
  • Relations with the regulatory authorities
  • Assistance to applications for licenses or for specific authorisations from the regulator
  • Regulatory consulting on hot topics, such as the new liquidity framework, the Basel II framework, AMA for operational risk; assistance to calculation of Solvency ratio and to the production of Corep ; gap analysis, assistance and implementation of ICAAP; assistance to the optimisation of processes in relation with large exposures regime ; assistance on banking secrecy matters in IT implementation projects; discussion with regulators on IT/operations outsourcing initiatives ; assessments of internal controls ; remuneration policy
  • Customised trainings in relation with any of the above topics
  • IFRS conversion

Other engagements

  • Specific requests ordered by the regulator (for instance related to anti money laundering, or to assess or validate a specific approach)
  • Engagements in respect of financial information to be submitted on continuous vocational training
  • Report on proposed distributions of an interim dividend
  • Report on agreed upon procedures

The right audit approach for you

Our audit approach is hands-on and partner-led. We place importance on understanding your operations and your long-range strategic plans. Based on this knowledge, our approach will encompass a highly robust risk assessment process and an audit plan designed to respond to the key risks which are relevant to our audit.

Overall, our audit seeks to provide you with information which will assist in the preservation and protection of your brand and reputation.

Industry leadership

  • External auditors for approximately 2,000 regulated sub-funds, which account for 17% market share in terms of number of audited sub-funds and 30% of the Specialized Investment Funds
  • External auditor for approximately 40 banks
  • External auditor for the largest industrial and commercial companies in Luxembourg

Our audit approach

Contacts

  • Martin Flaunet
    Partner - Banking Leader
  • Stéphane Césari
    Partner - Audit

Related links

  • ExternalURL
    Link'n Learn
    Deloitte in Luxembourg has launched new online series: Link’n learn | Interactive access to Deloitte knowledge
  • ExternalURL
    Podcasts
    Deloitte screens and identifies significant issues for your business and conveniently wraps them in podcasts, which you can either download or watch on your computer
  • ExternalURL
    Events
    List of the forthcoming events organised by the Luxembourg office

More Learn more

  • AIFMD transparency rules - Impact on the annual report of AIFs | Whitepaper
    The AIFMD, which was transposed into national law in Luxembourg on 12 July 2013, sets out minimum line items and disclosures that must be presented within an AIF annual report.
  • Alternative Investment Funds - Luxembourg - grow your business in ideal conditions | Brochure
    Alternative investment has for many years been a pillar of the Luxembourg investment management industry. Particularly, with the introduction of the (SIF) regime in 2007.
  • Subsidy for vocational training - Your opportunity, our solution | Brochure
    Continuous vocational training legislation enables companies legally based in Luxembourg and with their main business activity there to benefit from support in funding their training plans.
  • Professionals of the Financial Sector (PSF) in Luxembourg - Overview and outlook of a resilient sector | Brochure
    As we do every year since 2010, it is with pleasure that we present our analysis of Professionals of the Financial Sector (PSF) in Luxembourg.

Share

 

Stay connected:
Get connected
Share your comments
More on Deloitte Luxembourg
Learn about our site

Recently published