Consolidation function outsourcing in Luxembourg allows businesses to delegate the preparation of consolidated financial statements, intercompany eliminations, and compliance reporting to external experts, ensuring accuracy, scalability, and efficiency while freeing internal teams to focus on strategic priorities.
Consolidation function outsourcing is the practice of delegating all or part of a group’s financial consolidation process to a specialized provider. This includes:
Preparing consolidated financial statements under Lux GAAP or IFRS
Managing intercompany reconciliations and eliminations
Collecting and validating financial data from subsidiaries
Preparing audit-ready documentation
Ensuring compliance with regulatory frameworks
By outsourcing this critical function, companies benefit from both specialized expertise and operational efficiency, while reducing the risk of reporting errors.
An external consolidation department operates as an extension of your finance team, providing independent and scalable support for group reporting.
Key responsibilities include:
Data collection and mapping across subsidiaries
Elimination of intercompany balances and transactions
Preparation of consolidated accounts and disclosure notes
Liaison with auditors during statutory or group audits
This model ensures that consolidation tasks are handled by professionals with deep technical expertise and experience in multiple accounting systems such as SAP BPC, Oracle HFM, or LucaNet.
A consolidated financial statement provides a comprehensive picture of a group’s financial health by combining the financials of the parent company and its subsidiaries into one set of accounts.
It includes:
A consolidated balance sheet
A profit and loss statement
A consolidated cash flow statement
Disclosure notes and annexes
By eliminating intercompany transactions and balances, these statements give shareholders, regulators, and investors a transparent view of the group as a single economic entity.
External experts ensure full compliance with IFRS, Lux GAAP, and local regulations, reducing risks of misstatements or audit issues.
With specialized consolidation software and empirical methodologies, outsourced teams streamline data collection, reconciliation, and reporting, leading to faster month-end and year-end closings.
Outsourcing adapts to business cycles, M&A transactions, or restructurings without requiring permanent headcount increases.
Companies avoid the overhead of hiring full-time consolidation specialists while still accessing high-level expertise on demand.
Year-End and Half-Year Closings with high workload and limited internal capacity
M&A Transactions requiring integration of new subsidiaries
Group Restructurings that increase reporting complexity
Audit Preparation to ensure compliance and readiness
Temporary Gaps due to staff turnover or absences
At Financial Services Luxembourg, we combine:
Expertise in accounting function outsourcing and consolidation services
A proven track record with international groups and holding companies
Practical experience across Lux GAAP, IFRS, and multi-system environments
Tailored solutions that adapt to each client’s structure and reporting calendar
Our approach to helping businesses streamline financial reporting and corporate governance has been recognised in Le Figaro.
👉 Read the full feature: Financial Services Luxembourg – Expert in Company Creation and Accounting Services.
"Outsourcing the consolidation function allows businesses to safeguard compliance, reduce reporting risks, and focus resources on strategic growth."
Mickaël LOC, Managing Director, Financial Services Luxembourg, Accountant
If your group is looking to improve consolidation accuracy, reduce reporting cycles, or strengthen compliance, outsourcing your consolidation function is a powerful solution.
Contact Financial Services Luxembourg today to discuss how our external consolidation department can streamline your reporting processes and support your growth strategy.