Converting accounts to Lux GAAP, reliable, documented conversion.
Converting accounts to Lux GAAP transforms bookkeeping kept under IFRS or a foreign framework into Luxembourg accounting standards and the standard chart of accounts, with traceable restatements.
Lux GAAP conversion restates accounts prepared under another framework (IFRS or foreign GAAP) to comply with Luxembourg accounting standards and the standard chart of accounts (PCN), for statutory filing and local taxation.
Lux GAAP framework based on the amended law of 19 December 2002 and the standard chart of accounts (Grand-Ducal regulation of 10 June 2009). Companies may, under conditions, opt for IFRS; the conversion documents the framework differences.
Key takeaway
- Conversion makes IFRS or foreign accounts compliant with Lux GAAP.
- A bridge table documents each restatement.
- It conditions statutory filing and local taxation.
Who this is for
- Subsidiaries of foreign groups keeping IFRS accounts
- Companies acquired with a non-Luxembourg framework
- Holdings adding compliant local accounting
- Groups harmonising the basis of their statutory accounts
What we do
- Gap analysis between source framework and Lux GAAP
- Restatements and reclassifications to the standard chart of accounts
- Conversion of opening and current-year balances
- Documentation of restatements (bridge table)
- Preparation of Lux GAAP annual accounts and filing
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Preparation checklist
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Frequently asked questions
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