In its press release 16/07, the CSSF draws attention to the publication of the Law of 18 December 2015 in relation to annual and consolidated accounts, transposing Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 relating to annual financial statements, consolidated financial statements and reports of certain types of companies. Directive 2013/34/EU amends Directive 2006/43/EC of the European Parliament and repeals Directive 78/660/EEC (the 4th Directive) and Directive 83/349/EEC (the 7th Directive).

On the one hand the law introduces into Luxembourg law the new provisions in relation to the transparency of payments made by companies to governments (“country by country reporting”), which aim at fighting corruption in third countries rich in natural resources (dispositions introduced by chapter 10 of Directive 2013/34/EU) and on the other hand the principal mandatory accounting provisions of Directive 2013/34/EU, amending the accounting provisions of Luxembourg law.