Statutory auditor in Luxembourg: role, requirement and mandate
The commissaire aux comptes (statutory supervisory auditor) oversees the company's accounting and reports to the shareholders. STYX Corporate Services accepts these mandates where the law allows and where it is independent of the company.
The role of the commissaire aux comptes
- Checks that the books are properly kept and that the annual accounts match the entries.
- Reports to the shareholders at the general meeting that approves the accounts.
- Flags irregularities found in the management or the accounts.
- Is appointed by the meeting for a fixed, renewable term.
Which companies must have one?
Depending on its form and size, a Luxembourg company must be supervised by a commissaire aux comptes or have its accounts audited by an approved statutory auditor (réviseur d'entreprises agréé). A public limited company (S.A.) is in principle concerned. Some entities have their own rules. We check with you what applies to your company.
Commissaire aux comptes or approved statutory auditor?
- Commissaire aux comptes: supervision of the accounts provided for companies that stay under the statutory audit thresholds. STYX can hold this mandate.
- Approved statutory auditor (réviseur d'entreprises agréé): a regulated profession, supervised by the CSSF, required for the statutory audit of larger companies. STYX does not carry out statutory audit and puts you in touch with an approved firm.
Independence
The commissaire must be independent of the company supervised. STYX never accepts a commissaire mandate in a company where it also holds a management role, keeps the books or has another incompatible role. The roles of officer, accountant and supervisor are kept separate between distinct providers.
How we work
- Review of the company, its accounting and its filing history before accepting.
- Engagement letter: scope, timetable and fee.
- Review of the annual accounts and report delivered before the meeting.
- Attendance at the meeting that approves the accounts, then filing with the accounts at the register.
Frequently asked questions
Is a commissaire aux comptes compulsory?
It depends on the company's form, size and activity. We check this with you before any appointment.
Can you be both officer and commissaire?
No. These roles are incompatible in the same company and we do not combine them.
Does the commissaire replace the statutory audit?
No. The statutory audit of a company above the thresholds is carried out by an approved statutory auditor. We introduce an approved firm in that case.
How is a commissaire aux comptes appointed?
By decision of the general meeting of shareholders, then registration at the trade register where the law requires it.
Let's talk about your structure.
Describe your situation. We reply with a first view of the way forward.