The draft law 8286 aims to abolish the role of statutory auditor (commissaire aux comptes) in Luxembourg.
This role, established in 1915, has faced criticism for lacking qualification and independence requirements.
Since 1984, the role of independent auditor (réviseur d’entreprises) coexists with the statutory auditor.
Citing confusion issues for foreign investors due to terminology and the risk of credibility loss for Luxembourg, the draft law suggests a straightforward abolition of the statutory auditor role.
