Financial Reporting Obligations for Boards

Course outline

The purpose of this specific training is to provide directors with practical knowledge on financial reporting in order to understand how to read and interpret financial reports as an independent director.

This course is dedicated to directors that do not have a professional accounting background but that would like to acquire insight on how to read and interpret financial statements. To fully benefit from this introductory class, participants are expected to have a basic knowledge of corporate accounting.


The training is part of a training program with the below topics:

  • Module 1 - Fiscal reporting obligations - 7 March 2024 - from 11.00-13.00
  • Module 2 - Financial reporting obligations - 14 March 2024 - from 11.00-13.00
  • Module 3 - ESG reporting obligation - 21 March 2024 - from 11.00-13.00
  • Module 4 - Regulatory reporting obligations - 28 March 2024 - from 11.00-13.00

Should you wish to register to all 4 modules please follow this link

Date & Time

14/03/2024 - 11:00
13:00

Venue

Online

CPD hours

2.0 hours

Book your spot

Member fee : 190,00€ (VAT excl.)

Non-member fee: 250,00€ (VAT excl.)



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Speakers

Luc REGENT

Non-executive Director

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Agenda and schedule

11:00 AM

Role and responsibilities of the stakeholders

  • Key stakeholders and their roles (preparers, auditors, users, other)
  • The Board of Directors
  • The Auditors

11:15 AM

Comparing companies through Financial Reporting  

11:30 AM

Financial reporting

  • Defining terms & concepts
  • Different types of reporting: general purposes, management reporting, regulatory reporting, special purpose reporting, non-financial reporting

11:45 AM

The true nature of accounting

12:00 PM

Legal & regulatory aspects of accounting, tax & financial reporting

  • Accounting frameworks (Lux GAAP, IFRS, Modern Lux GAAP)
  • Accounting laws in Luxembourg - general and sectors (Banks, insurances, funds)
  • Size and criteria (small, medium, large, PIE entities)
  • Filing obligations  

12:30 PM

The components & types of financial statements

  • Balance sheet (assets and liabilities)
  • Profit and loss account (income and expenses)
  • Notes to the accounts
  • Auditor's report (opinion types)
  • Other statements (Cash Flow statement, management report...)
  • Solvency vs. liquidity   

Start with the customer – find out what they want and give it to them.

Venue

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Chambre de Commerce Luxembourg

7 Rue Alcide de Gasperi 

1615 Luxembourg - Luxembourg

Contact the organiser

Institut Luxembourgeois des Administrateurs

events@ila.lu  | +352 26 49 58 5963