company formation luxembourg

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+352 671 533 922
Company Formation Luxembourg



Project: Energy Audits for Large Companies in Luxembourg

Written by: Bridgewest

Project-Energy-Audits-for-Large-Companies-in-Luxembourg.jpgA new bill proposed by the Luxembourg Government aims to implement a mandatory energy audit policy for large companies operating in the country. The procedure will be performed according to a European Directive and will be conducted by an external auditor in Luxembourg. Our company registration agents in Luxembourg can help you undergo any necessary audit requirements for your corporation.

Regular energy audits for large Luxembourgish companies 

Luxembourg’s Economy Minister proposed a new change to the current auditing requirements in the country. If the new bill will be implemented, large companies in Luxembourg will need to perform regular energy audits.
The new audit requirements will apply to companies that have more than 250 employees in Luxembourg and have a reported profit of more than 50 million euros. A simplified audit would be available for those companies that have an energy consumption that does not exceed 100 MWh. 
An internal or an external energy auditor would carry out the energy audit. According to the proposed bill, some companies in Luxembourg would also be required to perform a cost-benefit analysis. 

Auditing requirements in Luxembourg

The energy audit in Luxembourg would include an inspection of the energy flow in a company with the purpose of reducing the amount of energy expense and carbon footprints. The auditor would inspect existing energy bills in order to evaluate the company’s energy usage profile. 
Small companies in Luxembourg do not need to appoint an auditor for a yearly inspection. They must observe the requirements for accounting and reporting. Large companies must audit their annual accounts and a registered auditor who is appointed at a general meeting of the company performs this operation. Companies that operate in the financial or insurance sector must have their annual accounts audited regardless of their annual net turnover of the balance sheet total. 
For more information about the International Standards of Auditing also applicable for Luxembourg companies you may contact us

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