A 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