The course will be presented by Sebastian Kunrath, Manager – Audit & Assurance, Deloitte

The session is about methodologies, requirements and best practices to perform to audit consolidated financial statements under Lux GAAP and IFRS. After attending this course, participant will be able to:

• Understand the consolidation requirements: consolidation, exemption and scope exclusion under Lux GAAP and IFRS;
• Understand the main significant audit risk in relation with consolidated financial statements;
• Understand the main difficulties the auditors could face, including non-matching of the closing dates, limited access to the component auditors and different accounting methods among the group;
• Understand the relationship between the group auditors and the component auditors;
• Identify the component entities to select for the audit of the information included in the consolidated financial statements;
• Understand the requirements in relation with the materiality calculation;
• Understand the nature of work to be performed to address the risk identified at the consolidated level;
• Be aware of the communication requirements and Long Form expectations.

The training is mainly about the normative and legal aspects: it will be also the opportunity to have open discussions between professionals. 

The target audience is an intermediate level.