The “Commission des normes comptables (CNC)” (Accounting Standards Board) announces the revision of Q&A CNC 21/024 (R) entitled “Changes in accounting policies, measurement basis and accounting estimates in LUX GAAP and LUX GAAP – FV regimes”.

This Q&A has been revised to clarify that, in the event of a change in accounting policy or measurement method, adequate information must be provided in the notes, including a presentation of the reasons and motivations for the undertaking’s decision in accordance with Article 51, paragraph 2 LRCS.