As stakeholders ask for meaningful insights in their audit report, smart machines give us the potential to redefine the audit profession. Technology will not only change how we perform audits but also how we allocate human resources. The question is: can we automate everything and remove the human touch? Audit …
People aged 55 and above (older workers) are not too old to work. As their number increases so do the long-term GDP growth prospects related to their employment. Older workers, as they’re called, could generate around EUR 1.8 trillion GDP gains in OECD countries.
No sector or business is in any way immune from the impact of Artificial Intelligence. Global GDP will actually be 14% higher in 2030 as a result of it. This makes it the biggest commercial opportunity in today’s fast changing economy. We examined the real value of AI for your …
Cloud-based services, stronger governance and data protection are just some of the new provisions meant to simplify IT outsourcing for regulated entities. The Commission de Surveillance du Secteur Financier (CSSF) Circulars published in May could change the design of financial institutions’ operational processes in Luxembourg. More support for cloud-based services …
Governments across the world are increasingly putting tax transparency at the top of their agenda. In this context, the OECD developed the Common Reporting Standard (CRS) as a global reporting standard to achieve a complete and multilateral automatic exchange of information framework. The Luxembourg CRS first reporting is due on …
With more than 75% of UCITS funds distributed all over the world, Luxembourg is a global leader for cross-border distribution of investment funds. At this magnitude, new players have emerged: Management Companies. These companies can market funds using the passport throughout the European Union. Luxembourg hosts nearly 300 of them. All …
As a cost-effective way to achieve a broadly diversified portfolio, ETFs are hard to beat. In Europe, this market has grown steadily and boasted approximately US$565 billion Assets under Management at December 2016. Industry participants expect asset growth to accelerate by approximately 27% annually over the next five years. Here are four …
The European Parliament has approved the new Regulatory Technical Standards for PRIIPs in early April. Whether you are an insurer, banker, asset manager or third party, you fall within their scope.
All OECD and G20 countries have committed to implementing country-by-country reporting. Luxembourg, among other countries, has agreed that country-by-country reporting is a key priority in addressing BEPS risks. Reporting takes place with respect to fiscal periods starting from 1 January 2016. As electronic notifications are due by 31 March 2017, …
For global asset managers, choosing the right fund domicile is a strategic decision. Whether seeking to establish UCITS or AIF or both, Luxembourg is a hotspot for cross-border fund distribution.
