Be compliant and manage risks

Solutions

Be compliant and manage risks

Ensure compliance with requirements and manage potential risks

Given the complexities associated with the business-as-usual close for your organization coupled with the challenges of conducting a virtual close, there is limited precedent into how a global pandemic such as COVID-19 will impact businesses across the market as they prepare to complete their first virtual close.

Not unlike other global crises, it is critically important to be prepared for COVID-19-related volatility and the likely impacts it will have on successfully preparing and executing the financial close process.

As always, our main objective remains the same: to provide you with the best quality of service. That is why we have developed this dedicated webpage, including key areas of focus, and information on how to plan, respond, and execute a virtual close.

Firm initiative

Current Luxembourg funding answers due to the Coronavirus

 

Advisory & Consulting


Tax

  • Fund Tax Reporting (FSI – Investment Management)
  • Tax Reclaims (FSI)
  • Mobility & Homeworking policy
  • Country-by-country reporting
  • Quality check of executive & employees’ travel calendars
  • Assess corporate tax risks deriving from homeworking, virtual meetings (incl. BoD), electronic signature etc.
 
 

 

Audit & Assurance

Certifying your compliance

Our Audit & Assurance professionals are uniquely positioned to create trust in your company. Leveraging our proven audit methodology and extensive industry expertise, Deloitte can provide assurance over financial reports, calculations or business processes and help you demonstrate compliance in the following areas:

  • Financial covenants

    Actions taken in response to the spread of Covid-19 have resulted in significant disruption to the operations of companies at a global level putting major constraints on their liquidity. With the impact of the shutdown also starting to reflect in financial reporting, financial covenants agreed with credit institutions may come under additional pressure.

    We can perform procedures to validate certain inputs to the covenant calculation and provide assurance over the compliance with the agreed indicators. 

Preparation, planning, and execution of the virtual close

Companies already face countless complexities related to the business-as-usual close. And now, there’s limited precedent into how a global pandemic like COVID-19 will impact finance organizations as they prepare to complete their first virtual close.

How can companies better prepare for COVID-19-related volatility and its likely impact on the financial close process?

Under this link, we provide guidance on how to plan, respond to, and execute the virtual close process, including sector-specific considerations for banking and capital markets, insurance, investment management, and real estate institutions.

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Contacts

Nick Tabone

Nick Tabone

Partner | Private Equity & Assurance Leader

Nick is a partner within the audit department and has over 20 years' experience in this area. He has enjoyed experiences in three other international Deloitte offices. Nick has gained vast experience ... More

Pascal Martino

Pascal Martino

Partner | Banking and Human Capital Leader

Pascal Martino has 18 years of experience in Business Consulting and Advisory services and developed a wide expertise in Private and Retail Banking. Pascal is leading the Banking industry transversall... More

Eric Centi

Eric Centi

Partner | Financial Services Tax

Eric is an expert in Operational Taxes where he assists financial institutions on topics such as: Aberdeen Tax Reclaims: Filing of withholding tax reclaims on behalf of investment funds on the basis o... More