Chartered accountant (expert-comptable) in Luxembourg: role, requirements and how it differs from an accountant

A title protected by law

Comptable and expert-comptable: one extra word, two different professions.

In Luxembourg, the profession is organised by the law of 10 June 1999 on the organisation of the chartered accountancy profession. Its Article 2 is explicit: nobody may carry out the activities of a chartered accountant, even on an ancillary or occasional basis, or use the title or a similar name, without being authorised under the business-establishment law. In other words, the title has to be earned, and it can be checked.

For businesses, this means that when you choose a firm you can rely on a clear legal framework: degree, experience and good-repute conditions checked by the administration, and membership of a professional body.

What does a chartered accountant do?

According to Guichet.lu, the liberal profession of chartered accountant covers:

• organising, reviewing and correcting accounting records and accounts of all kinds;
• preparing balance sheets and analysing, using accounting techniques, how businesses are doing from an economic and financial point of view;
• bookkeeping, company domiciliation, payroll and social-secretariat services;
• tax advice and preparing tax returns, or contractual audits of accounts.

In practice, the chartered accountant is often the person who turns a year of invoices, bank statements and receipts into annual accounts and tax returns. The better organised your documents are during the year, the more their time goes into analysis and advice rather than reconstruction. Our guide Accounting for self-employed professionals in Luxembourg explains a routine that makes this easier.

Three steps to practise

To practise, a chartered accountant needs a business permit (autorisation d’établissement).

The permit is issued to the business (the professional operating in their own name or the company they manage) if the manager meets the legal qualification and good-repute conditions and the business has a fixed place of business in Luxembourg. For the qualification, Guichet.lu sets three conditions:

1. 1
   A degree: a bachelor’s degree in economics, finance, management, business law or equivalent, from a recognised higher-education institution (registered in the register of qualifications where required).
2. 2
   Experience: 3 years of professional practice in the field after the degree, including at least 1 year with a duly established chartered accountant.
3. 3
   A test: a certificate of success in the aptitude test that concludes the supplementary training for candidate statutory auditors and chartered accountants, organised by the University of Luxembourg.

The application can be filed online through MyGuichet.lu with a LuxTrust product, or by post. The chancery fee is EUR 50. For how the permit works in general (who issues it, deadlines, good repute), see our article Business permit in Luxembourg.

Membership of the Ordre des experts-comptables

The 1999 law creates a national Ordre des experts-comptables with legal personality. Its Article 10 provides that chartered accountants, whether individuals or legal entities, who meet the good-repute and qualification conditions must be registered as members of the Ordre. Members are listed on a roll published at least once a year in the Mémorial.

For a chartered accountancy firm, the law adds two majority rules: most of the directors or managers, and the majority of voting rights, must be held by individuals who themselves meet the conditions to practise the profession.

Accountant or chartered accountant: what is the difference?

The accountant (comptable) is also a liberal profession that requires a business permit, but with a narrower scope. According to Guichet.lu, an accountant may not provide the services reserved for chartered accountants and is limited to organising the books and preparing balance sheets and tax returns, within two thresholds over 2 consecutive financial years.

For a small SARL or a self-employed professional, an accountant may therefore be enough. Once a business grows beyond the thresholds, or for the reserved services, a chartered accountant is required.

Léa’s example

Fictitious example, for illustration only.

Léa holds a bachelor’s degree in management. After graduating, she works three years at a chartered accountancy firm, which covers both the 3 years of practice and the year with a chartered accountant. She takes the supplementary training and passes the aptitude test.

1. 1
   She files her business-permit application on MyGuichet.lu, with her degree, her test certificate and the good-repute documents (sworn statement, criminal record extract).
2. 2
   She pays the EUR 50 chancery fee.
3. 3
   Once authorised, she is registered with the Ordre des experts-comptables and may use the title.

Working with your chartered accountant

A good chartered accountant works faster with clean data: invoices matched to payments, organised receipts, VAT tracked. The Zuelen directory of fiduciaries lets you find a professional by specialty, language or location, then give them access to your workspace, without sending files back and forth by email.

This article is general information and does not constitute legal advice. For your situation, check the official sources or consult a professional.