Library picture of CSSF headquarters. Photo: Nader Ghavami
Luxembourg’s financial regulator has levied a total of nearly €100,000 in administrative penalties against four approved statutory auditors for breaching auditing standards.
The Financial Sector Supervisory Commission (CSSF) said the auditors were penalised for “professional misconduct and negligence which have led to the infringement of the legal and regulatory requirements relating to statutory audits.”
The CSSF did not name the auditors, their firms and the specific regulation that was breached in the four cases.
A CSSF official told Delano on Thursday that “the identity of the concerned persons will not be rendered public.”