Module 2

The purpose of this two and a half-day program is to provide experienced executives and directors with the essentials ability to perform their function of director in the most efficient manner.

The program covers the role and responsibilities of directors as well as their key duties in the major legal and regulatory framework specific to the Luxembourg business environment.

The program also offers the opportunity to discuss the role and added value of a director with both peers and experts.

Attendance to this program is mandatory for the candidates wishing to obtain the Certificate for Directors delivered by ILA. Regardless of the ILA certification, this program is also open to experienced executives and directors who want to strengthen their understanding of the different aspects of a director's duties in the specific context of Luxembourg.

The program is delivered over 8 interactive modules which are run by local practitioners and experts. The content involves not only academic presentations, but also case studies based on real life experience. Each module offers discussion opportunities and sharing of experience with both presenters and other course participants.

Introduction to Luxembourg company law
  • The primary forms of incorporation in Luxembourg 

  • Director's responsibilities in the incorporation process 

  • Shareholders 

  • Board composition 

  • Board powers & meetings

Director's duties and liabilities in Public Companies
  • Responsibility of individual directors 

  • Collective responsibility of the Board 

  • Case studies

Director's role and responsibilities in Financial Sector Institutions
  • The Luxembourg and EU regulatory framework 

  • CSSF views on good governance 

  • Director Suitability Assessments - "Fit & Proper" 

  • Hot topics

Tax law for Directors

  • Overview of corporate governance initiatives from the EU 

  • The effects on Independent Directors and Boards in Luxembourg

Accounting for Directors
  • Explanation of the differing international accounting standards and Luxembourg’s own standards

Director's duties in the European Union - recent trends
  • Understanding the Luxembourg tax environment and tax system, the responsibilities of directors in tax matters and the current hot topics related to tax.

Code of corporate Governance: importance and implementation
  • Explanation of the Luxembourg governance principles and issues related to their implementation 

  • Exploration of the relationship between good governance discipline, and good decision-taking

The challenge of being an independent director
  • Open Q&A session/panel discussion on the role of a non-executive directors faculty experts

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