Online Certification on Common Reporting Standard (CCRS) from International Chamber of Commerce (ICC) Academy
The Common Reporting Standard (CRS) is an internationally agreed standard for the automatic exchange of information (AEOI) on financial accounts. Its goal is to increase the fiscal transparency of cross-border wealth management and combat offshore tax evasion. 109 jurisdictions have exchanged information under the CRS as of 2020.
The CCRS course will help you and your team to tackle issues such as - Explaining tax data requests to customers; Validating the reasonableness of tax status claims; Handling exceptions; Monitoring for Changes in Circumstance (CIC) or Annual reporting obligation (volume and complexity).
Designed for front office, compliance, operations and tax professionals, this online certification aims to provide an understanding of the key requirements and intentions of the CRS regime, and how to incorporate them as part of a strategic compliance operating model.
The course will benefit representatives of financial institutions around the world. Especially, professionals working in the area of Compliance, Finance or Tax but also Operations specialists or Relationship Managers are addressed.
- Duration: 4 Hours
- Lessons: 6
- Downloadable study guide
- Exam: 60 mins
- Languages: English
- Learn more about the CCRS program
Certificate in Common Reporting Standard (CCRS)
- Divided into six lessons, the four-hour interactive course helps understand how to incorporate the CRS regime as part of a strategic compliance operating model. Professionals can learn how to navigate common issues while onboarding clients or review change in circumstances, including preparing them for reporting exercises and audits.
- All the courses are online meaning they can be taken at any time of day, from anywhere in the world. Fit them in around your busy workload and learn at your own pace
- To take the exam and earn CCRSC Certificate you will need to complete the 6 lessons within the 6-month access period.
CCRS Certification Outline
- Lesson 1 - Automatic Exchange of Information and CRS: This lesson provides the background and the key objectives of the Common Reporting Standard.
- Lesson 2 - CRS Reporting Basics: Gain a solid understanding of what data is to be reported, for which type of accounts, in what type of general format.
- Lesson 3 - Due Diligence on Opening New Accounts: This lesson will walk you through all the key requirements to validate data for new accounts, including the reasonableness of tax status claims.
- Lesson 4 - Remediation of Pre-Existing Accounts: Understand the various strategies financial institutions can adopt when it comes to remediation of pre-existing accounts.
- Lesson 5 - Monitoring for Changes in Circumstances (CIC): Understand the meaning of CIC and what kinds of data changes constitute a CIC.
- Lesson 6 - Best Practices for a Comprehensive Compliance Strategy: Learn how to comply with the CRS in conjunction with other due diligence procedures, such as AML/KYC, which rely on a lot of common data points.
For more information or to join the CCRS program: