Common Reporting Standard (CRS)

Audit , Risk and Governance

Program code

ARCRSz

  • Course Duration: 3 days
  • Course Language: Arabic
  • Certification: Accredited Certificate from Technical and Vocational Training Center-Objectives:

    --Background to the CRS reporting requirements
    --Impact of CRS on the Financial Services Industry
    --Scope of the CRS reporting
    --Review and comparison with other similar regulations (CDOT, FATCA, DAC)
    --Review of financial accounts in scope and exemptions
    --Identifying reportable accounts
    --Customer identification and classification process
    --Due diligence process
    --Creating Rulemap
    --Best practices in working with and complying with CRS requirements
    --Governance - roles & responsibilities
    --Reporting solutions considerations
    --Key parameters for decision making
    --Business model consideration
    --Data standards and Importance of reference data
    --Project setup, milestones, attention points
    --Controls over CRS reporting
    --Key Success factor for delivering CRS
    --CRS implementation challenges

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  • Background to the CRS reporting requirements
  • Impact of CRS on the Financial Services Industry
  • Scope of the CRS reporting
  • Review and comparison with other similar regulations (CDOT, FATCA, DAC)
  • Review of financial accounts in scope and exemptions
  • Identifying reportable accounts
  • Customer identification and classification process
  • Due diligence process
  • Creating Rulemap
  • Best practices in working with and complying with CRS requirements
  • Governance - roles & responsibilities
  • Reporting solutions considerations
  • Key parameters for decision making
  • Business model consideration
  • Data standards and Importance of reference data
  • Project setup, milestones, attention points
  • Controls over CRS reporting
  • Key Success factor for delivering CRS
  • CRS implementation challenges

Register
  • Everyone with responsibilities of:
  • Cross Boder Transactions
  • FATCA Reporting
  • Regulatory Reporting and Compliance
  • Tax (operational)
  • Compliance AML Reporting Officer
  • Legal Compliance
  • IT
  • Project management
  • Data protection

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  • Background to the CRS reporting requirements
    • Why CRS was created and the reasoning in establishing the requirements
    • How CRS impacts the Financial Services Industry
    • Scope of CRS reporting
    • Review of other AEI regimes FATCA (US Foreign Account Tax Compliance ACT), CDOT (Crown
    • Dependencies and Gibraltar Regulations) and DAC (EU Directive on Administrative Cooperation in Tax Matters)
    • Reporting Timelines across AEI Initiatives and how they compare
  • CRS Reporting
    • Scope of CRS reporting
    • Review of financial accounts in scope and exemptions
    • Identifying reportable accounts
    • Customer identification and classification process
    • Critical categories of customers and counterparties
    • Due diligence process (documentation, evidence, retention, self-certification, aggregation, change of circumstances)
    • The purpose of the Rule map and their general impacts
  • Best practices in working with and complying with AEI requirements
    • Governance; roles & responsibilities
    • Reporting solutions considerations
    • Key parameters for decision making
    • Business model consideration
    • Data standards and importance of reference data
    • Project setup, milestones, attention points
    • Controls over CRS Reporting
    • Reconciliation
  • Key success factor for delivering CRS and CRS implementation challenges
    • Governance
    • IT infrastructure
    • Data aggregation and
    • Reporting practices
  • A multiple choice test will be performed at the end of the course to consolidate and check participants' knowledge.

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Program axes