Course Outline
Introduction to CRS and Global Tax Transparency
- The origin and objectives of CRS and the Automatic Exchange of Information (AEOI)
- Defining reporting responsibilities: scope of Reportable Financial Institutions and accounts
- The interplay between CRS and FATCA: identifying overlaps and distinct requirements
Legal and Regulatory Context
- Jurisdictional adoption models and legal instruments (MCAA, national laws)
- Recent consolidated texts and amendments affecting due diligence and scope
- Compliance duties, key deadlines, and penalties for non-adherence
Due Diligence Basics: Determining Tax Residency
- Necessary documentation: managing self-certifications and reliable evidence
- Indicia search methods for both new and pre-existing accounts
- Broader due diligence approaches and leveraging AML/KYC data to verify tax residence
Operationalizing CRS: Onboarding, Data Management, and Systems
- Embedding CRS checks into client onboarding and regular review cycles
- Required data fields for reporting and strategies for data integrity and retention
- Assessing automation and vendor tools against manual processes; insights for service providers
FATCA-Aligned Requirements and Comparative Best Practices
- Shared elements with FATCA (entity classification, reporting mechanics, beneficiary treatment)
- Divergences to address (scope, bilateral vs. multilateral execution, regional variations)
- Practical mapping exercises: adapting FATCA controls to CRS-compliant workflows
Reporting, Exchange Protocols, and Audit Preparedness
- CRS report formats and submission channels; jurisdictional filing requirements
- Preparing for audits and regulator inspections: documentation, traceability, and proof of due diligence
- Illustrative reporting workflows and reconciliation validations
Risk Management, Governance, and Internal Controls
- Establishing governance structures, policies, and segregation of duties for CRS adherence
- Training, quality assurance, and exception management for complex or entity accounts
- Remediation strategies and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Analyze and verify sample account files and self-certifications to assess reportability
- Lab: Set up a basic data extraction and reporting checklist; generate a mock CRS XML output
- Case study: Managing complex entity structures, trusts, and control persons under CRS regulations
Summary and Future Steps
Requirements
- A foundational grasp of financial services or compliance roles
- Basic knowledge of tax principles and client onboarding processes
- Experience with AML/KYC procedures is beneficial but not mandatory
Target Audience
- Compliance officers and legal departments
- Personnel handling onboarding, KYC, and client due diligence
- Tax reporting and operational teams within financial institutions
Testimonials (3)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Flexibility in the course delivery and the interactive approach. The trainer was open to questions, clarified doubts clearly and also considered participants suggestions during the sessions. The training was well structured and informative.
Soundarya Mohan - Mizuho Bank Europe N.V.
Course - Financial Analysis in Excel
Good communication, open for discussion, kept it interesting and engaging
