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. As of 2020, 109 jurisdictions have exchanged information under the CRS.
Designed for front office, compliance, operations, and tax professionals, the Certificate on the Common Reporting Standard will help practitioners navigate common issues when onboarding accounts or reviewing changes in circumstances, and better prepare them for reporting exercises and audits.
This certificate is split into six lessons and a final exam, all taken online. All the lessons tackle a key problem or difficulty in implementing the CRS regime and have been developed in partnership with BearingPoint RegTech, experts in regulatory reporting.
- Automatic Exchange of Information and the CRS
- CRS Reporting Basics
- Due Diligence on Opening New Accounts
- Remediation of Pre-Existing Accounts
- Monitoring for Changes in Circumstance (CIC)
- Best Practices for a Comprehensive Compliance Strategy
After completing all learning modules, candidates take an exam based on the knowledge delivered through the course. ICC Academy examinations are proctored “live” via the Internet. The passing grade is set at 70%.
Candidates who pass the examination will be issued an accredited certificate (downloadable) for the programme and may use the “CCRS” designation.
Key features of the CCRS
- Top-of-the-line training created in partnership with regulatory experts
- Lessons designed to overcome the key challenges faced by financial institutions when trying to implement the CRS
- Exam is proctored ‘live’ via the Internet and can be scheduled anytime
- Access available for a 12-month period
The price for the full CCRS certification is €310,00. This includes access to all six e-courses, in addition to a one time attempt at the assessment examination.