International Financial Reporting Standards (ifrs) For Financial Institutions Training Course

Introduction

Master the intricacies of financial reporting with our essential International Financial Reporting Standards (IFRS) for Financial Institutions Training Course. This program provides in-depth knowledge of IFRS requirements specific to financial institutions, covering accounting for financial instruments, impairment testing, and regulatory reporting, ensuring your institution can maintain compliance and transparency. Mastering IFRS is crucial for financial institutions seeking to enhance financial reporting accuracy, streamline regulatory compliance, and build stakeholder trust in the global financial landscape. Our central bank IFRS training course provides in-depth knowledge and practical applications, empowering you to implement robust financial reporting frameworks.

This International Financial Reporting Standards (IFRS) for Financial Institutions training delves into the core components of IFRS compliance, covering topics such as financial instrument accounting, impairment testing methodologies, regulatory reporting requirements, and best practices for IFRS implementation. You’ll gain expertise in using industry-leading tools and techniques to International Financial Reporting Standards (IFRS), meeting the demands of contemporary financial reporting standards. Whether you’re a financial accountant, compliance officer, or auditor within a financial institution, this International Financial Reporting Standards (IFRS) course will empower you to drive strategic initiatives and optimize financial reporting outcomes.

Target Audience:

• Financial Accountants (Financial Institutions)
• Compliance Officers (Financial Institutions)
• Auditors (Financial Institutions)
• Regulatory Reporting Specialists (Financial Institutions)
• Financial Analysts (Financial Institutions)
• Risk Managers (Financial Institutions)
• Finance Directors (Financial Institutions)

Course Objectives:

• Understand the fundamentals of International Financial Reporting Standards (IFRS) for Financial Institutions.
• Master the application of IFRS requirements for financial instrument accounting.
• Utilize impairment testing methodologies for financial assets.
• Implement regulatory reporting requirements under IFRS.
• Design and build IFRS compliance frameworks for financial institutions.
• Optimize methodologies for IFRS implementation and reporting.
• Troubleshoot and address common challenges in IFRS compliance.
• Implement strategies for enhancing financial reporting accuracy and transparency.
• Integrate IFRS requirements with existing financial reporting systems.
• Understand the theoretical foundations of IFRS accounting.
• Explore emerging trends in IFRS and financial reporting standards.
• Apply real world use cases for IFRS in financial institutions.
• Leverage IFRS reporting tools and platforms for efficient implementation.

Duration

10 Days

Course content

Module 1: Introduction to IFRS for Financial Institutions

• Fundamentals of International Financial Reporting Standards (IFRS) for Financial Institutions.
• Overview of IFRS requirements specific to financial institutions.
• Setting up a framework for robust IFRS compliance.
• Introduction to financial instrument accounting, impairment testing, and regulatory reporting.
• Best practices for IFRS implementation initiation.

Module 2: Financial Instrument Accounting

• Mastering the application of IFRS requirements for financial instrument accounting.
• Implementing IFRS 9 for classification and measurement of financial assets.
• Utilizing hedge accounting and derecognition principles.
• Designing and building financial instrument accounting frameworks.
• Best practices for financial instrument accounting.

Module 3: Impairment Testing Methodologies

• Utilizing impairment testing methodologies for financial assets.
• Implementing expected credit loss (ECL) models under IFRS 9.
• Utilizing forward-looking information and scenario analysis.
• Designing and building impairment testing frameworks.
• Best practices for impairment testing.

Module 4: Regulatory Reporting Requirements

• Implementing regulatory reporting requirements under IFRS.
• Utilizing Pillar 3 disclosures and regulatory templates.
• Implementing strategies for compliance with reporting deadlines.
• Designing and building regulatory reporting frameworks.
• Best practices for regulatory reporting.

Module 5: IFRS Compliance Frameworks

• Designing and build IFRS compliance frameworks for financial institutions.
• Utilizing internal controls and governance structures.
• Implementing documentation and audit trails.
• Designing and building compliance monitoring systems.
• Best practices for IFRS compliance.

Module 6: IFRS Implementation and Reporting

• Optimizing methodologies for IFRS implementation and reporting.
• Utilizing accounting software and reporting platforms.
• Implementing strategies for data management and validation.
• Designing and building IFRS reporting workflows.
• Best practices for IFRS implementation.

Module 7: Troubleshooting IFRS Compliance Challenges

• Troubleshooting and addressing common challenges in IFRS compliance.
• Analyzing accounting errors and reporting discrepancies.
• Utilizing problem-solving techniques for resolution.
• Resolving common audit and regulatory issues.
• Best practices for issue resolution.

Module 8: Enhancing Reporting Accuracy

• Implementing strategies for enhancing financial reporting accuracy and transparency.
• Utilizing data validation and reconciliation processes.
• Implementing strategies for improving disclosure quality.
• Designing and building reporting accuracy frameworks.
• Best practices for reporting accuracy.

Module 9: Integrating IFRS Requirements

• Integrating IFRS requirements with existing financial reporting systems.
• Utilizing API integrations and data standardization.
• Implementing secure data exchange and reporting protocols.
• Designing and building integrated IFRS systems.
• Best practices for system integration.

Module 10: Theoretical Foundations

• Understanding the theoretical foundations of IFRS accounting.
• Utilizing conceptual frameworks and accounting principles.
• Implementing models for analyzing financial statement presentation.
• Designing and building robust theoretical frameworks.
• Best practices for foundational understanding.

Module 11: Emerging Trends

• Exploring emerging trends in IFRS and financial reporting standards.
• Utilizing AI-driven financial reporting and analysis.
• Implementing blockchain for secure data storage and transaction verification.
• Designing and building future-proof reporting systems.
• Optimizing advanced reporting applications.
• Best practices for innovation in IFRS.

Module 12: IFRS Reporting Tools

• Leveraging IFRS reporting tools and platforms for efficient implementation.
• Utilizing accounting software and reporting platforms.
• Implementing data analytics and visualization tools.
• Designing and building automated reporting workflows.
• Best practices for tool implementation.

Module 13: Monitoring and Metrics

• Implementing IFRS reporting project monitoring and metrics.
• Utilizing compliance rates and reporting accuracy metrics.
• Designing and building performance dashboards.
• Optimizing monitoring for real-time insights.
• Best practices for monitoring.

Module 14: Future of IFRS Reporting

• Emerging trends in IFRS reporting technologies and frameworks.
• Utilizing AI-driven financial reporting and compliance.
• Implementing decentralized reporting models.
• Best practices for future IFRS management.

Module 15: Security Automation in Reporting Systems

• Automating security tasks within reporting systems.
• Implementing policy-as-code for compliance checks.
• Utilizing automated vulnerability scanning for financial data.
• Best practices for security automation within reporting systems.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training.