Regulatory Framework and Statutory Financial Returns for Banks

Regulatory authorities of government have a duty of ensuring compliance with stipulations of government for the finance and banking sector. Customers derive confidence from the effectiveness of government regulations of the banking system. With the recent developments in the sector, tempo of regulation and the need to render timely returns have increased. With computers and networks, copious returns can be made quickly, cheaply and on a timely basis. This course is therefore very timely and strategic to ensure that all functionaries and operators of the Banking sector adhere completely to regulatory requirements, and international standards in the sector.

CONTENT

• Overview of Current developments in the Banking Sector
• The Regulalory framework
• The role regulatory authorities play
• Need for statutory financial returns
• Types of statutory returns and periodicity
• Specific requirements in respect of branch and head office returns
• Computations for test of compliance
• Returns by other financial institutions
• Duties and responsibilities of officers
• Offences and penalties
• The role of information technology in rendering adequate and timely returns
• Experience of other countries
• Personal income tax returns
• VAT and WHT returns
• Corporation tax returns
• CBN returns
• SEC returns
• Corporate affairs commission returns
• Emerging trends and future challenges 

FOR WHOM:

Senior Management Staff, Accountants, Branch Managers, Operations Managers, Computer Specialists, Auditors and others who perform related functions in the the Bank.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.