€190 - €350
Live Online
8 CPD Units | 8 Hours
HRDA Subsidised
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
An ability to understand the financial statements of a company to identify abnormalities and indications of suspicious events is one of the most vital skills for aspiring anti-money laundering officers to develop. Armed with this knowledge, they can better identify red flags in the financial information of a company in order to further investigate them.
Financial statements tell a story of what happened to a company during a specific period. The story explains the financial position of the company and its changes and describes its performance, offering a window into the decisions made by the management of the company, which can be difficult to gauge using other means. While accountants and finance specialists are trained to read and understand these documents, many business professionals are not. The effect is a complication of critical information.
Additionally, it is a fact that preventing money laundering and the financing of terrorism is the responsibility of all those working in the financial services industry. Regulators around the world are more focused than ever on the role played by professionals such as accountants and lawyers in acting as the ‘gatekeepers’ to prevent the abuse of financial services by criminals and terrorists.
This training programme will expose participants to the world of financial statements with the purpose of learning to read the story behind the numbers presented and identify suspicious events that may occur within a company.
Training Objectives
By the end of the programme, participants will be able to:
Describe the context and purpose of financial reporting.
Separate financial information that relates to assets, liabilities, equity, expenses, and income.
Describe the main elements of financial accounting information â assets, liabilities, revenue, and expenses.
Describe the process of analysing the financial statements to identify suspicious events.
List the main financial ratios that can be used to assess the financial activities of the company from an AML perspective.
Explain the main principles of financial reporting.
Explain the main elements of the financial statements and their changes and reclassifications.
Perform the analysis of a financial statement and interpret financial information.
Choose the appropriate financial ratios to identify the information needed.
Justify the suspicious report.
Perform a proper financial statement analysis.
Manage stakeholders' expectations.
Assess the activities of the organisation to apply the requirements of the regulatory requirements.
Recommend solutions based on financial information analysed.
Justify the importance of properly analysing the financial information.
Training Outline
The financial statement and its analysis
Objectives of financial analysis
Information content of the balance sheet, profit and loss account and cash flow statement
Accounting policies and their impact on the financial statements
The role of additional information
Creative accounting and its prevention
Current and emerging issues in corporate reporting:
- Loans to third and related parties
- Dividends payment policies
- Redemption of shares
- Interest in other entities (associates and subsidiaries)
- Financial instruments
Qualitative analysis - risk
Initial analysis of the financial statements
Horizontal and vertical balance sheet analysis
Horizontal and vertical analysis of the profit and loss account
Cash flow statement analysis
Analysing Financial Statements from AML's point of view
What financial statements can't tell you - review the limitations of financial analysis
An introduction to ratio analysis
Applying ratios to determine abnormalities
Understanding anti-money laundering (AML) risk in accountancy
Understanding regulatory requirements
Potential red flags including tax fraud
Raising suspicion
Exploring the use of financial ratios to analyse trends, make industry comparisons
Who Should Attend
AML Managers/Officers
Financial analysts
Lawyers
Bankers
Anyone who wants to know about financial statements analysis
Training Style
Illustration of key terms and concepts
Preparation and discussion of practical examples, including mini cases
The course will have both a theoretical and practical framework with real examples drawn from actual companies, local and international
Activities and Break-out groups
CPD Recognition
This programme may be approved for up to 8 CPD units in Accounting and Auditing. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership. This training course may be approved as an external activity under the new ACAMS recertification category ”non-ACAMS credits” for up to 8 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Marios Mortis
Marios Mortis holds a Bachelor's degree in Business Administration with a focus on Accounting, as well as a Master's degree in Banking and Finance. He is a qualified member of the Association of Certified Chartered Accountants (ACCA). Marios has accumulated valuable experience working in various positions and companies within Cyprus's accounting, audit, advisory, assurance, and banking sectors. In the past seven years, Marios has embarked on a new and fulfilling career path in the field of education, which he finds both challenging and fascinating. He served as a Visitor Academic at a local university in Cyprus, where he taught several courses, including corporate governance and business ethics, corporate finance, corporate risk management, and audit and assurance. Currently, Marios holds the position of Trainer and Accountancy Programmes Leader at EIMF (European Institute of Management and Finance). In this role, he oversees the management of both professional and academic accounting and finance programmes. Marios has successfully designed and delivered professional training courses covering topics such as corporate reporting, tax, AML (Anti-Money Laundering), funds, forensic accounting, financial analysis, auditing, and financial workshops. Furthermore, Marios is entrusted with leading the Department of Accounting & Finance within EIMF's Academic School. He actively engages in research within the domains of finance and accounting, contributing to both academic and professional endeavors in these fields.
The invoice is issued on the day the course starts.
Payments can be made by bank transfer, cheque, or credit card.
Certificates are issued within 7–10 days after the course has been completed, provided that the invoice has been paid.
Once your certificate has been issued, you will receive an automated email from Cademy notifying you that it is available.
Click the Get Your Certificate button in the email to download your certificate.
You can also access it from your Cademy account:
To access the course materials, such as presentations and recordings:
The Human Resource Development Authority (HRDA) of Cyprus is a semi-government governmental organisation that supports the development of workforce skills through training and development initiatives. Eligible training programmes approved by the HRDA may qualify for a subsidy, reducing the participation cost for eligible organisations and individuals, subject to the HRDA's terms and conditions.
The HRDA subsidy is available to:
To receive the subsidy, eligible persons must attend at least 75% of the course.
ERMIS is the online platform of the Human Resource Development Authority (HRDA) of Cyprus, used for managing training programme registrations, participant details, subsidy applications, and attendance records. All participants attending HRDA-approved courses must have an ERMIS profile and use the platform’s attendance register to check in and check out during each course session. https://ermis.anad.org.cy/
To attend an HRDA-approved course, you must:
See the FAQs below for detailed instructions.
After booking your course through the EIMF website, you must also register through ERMIS, provided that the required profile(s) have already been created.
You must register through your personal ERMIS profile.
For example: If your organisation includes multiple companies, make sure each participant is registered under the correct company profile.
Around one week before the course starts (or immediately after booking if you register less than one week before the course), we will email you the HRDA course details and instructions on how to complete your ERMIS registration.
Yes. ALL participants attending HRDA-approved courses must have an ERMIS profile, whether applying for the subsidy or not.
You can create or access your ERMIS profile here: https://ermis.anad.org.cy/
When registering for the course through ERMIS, you must upload both of the following documents obtained from the Public Employment Service:
You must update your ERMIS profile:
When submitting your request, you must upload one of the following:
Yes. All participants must log onto the ERMIS system and check onto the attendance register when they join a course session and check out when they leave a course session, as HRDA records attendance.
To receive the subsidy, eligible persons must attend at least 75% of the course. Check-ins and check-outs reflect actual attendance.
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