The Canadian Investor Relations Institute (CIRI) and the Rotman School of Management (Rotman) are currently developing a rigorous curriculum for the CIRI Investor Relations Certification Program that will cover all relevant areas of this multi-disciplinary role including finance, capital markets, securities law, corporate governance and communications.

A sample of topics can be found below. 


Finance & Accounting


Accounting & finance
supplemental workshop

  • Debits & credits
  • Time value of money

Financial statement analysis

  • Income statements
  • Balance sheets
  • Cash flow statements

Financial ratio analysis

  • Liquidity metrics
  • Resource management metrics
  • Capacity metrics
  • Profitability metrics
  • Differences across sectors

Understanding annual reports

  • Financial reporting regulations
  • Management discussion & analysis
  • Annual report case study

Corporate finance & capital structure

  • Bonds
  • Stocks
  • Cost of capital
  • Debt-equity mix

Business valuation

  • Book value versus market value
  • Capitalized earnings approaches
  • Multiples & comparables
  • Discounted cash flow

Capital raising, mergers & acquisitions

  • IPOs, SEOs, recapitalization
  • Merger & acquisition activity
  • Spin-offs & reorganization
  • Cross-listings

Understanding analyst research reports

  • Research report case study
  • Financial forecasting
  • Drivers of growth & risk
  • Earnings guidance
  • How IR can develop models

Integrative case study & presentation

  • "Investor day" role-play and case study


Capital Markets & Regulation


Capital markets

  • Capital markets: trading
  • Market efficiency: concepts & evidence
  • Pricing models
  • Behavioural finance: concepts & implications

Regulation: disclosure

  • Corporate disclosure policies
  • Materiality & how to determine it
  • Compensation use & disclosure
  • Say-on-pay issues
  • Shareholder engagement

Regulation: securities law

  • Security law related to debt issues, equity & share buybacks
  • Transfer agent duties
  • Stock exchange rules, M&A rules, Proxy voting
  • Competition law, anti-competitive behaviour & IR potential pitfalls


  • CIRI code of ethics
  • Business ethics



Effective IR presentations

  • Telling the company’s story through a variety of media
  • Presenting & reporting to the Board
  • Effective IR presentations peer "workshop"

Crisis management

  • Media & investor relations during a crisis

Additional IR communication tools

  • Using communication tools such as websites, list of FAQ's, press releases, conference calls, and social media tools


Corporate strategy

  • Understanding corporate strategy
  • Board of director role
  • Board engagement

IR Strategy

  • Key steps in developing an IR strategy
  • Design IR programs
  • Identify an existing and an ideal shareholder base
  • Develop IR reports

Assessing competition

  • Competitive landscape
  • Core competencies

Shareholder activism

  • Shareholders & competitors
  • Annual meetings during crisis


  • Understanding the nature of interdependence between negotiation parties
  • Applying key concepts of negotiation
  • Building trusting relationships with key stakeholders
  • Negotiating in an IR context

A Strong Partnership

With the investor relations industry facing rapid transformations, ongoing learning and development is more crucial than ever before. Rotman recognizes that investor relations professionals play a key role in ensuring the fairness and efficiency of capital markets and is delighted to support their commitment to professional excellence ”

Stephanie Hodnett
Executive Director of Rotman Executive Programs

Have Questions?


Do you have questions about the CIRI Investor Relations Certification Program or certification exam? If so, contact Kaitlin Davis.  

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