Ivey is pleased to offer North America's first and only investor relations certification program with the Canadian Investor Relations Institute.

Once completed, participants will be eligible to write the certification examination for a nominal fee and become a Certified Professional in Investor Relations.

Upcoming Sessions

Join us for one of our upcoming sessions.

Date Location Fee
Oct 02 - Oct 04, 2017

Program extends over a 10 month duration. CIRI Members: $8,950
TBD $9,450 CDN
  • Program fees are tax exempt.

Call us: 1.800.948.8548 or 1.519.661.3272

  • Starts with 3-days in-class. October 2 - 4, 2017 in Toronto.
  • 12 online sessions (Dates TBD) - each online session consists of a two hour video to watch at your leisure and a one hour live online session
  • Concludes with 2 days in-class at CIRI's Annual Investor Relations Conference.
  • Optional 1 day in-class Finance and Accounting Tutorial - October 1, 2017. Tutorial fee: $1,500 CIRI members, $1,600 non-members.

Who Should Attend?

Investor Relations Professionals seeking certification. A limited number of spaces are available.

The CIRI/Ivey Investor Relations Certification Program is a stimulating, challenging, and rewarding experience. The program structure includes 3 days of classroom learning. This is followed by 12 online sessions spanning over 10 months, and finishing with 2 days in-person at the Annual CIRI Conference. Participants who successfully complete the Certification Program will then be given the opportunity to write the CIRI certification exam. More details on program content are below.

Program Content Mix

  • Breakdown of content will be approximately as follows:

Content % of Program
Finance & Accounting 40%
Capital Markets & Regulation 20%
Communications 20%
Strategy 20%

Optional Accounting & Finance Tutorial

This supplementary tutorial is a one-day workshop designed for those participants who have limited exposure to financial accounting and the analysis of financial statements. The objective is to provide a crash course on transaction analysis and the accounting cycle including the preparation of the balance sheet and an income statement. Many of the fundamental accounting concepts, including money measurement, entity concept, going-concern concept, matching concept, etc., will be discussed as well as the difference between accrual accounting and cash flow. In addition, time value of money will be discussed in order to understand the basics of valuation.

Finance & Accounting

Finance and Accounting makes up 40% of the program content.

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 and Regulation makes up 20% of the program content.

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
  • Ethics case studies


Communications makes up 20% of the program content.

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, lists 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


To participate in the CIRI/Ivey Investor Relations Certification Program you must:

  • Have at least three years investor relations experience where 50% or more of your time was spent on investor relations


  • Have four years of related corporate experience and have participated in CIRI's Essentials of IR program within the past five years


  • Have four years of combined experience in investor relations and a related field and have participated in CIRI's Essentials of IR program within the past five years

Related investor relations corporate experience may include:

  • Finance
  • Communications
  • Marketing
  • Capital Markets


Application Process

To enroll in the CIRI/Ivey Investor Relations Certification Program you must complete the following steps:

Applications are considered on a first come, first served basis.



In order to maintain your Certified Professional in Investor Relations (CPIR) designation, you must maintain your membership in CIRI, agree to comply with CIRI's code of ethics and complete a minimum of 14 continuing education units (CEU) annually. The following are the broad categories that will be considered for CEUs. 

  1. Continuing Education/Events: Activities include the Annual Conference; IRO Roundtables; workshops and local Chapter events.

  2. Instruction/Mentorship: Activities include speaking at CIRI National and Chapter events and mentoring through the Chapter mentorship programs.

  3. Articles/Research: Activities include researching and authoring articles for CIRI publications and participating in a CIRI issues/research task force.

  4. Board/Committee Volunteer: Activities include volunteering on a CIRI National or Chapter Board or Committee. 

For more information about the number of CEUs attached to each activity and for the CEU log form, click here.


“Every IRO role is not the same. We work in different industries, for different businesses and have different core responsibilities. What’s been great about the CIRI/Ivey Certification Program is that it brings together what is core about being an IRO, regardless of where one works. I have gained a broader understanding of what can and should be done by an IR team to help create and communicate shareholder value. The insights from the professors and the network of IR professionals I have met will be invaluable as I move forward in my career.”

Mary Lou Frazer, CPIR, Senior Director, Investor & Financial Communications, Canadian Imperial Bank of Commerce

"I thoroughly enjoyed and benefited from the CIRI/Ivey Investor Relations Certification Program. It  gave me the opportunity to connect with IR professionals from across Canada, in addition to learning from the highly regarded faculty at the Ivey Business School. I took away something meaningful from every session."

Nathalie Megann, Vice President, Investor Relations and Corporate Affairs, Chorus Aviation Inc.

Steve Foerster

Steve Foerster: Faculty Director

Professor Steve Foerster is an authority on corporate finance and investments. He has written the book Financial Management: Concepts and Applications, co-authored the book Cases in Financial Management, edited the book Finance and Money Market Cases, and has written over 90 business case studies and notes.

He has published over 50 academic articles and book chapters in leading academic and applied finance journals. Along with his Ph.D., he holds the Chartered Financial Analyst (CFA) designation. Steve was extensively interviewed and quoted in the media during the recent global financial crisis, including in The Globe and Mail and on CBC. He is a recipient of Ivey's Teaching Innovation Award.

Clients: Alcan Inc., Bank of Montreal, Falconbridge, Canadian Securities Institute, Harris Bank, Institute of Canadian Bankers, J.D. Irving, Noranda, Royal Bank, Scotia Capital Markets, Siemens, Syngenta and the Toronto Stock Exchange.

David Carey

David Carey

David Carey, Senior Vice President Capital Markets for ARC Resources Ltd. in Calgary, Alberta, teaches on the CIRI/Ivey Investor Relations Certification Program. He has over thirty years of diverse experience in the Canadian and international energy industries covering exploration, production, project evaluations, acquisitions, finance and investor relations in conventional western Canada, oilsands (both mining and in-situ), the Canadian frontiers and international.

David holds both an Honours B.Sc. in Geological Engineering and a MBA from Queen’s University in Kingston, Ontario and has received his ICD.D certificate from the Institute of Corporate Directors. He is the Past Chairman of the Board of the Canadian Investor Relations Institute, a member of the Petroleum Advisory Committee for the Alberta Securities Commission and a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta.

Carol Hansell

Carol Hansell

Carol Hansell, Founder and Senior Partner at Hansell LLP, teaches on the CIRI/Ivey Investor Relations Certification Program.

Carol completed her MBA at York University and her areas of expertise are in capital markets, corporate governance and mergers and acquisitions. She is a member of the National Association of Corporate Directors and has taught courses on corporate and securities law, financial statements, transactions and negotiation skills. Carol has written and published a number of papers, articles and commentaries on corporate governance and has also spoken widely in the area. She is the author of the best-selling What Directors Need to Know: Corporate Governance, a resource for corporate directors, and Directors and Officers in Canada: Law and Practice, a loose-leaf service and is a contributing editor to Corporate Governance, a quarterly journal published by Federated Press. She has received many awards and recognition for her work, most recently was identified as one of 2011 Canada's Most Powerful Women: Top 100 in the category of Corporate Directors. Carol sits on numerous boards and is affiliated with the American Bar Association, the National Association of Corporate Directors and the Canadian Investor Relations Institute.

Fernando Olivera

Fernando Olivera

Fernando Olivera is an Associate Professor of Organizational Behaviour at Ivey Business School. He joined the Ivey Faculty in 1998. He earned a Ph.D. and M.S. in Industrial Administration from the Graduate School of Industrial Administration at Carnegie Mellon University.

Professor Olivera teaches courses in Organizational Behaviour and Interpersonal Negotiations in Ivey's MBA, Executive MBA, and Ph.D. programs as well as in the Ivey Leadership Program for Executives. He has over 14 years of experience in executive education and has conducted Negotiations training for various organizations, including Hutchinson Port Holdings, Telus, J.D. Irving Limited, Ericsson, Teknion, the Toronto Board of Trade, Hoffman-Roche, and New World Development (China).

His primary research interests are in the areas of organizational memory, group and individual learning, and the impact of communication technology on group work. His work has been published in the Academy of Management Review, Management Information Systems Quarterly, Small Group Research, the Journal of Management Studies, the Research on Managing Groups and Teams book series, and other books and conference proceedings. He has presented his work at various academic conferences, including the Academy of Management Annual Meetings, the Society of Industrial and Organizational Psychology, and the Institute for Operations Research and the Management Sciences. He is a member of the editorial review board of the Journal of Organizational Behavior and Organization Science.

Mark Reno

Mark Reno

Mark Reno, Assistant Professor and Post-Doctoral Research Fellow with Ian O. Ihnatowycz Institute of Leadership, teaches Business Ethics on both Ivey’s HBA Program and the CIRI/Ivey Investor Relations Program. His research in Leader Integrity and Character has been featured in prominent business journals, Ivey case studies, presentations and will be included in The Handbook of Virtue Ethics in Business and Management (Forthcoming, 2014).

He was awarded the SSHRC Insight Grant for his work with Mary Crossan, Gerard Seijts and Jeffrey Gandz on their Leader Character Study: requisite character strengths for organizational leaders; associated motivations, capacities, personality traits, and conduct; and, learning processes that cultivate leader character strengths. In addition to his Ph.D. from the University of Toronto, Mark also holds a Master of Education from University of Toronto and Master of Business Administration from Ivey Business School.

Rick Robertson

Rick Robertson

Rick Robertson, Professor of Managerial Accounting and Control, has extensive experience with executives, as well as, MBA and HBA students. He is the former Director of both the MBA and HBA programs. His teaching area is accounting with a focus on financial accounting and personal and corporate taxation.

Rick has taught extensively on professional accounting programs designed to prepare future accounts and has served on several committees of the Institute of Chartered Accountants of Ontario (ICAO), including being the Chairperson of the Examinations Committee. Rick has published numerous articles which have appeared in CAmagazine, Ivey Business Journal and Canadian Public Policy. He has made numerous presentations to professional groups from his extensive research entitled Corporate Sponsored Pension Plan.

Clients: Bell Canada, Maple Leaf Foods, Siemens and Syngenta.

Glenn Rowe

Glenn Rowe

Glenn Rowe, Associate Professor, General Management, has taught on all Ivey degree programs as well as executive education programs. After serving in the Canadian Navy for 22 years, he completed his PhD at Texas A&M University.

Glenn has published several journal articles on his research in strategic leadership and strategic management, been featured in the Ivey Business Journal and is an active case writer. He serves as a reviewer for several academic journals and is active in the community where he has served as the Vice-Chair and member of the Board of Directors of The International Alliance for Missions and as a member of the Board of Directors of the Newfoundland and Labrador Employers' Council.

Clients: Association of Canadian Publishers, the Alliance for the Control of Tobacco (Newfoundland and Labrador), the Newfoundland and Labrador Medical Association, Fishery Products International, Gros Morne National Park, and Sir Wilfred Grenfell College.

Michael Sider

Michael Sider

Michael Sider, Professor of Management Communication, has extensive teaching experience in both degree and executive education and is an expert on intercultural communications.

While developing and delivering communications workshops for many leading international organizations, he has developed many specialized communications and writing workshops for groups such as lawyers, engineers, economists and political scientists. His teaching workshops have helped professors to become more accomplished teachers. In 2004, Michael was recognized for his contribution to teaching by being selected as one of the top business teachers in Canada by Canadian Business.

Clients: Ford, GM, 3M, Purina, TELUS, McCormick, Maple Leaf Foods, J.D. Irving, Agnico-Eagle, Canadian Investor Relations Institute, City of London, City of Stratford, Syngenta, CIBC, The Weather Network, London Board of Education, Human Resources Development Canada and Canadian Association of Independent Schools.