What We Do

Membership and Regulation

The IPA licenses and regulates Insolvency Practitioners under insolvency and Anti-Money Laundering (AML) regulations, and works to raise professional standards through professional training, benchmarking, networking, best practice sharing and other engagement opportunities. The IPA is an organisation for those in insolvency practice or involved in insolvency-related work. In terms of the number of insolvencies, it is the largest of the four Recognised Professional Bodies (RPBs) identified by the Secretary of State for Business, Energy and Industrial Strategy (BEIS), under the Insolvency Act 1986, for the purposes of authorising and regulating Insolvency Practitioners in the UK. It is the only one of the bodies solely involved in insolvency. 

The IPA is also a listed AML Professional Body Supervisor (PBS), responsible for monitoring members’ compliance with money laundering regulations when carrying out their insolvency and advisory work.

The IPA is a member of external committees dealing with AML, including the Consultative Committee of Accountancy Bodies (CCAB), a forum with the aim of working together for the benefit of the profession, wider economy and the public interest; and the Accountancy AML Supervisors’ Group, made up of professional bodies working in collaboration to maintain consistent standards and best practice. We also support the Government’s Flag it Up campaign.

Click here to visit the AML section of our website.

IVA Volume Provider Regulation

In early 2019, the IPA introduced a bespoke new regulatory regime for providers of Individual Voluntary Arrangements (IVAs) at volume. In a new market trend, these firms were administering IVAs and Scottish Protected Trust Deeds (PTDs) at significantly higher volumes than ever before seen in the profession. In response, the IPA developed the Volume Provider Regulation (VPR) Scheme.

We are encouraged by the agile and significant oversight provided by the Scheme. During 2022, the VPR Scheme covered 63% of the IVA market and 75% of the PTD market. The Scheme market coverage is expected to increase further during 2023 with new members joining.

The latest benchmark report on the Scheme can be viewed here.

Raising Professional Standards

The IPA’s principal aim is to promote and maintain high standards of performance and professional conduct amongst those engaged in insolvency (and related) practice. We also look to encourage wider knowledge and understanding of insolvency within and outside the insolvency profession through access to our qualifications and membership, and through exposure and discussion of insolvency issues which affect the profession, its stakeholders and the general public. 

The IPA maintains a leading role in the development of professional insolvency standards. Our Insolvency Practitioners are licensed in relation to formal insolvencies conducted in England, Wales, Scotland and Northern Ireland on the basis of extensive experience and having passed exacting insolvency and related examinations. Insolvency Practitioners are required to maintain their knowledge and understanding while licensed through continuing professional development programmes. Our Insolvency Practitioners are subject to annual review/renewal of their licences and three-yearly inspections focussed on professional standards, quality and value. 

Training, Events and Continuing Professional Development

We are one of the entry bodies for the Joint Insolvency Examination (JIE), which is required for those who wish to become an Insolvency Practitioner. There are some 200 students sitting the JIE each year.

The majority of our students take our widely respected Certificate of Proficiency in Insolvency (CPI) examination. The CPI is a pathway well-travelled by students as they progress to full qualification as an Insolvency Practitioner through the Joint Insolvency Examination (JIE). 

The CPI covers general insolvency procedures, as well as corporate and personal insolvency topics. For more focused study of personal insolvency, our Certificate of Proficiency in Personal Insolvency (CPPI) is available.

Our examinations are open to anyone who wishes to take them, as part of our drive to widen access to insolvency knowledge. 

The IPA offers a wide range of events and courses which qualify as structured Continuing Professional Development (CPD). These include an Annual Conference, Personal Insolvency Conference and a series of Regional Roadshows. Other courses and events are run throughout the year and members will receive periodic email notifications.

Additionally, the IPA operates online learning, providing distance learning CPD. The IPA offers conference footage, technical training and business skills courses for insolvency professionals. 

Registered Property Receivers Scheme

We have developed and jointly administer with the Association of Property and Fixed Charge Receivers (NARA) and the Royal Chartered Institute of Surveyors (RICS) a Registered Property Receivers Scheme for those specialising in registered property receiverships which fall outside the statutory framework for which an insolvency authorisation is required.  The IPA provides a secretariat service in respect of the scheme.

Publications

We publish an annual Insolvency Practitioners’ Handbookwhich draws together the Ethics Code, SIPs and other regulatory guidance to which our IPs are expected to adhere into one convenient volume. We also produce email updates to members on developments within the profession.

Representation

The Joint Insolvency Committee (JIC), made up of the four RPBs and The Insolvency Service, is responsible for the development and agreement of profession-wide Statements of Insolvency Practice (SIPs), Code of Ethics and other guidance. The IPA plays an active part in the Committee.

The IPA also participates in a number of external stakeholder groups, such as the IVA Standing Committee.