CPD guidance for IPA members
IPA Insolvency Practitioner newsletter, February 2023
Contents
- Paul Smith, CEO
- Samantha Keen, President
- HMRC update
- Reporting mis-use of bounce back loans
- Unregulated debt advice
- Insolvency Practitioner identity fraud and scam websites
- Licences from OFSI
- SAR reporting
- Unlocking talent in the insolvency profession
- Are you abreast of the 2020 Code of Ethics update? An essential webinar on ethics in practice (CPD: 1.5h)
- 2023 Annual Conference: Venue and speakers announced – places selling fast! (CPD: 6h)
- Personal Insolvency Conference early bird booking rate now available for a limited time only! (CPD: 6h)
- Make savings on essential CPD with exclusive discounts on training from the IPA and our partners
- IPA examinations update
- Discounted meeting facilities from Office Space in Town (member login required to view)
- Save money on your airport parking with APH! (Member login required to view)
- Need new IT products? Claim exclusive IPA membership offers from Dell
- CPI training with BPP – special offer for IPA members (member login required to view)
- Join the Turn2us IPA Step Challenge!
- IPA exclusive industry update from Insolvency Insider
Members are reminded of the need to keep abreast of developments in statutory and case law, in professional practice and in the commercial environment relevant to the competent performance of insolvency administration. Members who are authorised as an Insolvency Practitioner are required to show they have undertaken the minimum level of relevant, structured CPD as part of being fit and proper to be an IP. The minimum level is 25 hours of relevant structured CPD in the 12 months before an application for, or to renew, authorisation.
The CPD should be relevant to the work that the IP will be undertaking, including compliance with the Money Laundering Regulations 2017. It may consist of attending or speaking at courses, conferences, seminars, and lectures (a more detailed list of what comprises structured CPD of can be found by referring to the CPD Guidance in the IPA’s Insolvency Practitioners’ Handbook). For 2023, due to the ongoing impact of Covid 19, the IPA has again waived the need for distance learning to account for no more than half of the minimum requirement. There are a wide variety of ways in which IPs can now undertake CPD online, without incurring the time and expense of travel. However, the IPA reminds members of the value achieved from interaction and networking with fellow professionals by attending events in person. Similarly, the IPA believes that members will be more able to consolidate their learning from CPD if it is obtained from a variety of sources throughout the year.
One point to stress is that IPs will need to supplement their minimum level of relevant structured CPD by reading professional articles and law reports. In recent monitoring inspections, we have seen IPs who believed incorrectly that such technical reading counted towards their minimum level and who have failed to undertake sufficient CPD as a result.