CPD guidance for IPA members

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.