With effect from 1 January 2009, all IPA members are required to adhere to the IPA’s Ethics Code for members. The Code incorporates the joint Insolvency Code of Ethics adopted by all authorising bodies, thus ensuring that all insolvency practitioners continue to be governed by the same high standard of professional and ethical guidance.
Whilst the joint Insolvency Code has been designed to apply to all professional work relating to an insolvency appointment (including work that may lead to such an appointment), the IPA requires all its members to adhere to the Code, and in particular the spirit of the Code, with such modifications as are appropriate in all the circumstances.
Although the IPA recognises that members should respect the confidentiality of information acquired from clients and other third parties, during the process of drafting the Code the IPA became concerned that the Code’s elevation of confidentiality to a fundamental principle (in line with the model adopted by the International Federation of Accounting Bodies) might appear to take precedence over the principle of transparency, which has particular relevance for insolvency office holders. Consequently, it instructed Counsel to create a guidance note with a view to emphasising the importance of the requirement that members should take care to ensure, as far as possible, that their acts, dealings and decision-making processes are transparent and understandable.
The following links will lead you to the individual documents:
To access the IPA’s Guide to Professional Conduct and Ethics, which was in force before 1 January 2009, click here: