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Joint Insolvency Committee – JIC

The Joint Insolvency Committee (JIC) develops, improves and maintains insolvency standards from a regulatory, ethical and best practice perspective.

JIC promotes consistency across the profession. It acts as a forum for the discussion of insolvency issues and standard setting. It has responsibility for the development and revision of the Code of Ethics applicable to insolvency practitioners, Statements of Insolvency Practice and Insolvency Guidance Papers. JIC also comments on legislation.

Read the JIC’s rules here.

The committee is made up of representatives from each of the four recognised professional bodies (RPB), each supported by a staff member from the body, five lay members and representatives from the Insolvency Service and the Insolvency Service, Northern Ireland.

JIC members:

BodyStatus
Association of British InsurersLay member
British Property FederationLay member
Chartered Accountants IrelandRPB
HM Revenue and CustomsLay member
Insolvency Practitioners AssociationRPB
Chartered Institute of Credit ManagementLay member
Stepchange Debt CharityLay member
The Insolvency ServiceOversight body
The Insolvency Service, Northern IrelandOversight body
The Institute of Chartered Accountants in England & WalesRPB
The Institute of Chartered Accountants of ScotlandRPB

The representative of HM Revenue & Customs is the current chair of the JIC. Secretariat support to the committee is provided by ICAEW.

R3 and the Law Society of Scotland attend JIC as observers. Other observers may attend by arrangement.
The committee meets at least four times a year. Between meetings, the business of the committee may be progressed by sub-groups.

When the JIC reviews a Statement of Insolvency Practice a working group will be set up which will typically comprise a mix of JIC members and other specialists in the subject being discussed. Any revised Statement of Insolvency Practice produced by the working group will usually be subject to a full public consultation with comment invited from the insolvency profession and others interested in the insolvency regime.

The JIC meeting dates for 2021 are:

18 March 2021
17 June 2021
16 September 2021
14 December 2021

The IPA’s Insolvency Practitioner representative on the JIC is Simon Underwood, Rowan Duffin-Jones provides IPA Secretariat support [email protected]