Welcome to Regulation – what to expect during a routine monitoring visit by the IPA

13 February 2026

When should I expect my monitoring visit?

The IPA, like all modern regulators, operates a risk-based approach to regulate Insolvency Practitioners (IPs). This ensures that our resource is targeted where it is most needed to ensure compliance and reduce the regulatory burden on compliant IPs. The inspection cycle stretches over six years. As such, lower-risk IPs may only receive one formal inspection in a six-year period while those deemed higher risk will be monitored more regularly.

Is there flexibility in when my inspection can be undertaken?

A member of the IPA’s inspection team will contact you to arrange your inspection. The IPA endeavours to provide as much notice as possible when scheduling visits and will, wherever possible, work around IPs’ existing holiday or other commitments. Your inspection will not generally be postponed unless there are exceptional circumstances. 

If you work in a firm with multiple offices, we will endeavour to undertake a visit of all IPA-regulated IPs at the same time to minimise disruption. However, whilst we take all reasonable steps to coordinate visits, this may not always be possible, as each IP’s visit cycle is calculated on their own individual risk, not on that of their office or firm. 

If there is an IPA-regulated IP in your office who has not been selected for a visit, this can be raised with the inspector, and we will try to accommodate a multi-IP visit if possible.

How will the visit be conducted?

Step 1: arranging a visit

A member of the IPA’s inspection team will contact you to arrange a date for the visit and to confirm whether your visit will be conducted remotely, in person or on a hybrid approach (e.g. one day on site and the remainder off site).

As part of the visit preparation, you will be required to complete a pre-visit questionnaire and to provide copies of certain documents (e.g. case list, copy of your PII cover).  You will also be sent our list of issues which the inspection will focus on. If the inspection is of multiple IPs in the office, you can submit a combined response.

If the visit will be conducted in person, you will be asked to confirm that you have suitable facilities to support the visit (i.e. a private space for the inspector to work and access to wi-fi). Any potential issues with an onsite inspection should be flagged immediately to the inspector.

Step 2: preparation for the visit

1. We appreciate that you may work virtually and need IT assistance in sharing electronic files, or that all files may not be on site. As such, the Inspector will provide you with a list of cases selected for the visit around 2-3 weeks in advance. This will allow you time to review those cases and advise the Inspector of any identified issues and, if applicable, any subsequent process changes that you may have implemented to address repeat occurrence.
2. Please ensure that all selected case files are available for review on the start date for the visit (if a remote inspection is being undertaken, we will ask for access to your electronic files at least two days before the visit to ensure there are no access issues).
3. All key documents should be printed and/or electronically filed in the appropriate section of the file.
4. Please ensure that you and key staff are available for the duration of the IPA’s visit. Those staff who are key to a case will vary and will be determined by you but will include case managers and cashiers.

Step 3: The visit

The visit will begin with an opening meeting. The Inspector will cover any queries which have arisen in relation to the pre-visit questionnaire, and which require clarification. The way the inspection visit will proceed will be discussed. If there are any matters which you wish to bring to the attention of the Inspector in relation to the visit or the case file, then the opening meeting is a good opportunity, although the Inspector will remain available to discuss all such matters as the visit progresses.

The selected cases will be reviewed. As the inspector reviews each file, they are likely to compile a list of queries. The case queries may consist of matters for clarification, details of documents the Inspector has been unable to find on the case file, or any identified potential breaches. You should respond to these queries in a timely manner, ideally within 24 hours. If there are any outstanding queries at the conclusion of the inspection, any further IP responses must be provided by no later than three days after conclusion (unless a longer date has been agreed with the Inspector). Any undue delays in responding to the case queries can significantly delay the progression of your visit.

At the end of the visit, the Inspector will conduct a closing meeting with you and discuss their preliminary findings.

Visits are not identical. If, for example, a closing meeting cannot be held, there may be subsequent delays in the issue of your report, given that IPA Inspectors have a full calendar of pre-booked visits and other inspections.

What happens after the visit has been concluded?

Unless there are exceptional circumstances, you will receive a copy of your inspection report within 30 working days of your closing meeting.  We will ensure that no major issues identified in the report have not already been brought to your attention either during the visit, at the closing meeting or during any subsequent discussions which may be necessary. You then have 15 working days to submit a written response to the Inspector’s findings, if you wish.

The Inspector’s report, together with your comments, will be placed before the IPA’s Regulation and Conduct Committee at their next meeting. Meetings are generally held monthly (except for August). It is this Committee which determines the outcome of the inspection visit, upon receipt of the inspection report, and is ultimately responsible for deciding whether the report is satisfactory or, if not, what, if any, regulatory or disciplinary action should be taken.

Once the Chair of the Committee has approved the minutes of the relevant meeting, you will be notified of the outcome within 15 business days. Where the Committee has no comments and concludes that the inspection can be closed immediately, the outcome may be issued to you prior to the minutes being approved by the Committee Chair. As such, depending upon the timing of your visit, you should expect to receive confirmation of the outcome of your visit within four months of your visit.