Insolvency Practitioners Association
- Insolvency Practitioners Association
The Insolvency Practitioners Association (IPA) is a professional body whose purpose is to inform and regulate insolvency practitioners (IPs) within the UK and Ireland. There is a similar organization in Australia.
History
Formed in 1961 as a discussion group of accountants specialising in insolvency, it became incorporated under its current name in 1973. It became a Recognised Professional Body under the UK Insolvency Act 1986, empowered to grant and renew insolvency licences. It is the only such body whose membership is composed solely of IPs. Its members act as trustees in bankruptcy, nominees and supervisors of individual voluntary arrangements, liquidators, administrators and administrative receivers of companies.
Objectives
The IPA's main objectives are to encourage recruitment of IPs; to promote their training and education; to maintain and improve standards of performance and conduct, and to regulate and monitor its members' practices, and, where appropriate, discipline them.
Every individual wishing to qualify for an insolvency licence needs to satisfy the IPA that he is a fit and proper person have passed the examination set by the Joint Insolvency Examination Board.
External links
* [http://www.insolvency-practitioners.org.uk/ Insolvency Practitioners Association website]
* [http://www.ipaa.com.au/home.asp IPAA (Australia)]
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