The Insolvency Practitioners Association (IPA) is a Recognised Professional Body (RPB) for the UK insolvency profession, responsible for licensing and regulation of its Insolvency Practitioner members under insolvency and Anti-Money Laundering (AML) legislation. It is the only such RPB that focuses solely on insolvency. The IPA is also acts as a membership organisation and offers training and qualifications for insolvency practitioners and those in insolvency-related work.
The IPA was formed in 1961 as a discussion group of accountants specialising in insolvency. It was incorporated under its present name in 1973.
The Insolvency Act 1986 brought in a statutory authorisation regime for practitioners through seven RPBs, of which the IPA was designated one. There are now four RPBs in the UK.
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 they are a fit and proper person and has passed the examination set by the Joint Insolvency Examination Board.
Membership of the IPA
The IPA has over 2,000 individual and companies registered as members. The IPA recently widened access to affiliate membership (AIPA) and introduced a new category of affiliate firm membership for those practices, businesses and organisations which are involved in insolvency related work.
Insolvency examinations
The IPA sets two annual intermediate level insolvency examinations, the Certificate of Proficiency in Insolvency (CPI) and the Certificate of Proficiency in Personal Insolvency (CPPI).
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