SIPs are a series of guidance notes issued to licensed insolvency practitioners with a view to maintaining standards by setting out required practice and harmonising practitioners’ approaches.
Statements of Insolvency Practice (SIPs)
Insolvency Guidance Papers (IGPs) are issued to insolvency practitioners to provide guidance on matters that may require consideration in the conduct of insolvency work or in an insolvency practitioner’s practice.
Support for insolvency practitioners
Author Allison Broad. Allison is a Chartered Accountant and Senior Manager at ICAEW. She heads up ICAEW’s insolvency monitoring team.
Access guidance to support the work of ICAEW licensed Insolvency Practitioners (IPs) and their staff in conducting insolvency compliance reviews. Available guidance includes frequently asked questions, helpsheets, forms and checklists.
ICAEW and our Restructuring & Insolvency Community have developed a suite of materials to help you promote the value of ICAEW insolvency practitioners. The guide and videos can be shared with your clients, business partners and staff. The materials provide a view of the direction of the market and offer guidance on the seven stages of business recovery and the role of insolvency and restructuring specialists.
It’s a long-standing requirement that IPs need to send their authorising body copies of the cover schedules they’ve submitted to their surety or cautioner each month, and that these need to be submitted to the authorising body no later than 20 days after the end of each month.
Resources to support insolvency practitioners in undertaking formal personal insolvency appointments under the Insolvency Act 1986 (and associated legislation), providing information about the types of personal insolvency that may assist individuals experiencing debt problems, and guidance on bankruptcy and individual voluntary arrangements.
The resources in this section support the work of ICAEW licensed insolvency practitioners and their staff who undertake formal corporate insolvency appointments under the Insolvency Act 1986 (and associated legislation). Guidance and checklists providing information on: liquidations (voluntary and compulsory), company voluntary arrangements (CVAs), administrations, moratoriums and administrative receiverships.
This business and industry guide provides a summary of information and resources available for research into the insolvency sector, including links to market research reports, statistics, legislation, trade bodies and journals.
Become an ICAEW licensed IP
This section provides all the information you need to know to apply for an ICAEW insolvency licence, including a full list of requirements and details of the fees involved.
ICAEW insolvency section
ICAEW is the largest insolvency regulator in the UK. We offer the opportunity for ICAEW Chartered Accountants and non-ICAEW members to qualify and be licensed as insolvency practitioners with us. We also offer a comprehensive programme of support for our current and future insolvency practitioners including membership to our Restructuring & Insolvency Community.