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Insolvency regulations and standards

Insolvency is a regulated profession and insolvency practitioners must meet certain standards. They must comply with the law, statements of insolvency practice (SIPs), the Code of Ethics and ICAEW’s insolvency regulations. We also issue guidance to assist insolvency practitioners.

Key resources

Statements of insolvency practice (SIPs)

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.

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Insolvency Regulations and Guidance Notes

The Insolvency Licensing Regulations apply to all insolvency practitioners authorised by ICAEW. Guidance is included within our Guidance Notes documents to help insolvency practitioners apply the regulations.

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Insolvency Code of Ethics

This Code is intended to help Insolvency Practitioners meet the obligations expected of them by providing professional and ethical guidance.

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Insolvency guidance papers

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.

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Joint Insolvency Committee

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

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Insolvency Consultations

Details of consultations on revisions to Statements of Insolvency Practice and the Insolvency Code of Ethics are published here.

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Following a Joint Insolvency Committee (JIC) consultation, changes were made to Statement of Insolvency Practice (SIP) 9 with effect from 1 April 2021.

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COVID-19: Changes to Insolvency Regulations and support for IPs

A number of changes to insolvency Regulations have been put in place following the coronavirus pandemic. This page details the changes and includes related resources from HMRC.

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