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Represent ICAEW on the Joint Insolvency Committee (JIC)

Author: ICAEW

Published: 22 Jun 2023

We are looking for an ICAEW licensed insolvency practitioner, who must also be an ICAEW member, to be our new representative on the Joint Insolvency Committee (JIC).
JIC is the standard setting body for the insolvency profession and is responsible for developing the Insolvency Code of Ethics, Statements of Insolvency Practice and Insolvency Guidance Papers.

The members of JIC are the recognised professional bodies (an insolvency practitioner supported by a staff member from the RPB), lay members, and the Insolvency Service and the Insolvency Service, Northern Ireland as oversight bodies.

The insolvency practitioner members of the committee use their technical and practical knowledge to ensure that the standards being developed are workable, and to explain to the lay members why something will or won’t work.

As ICAEW’s representative on JIC you’ll need to have an interest in regulation and standard setting, not be afraid of a robust debate, but also to be pragmatic when needed. You’ll also need to support ICAEW’s role as a regulator and focus on the public interest. View the detailed role profile here.

Usually committee appointments are for a three year term with the potential to renew for a further three years. But as everyone connected with insolvency knows, one of the recommendations of the Government’s consultation on the future of insolvency regulation was the abolition of the JIC with government taking on the role of standard setting. So while we wait for the outcome of that consultation the future of the JIC is uncertain. For now, it’s business as usual for the JIC, but we can’t be sure how long the term might be for ICAEW’s new representative on the committee.

ICAEW’s current JIC representative will be stepping down from the committee at the end of September 2023. The new representative would be appointed effective from 1 October 2023 and would attend their first JIC meeting on 14 December 2023. The 2024 meeting dates for JIC have yet to be fixed but you should expect to spend four half days attending JIC meetings, plus attendance at four meetings of ICAEW’s Insolvency Committee. There’s also the possibility that you’ll be asked to join one of the JIC’s working groups.

To find out more about the role or to express an interest please contact Tracy Stanhope Tracy is the ICAEW staff member who supports ICAEW’s participation in JIC

Read more information about the JIC.