Role of the IPA

The Insolvency Practitioners Association (IPA) is a membership body recognised for the purposes of authorising insolvency practitioners (IPs) under the Insolvency Act 1986. The IPA is responsible for:

• developing professional standards;
• creating insolvency qualifications;
• widening access to insolvency knowledge and understanding; and
• leading debate on issues such as regulation, qualifications; consumer overindebtedness, procedures and structures for reporting unprofessional, unethical, improper and unfair practices.

The IPA has approximately 1,500 individual and firm members and students and have 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.

The IPA is subject to oversight and inspection by the Insolvency Service, a government body which operates under a statutory framework and which, inter alia, administers and investigates the affairs of bankrupts, of companies and partnerships wound up by the court, and establish why they became insolvent; acts as trustee/liquidator where no private sector insolvency practitioner is appointed; acts as nominee and supervisor in fast-track individual voluntary arrangements; and authorises and regulates the insolvency profession. An overview of the Insolvency Services can be found in the Other Organisations section of this web site or by visiting the Insolvency Services website

All IPA members are required to act in accordance with its Ethics Code for Members. In addition they are also required to:

• to comply with Statements of Insolvency Practice (SIPs)
• to take account of Guidance issued by the IPA, and
• to take note of Bulletins issued by the Insolvency Service