Insolvency Qualification Training Programmes
Insolvency Practitioners (IPs) deal with individuals and businesses that are experiencing financial difficulties. They administer the assets and funds of the insolvent estates, which can amount to significant sums, and frequently require to effect redundancies. Insolvency is therefore a highly regulated area of practice and IPs must complete rigorous training in many aspects of law and practice. They must also keep up to date with developments in insolvency.
The Insolvency Act 1986 introduced provisions which require anyone who wishes to accept insolvency appointments to obtain a licence to do so having passed the appropriate examinations. A Joint Insolvency Examination Board (JIEB) was set up to administer the Joint Insolvency Examinations (JIE). (Further information can be accessed on the Joint Insolvency Exams website). The Act excludes certain individuals from acting as insolvency practitioners.
Insolvency licences are issued by Recognised Professional Bodies (RPBs), and currently in Northern Ireland by the Insolvency Service. The Institute of Chartered Accountants of Scotland (ICAS) is an RPB. Special provisions apply to nationals of other EEC states, and Switzerland, if they hold an insolvency qualification from their country.
The Joint Insolvency Examination Board (JIEB) examinations are a set of professional exams for those who want to become a licensed insolvency practitioner.
Training courses to prepare for sitting the JIEB exam are provided by third party training providers, which include BPP Professional Development (England and Wales JIEB papers) and Insolvency Support Services (Scotland JIEB papers). For more information on these training programmes, please visit our JIEB Training page for further information.