Joint Insolvency Exam: 2016 and future plans
Key information for anyone thinking about sitting the Joint Insolvency Exam in 2016. Find out how the exam will be amended in 2016.
The following statement has been issued by the Joint Insolvency Examination Board:
Following detailed discussions with the Insolvency Service (IS) and the Recognised Professional Bodies (RPBs) who may grant the new partial authorisation of Insolvency Practitioners (introduced in England, Wales and Scotland by the new section 390A of the Insolvency Act 1986 and in Northern Ireland by the new article 349A of the Insolvency (Northern Ireland) Order 1989), the Joint Insolvency Examination Board (JIEB) has agreed that the exam diet in 2016 will retain the same format as recent years with one paper examining Personal Insolvency, one examining Liquidations and one examining Administrations, Company Voluntary Arrangements and Receiverships.
The JIEB is conscious that the administration of either a personal insolvency or a corporate insolvency requires an awareness and understanding of the ethical environment in which any appointment takes place and of all forms of formal and conformal insolvency procedures.
The syllabus specifically requires (and will continue to require) attention to the ethical position of an appointment-taker. In addition, in 2016 candidates sitting any of the three papers should be prepared to answer questions or to make points about non-formal or formal insolvency practice that is outside the usual subject matters of the particular paper being attempted.
When doing this, candidates will not be required to demonstrate detailed knowledge of that practice but will be required to demonstrate a general appreciation of other types of non-formal and formal insolvency practice, the aims of such practice and the principal steps that need to be taken to initiate such practice.
The IS has agreed to organise further meetings with the RPBs and JIEB in 2016 to discuss the future structure of the exams for 2017 onwards with a view to ensuring that these remain the robust test of technical and practical knowledge that they have been since their inception almost 30 years ago.
JIEB has modified and developed the exams set over this period and will continue to do so as the needs of the profession develop and welcomes the opportunity to discuss the requirements of the RPBs in this respect.”