Gad Kohenov Apr 15, 2008:

From Babylon:

Insolvency practitioner
In the United Kingdom an Insolvency Practitioner (usually abbreviated to IP) is a person qualified to act in connection with formal insolvency cases and to give advice on the subject.
Quite often IPs have an accountancy background. A few active practitioners are lawyers, but it is not necessary to be qualified as either, as since 1986 there is a direct entry route to the profession.

Insolvency is a regulated profession under the Insolvency Act 1986 and anyone who wishes to practice as an IP needs to pass " Joint Insolvency Examination Board" ( JIEB) with have relevant experience in Insolvency field to be allowed to practice as an Insolvency Practitioner . Such licences can be issued by any of the following recognised professional bodies:

Insolvency Practitioners Association
Institute of Chartered Accountants in England & Wales
Institute of Chartered Accountants in Ireland
Institute of Chartered Accountants in Scotland
The Law Society
The Law Society of Northern Ireland
The Law Society of Scotland
Association of Chartered Certified Accountants

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