Headlines
Disciplinary case study: insolvency practitioner fees
- 13 May 2024
Over the past year, ICAEW’s Conduct Department has seen an increase in the number of complaints which relate to the reasonableness of fees charged by insolvency practitioners (IPs). We look at the outcome of a recent disciplinary process which highlights the key issues with levels of remuneration drawn. We also hear from our Quality Assurance Department on what reviewers look at when considering IP fees during monitoring visits.
Tips to improve quality assurance monitoring visits
- 21 May 2024
Since returning to offices post-COVID, some quality assurance monitoring visits for insolvency practitioners (IPs) are taking longer than planned. Please ensure you are helping to ensure the visit goes as quickly and efficiently as possible by ensuring key staff are available, files are accessible and that you respond promptly to our queries.
Monitoring visit changes for insolvency practitioners
- 21 May 2024
Over the past 12 months our Quality Assurance Department’s insolvency team has been reviewing its approach to monitoring visits. The resulting changes may mean your next review date is brought forward, or that you have moved from a three to a six-year cycle. We recap the recent changes insolvency practitioners (IPs) should be aware of.
How often should I reconcile my estate accounts?
- 21 May 2024
ICAEW’s insolvency team recommends that the frequency of estate account reconciliations should be based on a risk-based approach. This may result in more or less frequency than our Clients’ Money Regulations stipulate. We explain what that means in practice and the importance of documenting the reasons for your decision of how often to reconcile.
Debt Relief Order changes
- 21 May 2024
Debt Relief Orders (DROs) have undergone some changes recently to provide more support for people struggling with debt. Here’s what insolvency practitioners (IPs) need to know.
Insolvency round-up 2023: hot topics and learning points
- 06 Mar 2024
ICAEW's Restructuring and Insolvency Community roadshows cover key issues facing insolvency practitioners (IPs). In the final webinar of the 2023 series, our Quality Assurance Department's insolvency team flagged some hot topics for IPs and discussed the most important findings from monitoring reviews.
ICAEW Insolvency Monitoring Report 2023
- 12 Mar 2024
- PDF (94kb)
We completed more than 150 insolvency reviews in 2023. Access the infographic to find out the results and what actions were taken.
Insolvency compliance update: is your time recording system accurate?
- 06 Mar 2024
A recent Restructuring and Insolvency Roadshow focused on fees estimates and time recording. In our second article exploring key issues around these hot topics, Michelle Butler, partner at The Compliance Alliance, explains why your systems for time recording are so important.
Insolvency compliance update: estimating fees
- 11 Jan 2024
Fees are always a hot topic in the insolvency sector, and most insolvency practitioners (IPs) have questions about how to produce a fees estimate that is accurate, transparent and compliant. During a recent Restructuring and Insolvency Roadshow, Michelle Butler, partner at The Compliance Alliance, offered some useful reminders and tips.
Webinar recording: Statement of affairs and deficiency accounts
- 23 May 2024
Listen again to Gareth Limb, representing Compliance On Call, about the foundational aspects of crafting statements of affairs and deficiency accounts, sharing valuable insights and practical tips
New PII Regulations from 1 September
- 12 Mar 2024
A review of ICAEW’s professional indemnity insurance requirements has taken place which included a public consultation that closed in December 2023. Wide-ranging proposals were presented and some of these are now being taken forward. Changes will come into effect from 1 September 2024.
Join a regulatory or conduct committee
- 23 May 2024
Learn what expertise we need and the remuneration rates for accountant and lay members.
Restructuring & Insolvency Community events
Restructuring and Insolvency Conference
- 23 May 2024
Our next online R&I Conference is 25-26 June. Register to attend this year's conference and hear what our experts have to say about a range of practical and technical issues. Attending could contribute up to 6 hours of verifiable CPD.
Save the date for our 2024 Restructuring & Insolvency Community roadshows
- 23 May 2024
The full roadshow programme includes legal and compliance updates, a session presented by our Quality Assurance Department’s insolvency senior manager and manager, and a fourth topical session which will be determined nearer the time.
HMRC bulletins and updates
Process for directors’ loan accounts written off in corporate insolvency procedures – update
- 25 Apr 2024
- PDF (120kb)
Recording tax and National Insurance for former employees on an insolvent entity
- 17 Jan 2024
- PDF (125kb)
Tax returns and payments in administrations
- 17 Jan 2024
- PDF (116kb)
VAT deregistration mailbox changes
- 10 Jan 2024
- PDF (62kb)
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Further resources
Insolvency news
Insolvency News is an update produced by ICAEW's Professional Standards Department. Here you’ll find the latest regulatory information and resources.
View the articlesSupport for Insolvency Practitioners
Practical guidance for insolvency practitioners, including the latest information on SIPs, helpsheets, and sector news, as well as support on how to market your practice.
Find out moreRestructuring & Insolvency Community
Joining the Restructuring & Insolvency Community will give you support that really pays off. Led by a committee of dedicated specialists, we provide guidance, support and representation to insolvency practitioners. Best of all, it’s free to all those IPs licensed by ICAEW.
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