The Society of Practitioners of Insolvency today voted overwhelmingly to back president Alan Bloom's calls to react to the growth in informal work and change the constitution of the representative body.
The most immediate change will be that the new name of the body will be the Association of Business Recovery Professionals, which was voted through by 78% of members.
Other measures will seek to allow a wider membership to be drawn from legal and banking sources as well as from those familiar with rescue procedures in a bid to extend the body beyond licence holders.
Although only licensed insolvency practitioners will be able to practice formal procedures, the new members will have to abide by a strict code of conduct with the aim of building up the professionalism among recovery advisors.
‘This is a real change and is definitely not just a question of presentation,’ said Bloom.
He said he hoped members from non-insolvency backgrounds would be required to pass an exam of a similar standard to the Joint Insolvency Examination currently required for an insolvency licence.
But it is also expectated that the name change will bring benefits to members by encouraging directors to seek advice at an earlier stage once the perceived stigma of the word ‘insolvency’ is removed. Greeting card manufacturer hopes for a happy return as receivers seek buyer
The numbers you crunch tell a story. Your expertis...
24yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article