AIDE MEMOIRE – CPD FOR INSOLVENCY PRACTITIONERS: 1 JANUARY 31 DECEMBER

AIDE MEMOIRE
CPD FOR INSOLVENCY PRACTITIONERS: 1 JANUARY – 31 DECEMBER
2015
Introduction
We require our insolvency licence holders to continue to develop your expertise and professional
skills. We have produced this aide memoire to help you fulfil that requirement.
There’s no requirement to complete a specific amount of structured CPD (ie, attendance on
courses). Instead, insolvency licence holders are expected to plan their own programme of
development activities to ensure they have the knowledge and expertise to fulfil their role and
responsibilities.
ICAEW members are required to provide an annual declaration of CPD compliance for each year
ending on 31 October. The declaration asks members to confirm that they have reflected on their
responsibilities, undertaken appropriate learning and development activities as necessary, and
considered the impact of those activities, on an ongoing basis.
ICAEW insolvency licence holders are also required to confirm on renewal that they have
undertaken a programme of CPD designed to address insolvency training and development needs.
Recording your CPD activity
You should consider the three key areas below and then complete your record.
Reflect
Consider your development needs and how you can meet them, and create a plan of action.
Whenever you identify a development need that has a bearing on your role, you should consider
whether you need to take action. For example:
 Expectations - What do others expect of you and what standards do you expect of
yourself?
 Changes – What are the main changes affecting you in your role?
 Responsibilities – What are your areas of responsibility?
 Environment - What are the main business environment issues for you?
 Knowledge gaps - What do you need to know about?
Act
Put your plan of action into practice. This could include:
 technical reading
 learning at work
 meetings with experts
 conferences
 courses and seminars
 online learning and webinars
 workshops with your peers
© ICAEW, June 2015
 reading magazines, newspapers and journals
 registering for updates and email alerts
Impact
Evaluate the effectiveness of what you have done.
 What can you do now that you couldn’t do before?
 Are you satisfied your actions have enabled you to meet your objectives, or do you need
to do more work in this area?
 Are there gaps, or are there emerging issues that you need to take into account for the
coming year?
Suggested areas of technical knowledge
The following are some of the key technical changes and developments between 1 January and 30
December 2015. The list is not exhaustive.
Legal
The Deduction from Wages (Limitation) Regulations 2014 (SI 2014/3322) effective from 8 January
2015;
 Employment Rights (Increase of Limits) Order 2015 (SI 2015/266) effective from 6 April
2015;
 The Construction (Design and Management) Regulations 2015 (SI 2015/51) effective from
6 April 2015;
 The Income Tax (Construction Industry Scheme) (Amendment) Regulations 2015 (SI
2015/429) effective from 6 April 2015;
 Deregulation Act 2015;
 Small Business, Enterprise and Employment Act 2015;
 The Bankruptcy and Debt Advice (Scotland) Act 2014;
 The Insolvency (Amendment) Rules 2015 (SI 2015/443) effective from 1 October 2015;
 The Insolvency (Protection of Essential Supplies) Order 2015 (SI 2015/989) effective from
1 October 2015;
 The Insolvency Practitioners (Amendment) Regulations 2015 (SI 2015/391) effective from
1 October 2015;
 The Insolvency Act 1986 (Amendment) Order 2015 (SI 2015/922) effective from 1 October
2015;
 Insolvency Proceedings (Monetary Limits) (Amendment) Order 2015 (SI 2015/26)
effective from 1 October 2015;
 The International Interests in Aircraft Equipment (Cape Town Convention) Regulations
2015 (SI 2015/912) effective form 1 November 2015;
 The Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order
2015 (SI 2015/1977) effective from 31 December 2015.
Statements of Insolvency Practice and Guidance Papers
 SIP 1 effective from 1 October 2015
 SIP 16 effective from 1 November 2015
 SIP 9 effective from 1 December 2015
© ICAEW, June 2015
Insolvency Service guidance
 Dear IP 65 – issued March 2015
 Dear IP 66 – issued May 2015
 Dear IP 67 – issued July 2015
 Dear IP 68 – issued September 2015
 Dear IP 69 – issued September 2015
 Dear IP 70 – issued December 2015
Additional reading
You can read about the impact of some of these technical changes and how they affect your work
in R3’s technical bulletins:
 Technical Bulletin 109 – March 2015
 Technical Bulletin 110 – May 2015
 Technical Bulletin 111 – August 2015
 Technical Bulletin 112 – September 2015
 Technical Bulletin 113 – December 2015
Sources of information
You can find further information on these areas on the following websites:
icaew.com/cpd
www.bis.gov.uk/insolvency
icaew.com/insolvency
www.legislation.gov.uk
icaew.com/practicehelpsheets
www.r3.org.uk
© ICAEW, June 2015