What is an insolvency practitioner?
Generally, an organisation or individual becomes insolvent when they are unable to meet their financial obligations. In this situation, insolvency practitioners provide an independent assessment of their financial position, and guide them through the insolvency procedure. They also provide impartial advice on alternatives to insolvency, such as administration and Company Voluntary Arrangements (CVAs).
Although this is a demanding branch of accountancy, insolvency practitioner is also one of the most rewarding. As an expert in business and finance, your timely advice could rescue a failing organisation.
How do I achieve it?
While specific insolvency laws will vary from country to country, the general principles of business rescue and restructuring apply internationally. With that in mind, students will find the following ACCA Strategic Professional Options exams extremely relevant:
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
Insolvency practitioners must be licensed, so you will also need to choose a route to achieving this.
