The first step to becoming a licensed Insolvency Practitioner (IP) is to pass the Joint Insolvency Examination Board (JIEB) exams. Once achieved, an application can be made to an ICAEW insolvency licence holder. Most IPs are accountants or insolvency specialists working in firms of accountants.

An Insolvency Practitioner, is a licensed professional who carries out a wide range of duties offering services to businesses struggling financially and looking to rescue or close their limited company. In the first instance, an IP might be asked to provide company directors with professional advice in pre-insolvency situations to try and keep a business on track. Alternatively, an IP could be appointed to take complete control of the company before closing it down. Within a company that has gone into insolvency, an IP could be appointed as one of the following roles:

  • Provisional liquidator
  • Liquidator
  • Administrator
  • Administrative Receiver
  • Supervisor of a CVA (Company Voluntary Arrangement)
  • Advisor to the board of company directors to guide them through the process of insolvency

In the case of shutting a company down it will be the responsibility of the Insolvency Practitioner to:

  • Sell company assets to repay creditors;
  • Collect money owing to the company from debtors;
  • Agree creditors’ claims;
  • Distribute the money collected after the costs of insolvency have been paid.


With approximately 3 years’ experience as an Insolvency Administrator, the next step on the ladder is Senior Insolvency Administrator with some firms also incorporating Restructuring into the mix. A similar role title would be Business Restructuring Executive and work would be a varied caseload of corporate insolvency and restructuring appointments, generally comprising of Administrations, Company Voluntary Arrangements and Liquidations, together with informal advisory with most cases being handled from initial client contact to closure.

Reporting and working directly with senior colleagues, the role could entail the following duties:

  • Responsibility for smaller projects or distinct elements of larger projects across all stages
  • Preparing statutory and technical compliance documents
  • Dealing with correspondence effectively and efficiently
  • Liaising with other relevant professional advisers and other stakeholders
  • Attending meetings with a range of stakeholders
  • Reviewing, compiling and analysing company information

Many firms actively encourage career development and study towards a professional qualification, this may be an accountancy qualification (ACCA or ACA) and/or insolvency related (CPI) or (JIEB) qualification.


This level can require candidates to have an accountancy qualification (ACCA or ACA) or have an insolvency qualification (CPI or JIEB) or in the process of qualifying. As Insolvency & Restructuring Assistant Manager, responsibilities will consist of managing case delivery, including pre-appointment, case progression and closure, as well as ensuring all aspects of casework are completed on time, often working to tight deadlines. Attending interviews with directors, bankrupts and other relevant parties is an important part of the role and so good interpersonal skills are key.


As an experienced case handler, working collaboratively with directors and employees, and liaising with solicitors is a central component to the role, as is attending meetings with creditors and stakeholders. Managerial know-how at this level requires confident individuals who are at ease acting as a point of reference for junior staff.



This level often needs individuals to be JIEB qualified or have an accountancy qualification, ACA or ACCA, or have in-depth knowledge/experience of insolvency. The ability to run an Insolvency Department might additionally require the following:

  • Formulating and agreeing strategies for the conduct of insolvency cases with the Insolvency Partners and implementing these within the department.
  • Managing cases to ensure that all compliance matters are adhered to.
  • Bringing to the attention of the Partners any matters which might adversely impact upon the agreed case strategy.
  • Maintaining strong relationships with clients, creditors and other business contacts in order to progress cases.
  • Attending meetings when the Insolvency Practitioner is not available.
  • Assisting the Insolvency Partners in the allocation of work within the department, matching the skills of individual staff and their training needs to the assignments
  • Ensuring the maintenance of high technical standards and statutory compliance within the department and the implementation of new procedures as required.


The role of Insolvency Administrator suits outgoing, confident individuals looking for a client facing role. Vital requirements for the role are good organisation skills, ability to project manage, prioritise workloads and adhere to deadlines. Suitable candidates should also have good numerical skills as well as excellent verbal and written communication skills.

Strong academics are preferred and many firms actively encourage career development and study towards a professional / accountancy qualification (ACCA or ACA) and/or insolvency related (CPI) or (JIEB) qualification.


  • Involvement in initial meetings to establish a view of case strategies
  • Preparing initial documents following internal procedures, including IPS case set up
  • Identifying/obtaining information from directors/company officers, preparing pre-appointment bribery, ethical and money laundering checklists for office holder
  • Analysing and discussing information obtained from agents/legal advisers/accountants with manager, director and partners
  • Ensuring statutory compliance including reporting and advertising requirements


  • Statutory compliance, notifications and reporting
  • Agreeing strategy with office holder and manager
  • Managing case to maximise profitability and minimising potential write-offs
  • Instructing agents, legal advisers, accountants where appropriate and liaising with such individuals
  • Ensuring the administration of case is conducted within appropriate budget/timescales
  • Working with autonomy on cases but seeking guidance from more senior team members when needed
  • Identifying areas for potential further detailed investigations, not only in respect of statutory reporting but also to identify potential recovery actions
  • Agreeing claims for all classes of creditors
  • Paying dividends/distributions
  • Assisting senior team members when effecting redundancies, liaising with employment agents, advising employees, calculation and preparation of employee entitlements, agreeing claims
  • Assisting in the reviewing of confidentiality agreements, monitoring timely circulation of information to interested parties
  • Assisting in reviewing sale agreements and negotiations outlined sale agreements, liaising with solicitors