Please select a page from the Report Members of the Insolvency Practices Council Chairman's Report Review of Activities during the year Personal Sector Issues Commercial Sector Issues General Issues Future Plans Progress of Recommendations 2000, 2001 Recommendations Glossary Acknowledgments

Glossary

RPBs - Recognised Professional Bodies - Professional institutions that set the ethical
and professional standards for their members. Responsible for regulation,
encouragement of proficiency of members, monitoring performance, discipline
and complaints.

IPs - Insolvency Practitioners - Individuals licensed by the RPBs to practice
insolvency and take cases.

IS - The Insolvency Service - A part of the Department of Trade and Industry which
acts as the regulator of regulators of the insolvency profession. It also grants
licenses to IPs.

JIC - Joint Insolvency Committee - Co-ordinating Committee made up of
representatives from the RPBs and the Insolvency Service to bring together a
process for implementing changes and improvements to insolvency practice
and standards, and to respond to the recommendations made by the IPC.

R3 - The Association of Business Recovery Professionals. The trade organisation for
the insolvency profession and responsible for training. Acts as a voice for the
profession and co-ordinates changes to Standards of Insolvency Practice (SIPs).

SIPs - Standards of Insolvency Practice - Detailed standards relating to the day-to-day
work of insolvency practitioners.

IVAs - Individual Voluntary Arrangements - Formal arrangements made by debtors for
payments to be made to their creditors over a period of time under the
supervision of an insolvency practitioner.

CVAs - Corporate Voluntary Arrangements - Formal arrangements made by companies
for payments to be made to their creditors over a period of time under the
supervision of an insolvency practitioner.

JIMU - Joint Insolvency Monitoring Unit - A unit created by the Insolvency Practitioners
Association and the Institute of Chartered Accountants in England and Wales to
undertake the monitoring of the members of these two RPBs.

NACAB - The National Association of Citizens Advice Bureaux - The information and
advice centre for the 700 plus individual Citizens Advice Bureaux in the UK.
CABx Citizens Advice Bureaux - Local advice centres which give free monetary advice
to members of the public.

DMCs - Debt Management Companies that give debt advice to the public, generally
charging a fee and currently not the subject of any formal regulatory process.

CAP - Christians against Poverty - a charitable non-charging debt advice organisation
based in Bradford.

CCCS - Consumer Credit Counselling Service - a charitable non-charging UK-wide debt
advice organisation with its head office in Leeds.

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