Please select a page from the Report Members of the Insolvency Practices Council Chairman's Report Summary of Activities in 2003 A Review of the Key Issues in 2003 A Review of General Activities Recommendations 2003 Glossary Acknowledgments

Summary of Activities in 2003

The following is a summary of the main activities of the Insolvency Practices Council during 2003.

• Insolvency Regulation is the key to protecting the public interest and this subject has featured on a number of occasions during the year in meetings with the profession.
• The IPC held a series of meetings with three Recognised Professional Bodies (RPBs) to examine at first hand their complaints handling procedures and policies.
• Individual Voluntary Arrangements (IVAs) featured frequently on the agenda and, as a result, members of the IPC met various bodies throughout the year to find ways of addressing our concerns at the performance in this area.
• The number of meetings with the Joint Insolvency Committee (JIC) has increased in 2003 with improved communication on current issues.
• In response to a request from the JIC, support was given to the request for a review of the current arrangements for insolvency practitioner bonding.
• The IPC was involved in the review by the Joint Insolvency Examination Board into its current activities and its future plans.
• After discussions with a Member of the Scottish Parliament (MSP) the IPC investigated a conflict of interest issue in Scotland and subsequently raised it with the Law Society of Scotland.
• Contact is being maintained with the Auditing Practices Board, the Financial Reporting Council and the Professional Oversight Board for Accountancy to exchange ideas on ethical issues.
• Outside the IPC remit but closely aligned to the profession is the question of unregulated Debt Management Companies and Debt Advisers. The Council met representatives of some of these organisations in 2003.
• Regular contact is maintained with a number of consumer organisations, i.e. Citizens Advice, The Institute of Credit Management, the National Consumer Council and the Federation of Small Businesses.
• The IPC has been able to talk to a large number of IPs throughout the country through attending R3 regional meetings.
• The web site is becoming better known and there are an increasing number of contacts and complaints from the public at large. This provides useful evidence for the IPC in its work.

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