Charles Turner, newly-elected president of the Insolvency Practitioners Association, explains his plans to make the IPA a more progressive support system for the profession.
What do you hope to achieve during your tenure as president?
I am keen to build on the strong heritage of the Insolvency Practitioners Association (IPA) and help it to evolve into a more overtly progressive, modern members’ organisation, communicating effectively through a new website and social media as well via more traditional methods. I am delighted that we have been able to launch our new website which has a more modern business feel to it. Check it out at www.insolvency-practitioners.org.uk
I want to broaden the IPA’s appeal through both regulatory and members’ services offerings and we will have new roles and initiatives, which we look forward to profiling in due course.
What can your organisation do to help with the challenges facing the profession in the coming year?
The insolvency profession has its critics but sometimes the criticism is misdirected. My view is that the profession has a lot to be proud of and is often slow to promote the good work it does.
Some of the criticism levelled at the industry actually relates to the unregulated sector, ambulance chasers and the like, who often act in the interests of directors rather than their companies. Some insolvency practitioners ally themselves to this unregulated sector and must exercise caution to avoid any risk by association of bringing the reputation of the profession into disrepute. I have no doubt though that the vast majority of IPs are professional, straightforward and honest in their business dealings. We have a strong code of ethics which underpins the integrity of the profession – something we need to cherish.
The IPA must promote the interests of the members it serves, particularly at a time when there are more challenges at a political level, whether that’s on fees or the way assignments are dealt with. This involves providing clear and succinct explanations, but also being robust in defending the profession and the value we add to UK plc.
How does the IPA differ from other associations in the sector?
The IPA is the only specialist regulator for the insolvency profession, delivering regulation in a supportive and constructive manner.
As well as the services to our IP members, we provide regulatory and/or secretarial services to the Debt Resolution Forum, Royal Institution of Chartered Surveyors, Solicitors Regulation Authority and Insolvency Lawyers’ Association.
The IPA is also a members’ services organisation providing a wide range of services including:
- Continuing professional education via courses such as the CPI+ as well as for new office holders
- Lectures and events such as the popular annual personal insolvency conference which will be held this year at Old Trafford, Manchester on the 28 November
- Professional insolvency exams. Both the CPI and the CPPI are designed for individuals who are working in or have an interest in insolvency, whether or not intending to become licensed insolvency practitioners. They are not simply multiple choice format, they also test the ability of candidates to answer longer form and computational style questions. Both exams are ideal preparation for those wishing to take the JIE exam, as well as worthy and widely-recognised qualifications in their own right.
About Charles Turner
Turner has been a partner with FRP Advisory since 2010, and previously spent more than 20 years with PwC, gaining a reputation in the personal insolvency sector but also undertaking a range of corporate assignments including liquidator of an Enron company. He works in the mid-market and is regularly called upon to advise professional practices, having led both restructuring and insolvency assignments, notably for firms in the legal profession.
He has been a long time member and supporter of the IPA: as chief examiner he steered its exam and training agenda. Turner has been active in representing the association for many years, including leading the Personal Insolvency Committee and serving on the Investigation Committee.