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An Insolvency Practitioner (usually
abbreviated to IP) is a person
specialising in formal insolvency cases. More
often than not, such people have an accountancy
background. A few active practitioners are
lawyers, but it is not necessary to be qualified
as either, with a direct entry route to the
profession. Insolvency is a regulated
profession under the Insolvency Act 1986 and
anyone who wishes to practice as an IP needs to
hold an Insolvency Licence. Such licences can be
issued by any of the following recognised
professional bodies:
- Insolvency Practitioners Association
- Institute of Chartered Accountants in
England & Wales
- Institute of Chartered Accountants in
Ireland
- Institute of Chartered Accountants in
Scotland
- The Law Society
- The Law Society of Northern Ireland
- The Law Society of Scotland
- Association of Chartered Certified
Accountants
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