Introduction to Insolvency Program
The Introduction to Insolvency Program (IIP) is a two-day face-to-face interactive course that provides new entrants to the profession with an understanding of the fundamentals of corporate insolvency and provides a stepping-stone to further learning.
It has a strong focus on some of the practical and challenging issues that participants will encounter on the job and is an essential foundation for understanding the practice of formal insolvency.
Please note that this course provides only a limited overview of personal insolvency.
It is recommended that students have a minimum of three months insolvency experience prior to attending this course.
The course material has undergone a complete review and refresh in 2017 and has been updated for the Insolvency Law Reform Act.
Upcoming course dates
Who should attend?
What do students receive?
Sydney: 6-7 April FULL
Melbourne: 6-7 April
Perth: 8-9 May
Brisbane: 15-16 May
Adelaide: 4-5 September
If you are interested in an in-house training for your staff, please contact our Education Team.
- Describe each of the different types of formal insolvency appointments and how they interact
- Give a brief explanation on the PPSA regime
- Explain the structure of the Corporations Act and Bankruptcy Act post commencements of the Insolvency Law Reform Act
- Undertake research of straight forward matters encountered on insolvency engagements using the Corporations Act, Bankruptcy Act, ARITA Code, reference materials and the internet;
- Outline the procedures involved in completing a:
- Creditors’ Voluntary Liquidation (and compare that to a Court Liquidation)
- Voluntary Administration and Deed of Company Arrangement
- Explain the different types of recoverable transactions and be able to identify those transactions from a set of facts
- Adjudicate on the proofs of debt, explain the type of supporting documentation required for proofs of debt, rank the creditors claims in order of priority, explain the process to declare a dividend, and calculate available funds
- Explain the importance of the proper handling of creditor queries and be able to respond to a range of common creditor queries
- Give brief explanations on lodgments with ASIC using EXAD, time recording, filing systems, file notes, insolvency accounting systems, insurance and FEG, and
- Complete a Form 524 (Receipts and Payments) and a basic RATA (Note the training will cover existing forms until ASIC releases updated forms for the ILRA - information on updated forms will be provided to attendees that complete the course prior to new forms being released)
The course is suitable for all new entrants to the insolvency industry, especially those just beginning their career or entering the industry laterally.
Those most likely to benefit include graduates, cadets, accountants, solicitors, bankers, credit managers and regulators. Practice service staff may also benefit from completion of the course.
2017: $1,495* (including GST)
Morning tea, lunch and afternoon tea are provided both days.
*Includes student membership for the calendar year that the course is undertaken in.
- Overview of Insolvency
- Legislation, Research Materials, ARITA Code and an introduction to PPSA
- Voluntary Administrations & Deeds
- Proofs of Debt
- Dealing with creditors
- Administrative issues
- Completing Forms
The two day course, which is seven hours per day, earns the student 14 CLE/CPD points.
What do students receive?
Prior to the course commencing students will be provided with:
- extensive pre-course reading materials that provide an ongoing valuable reference source
- an on line quiz to assess their understanding of the pre-course reading materials; and
- ARITA’s Handbook for the current year, which contains ARITA’s Code of Professional Practice and extracts of relevant legislation. (Note ARITA's 2017 Handbook with new ILRA legislation is due for release at the end of April 2017. Students attending prior to this will be provided with a 2016 Handbook and then will be sent a 2017 Handbook when it is released)
At the course students will receive:
- numerous handouts covering the course content
- exercises to reinforce learning; and
- suggested solutions to all exercises.
All IIP courses are conducted by trainers with extensive experience in insolvency, including practitioners, former practitioners, lawyers and academics.
There is no formal assessment in the IIP. Students that successfully complete the two day course receive an electronic certificate of attendance.
Compulsory Non-Refundable Student Membership for the Calendar Year
All students who have enrolled and paid for the IIP become 'Student Members' of ARITA for the calendar year in which they undertake the course. This entitles students to full access of the resources on our website and all ARITA events at member rates. Student membership is compulsory for all students registering for the IIP. Read more about the benefits of student membership on our membership page. This membership occurs on registration and is not refundable in the event of cancellation.
IMPORTANT: Please see our Cancellation Policy and note that all payments are required three weeks prior to the course date in order to ensure students receive their course folder containing pre-course readings and the ARITA Handbook.
For further information contact our Education Team