Introduction to Insolvency Program (IIP)
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.
The IIP has a strong focus on the key practical issues you will encounter on the job and is an essential foundation for understanding the practice of formal corporate insolvency.
Who should attend
The course is aimed at new entrants to the insolvency profession, who are either just beginning their career or entering the profession from a different vocation.
There are no prerequisites for the Introduction to Insolvency Program. However, we recommend you have three months experience prior to attending this course.
- 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 Corporate Act and Bankruptcy Act post commencement 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 5602 (Receipts and Payments) and a basic ROCAP (Report on Company Activities and Property).
- 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
This course provides only a limited overview of personal insolvency.
There is no formal assessment in the IIP. Upon successfully completion of the two-day course you will receive an electronic certificate of attendance.
All IIP courses are conducted by trainers with extensive experience in insolvency, including practitioners, former practitioners, lawyers and academics.
2019: $1,402.50 (including GST)
You must be an ARITA Student to enrol for this course. Student subscription is not transferable and is not refundable in the event of cancellation. Read more about the benefits of Student subscription.
Morning tea, lunch and afternoon tea are provided both days.
This is a two-day course, with seven hours commitment in each day, plus pre-course reading materials which need to be read prior to the commencement of the course.
14 CPD hours
What will you receive?
Prior to the course commencing you will be provided with:
- Pre-course reading materials that provide an ongoing valuable reference source.
- An online quiz to assess your 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.
At the course you will receive:
- Handouts covering the course content.
- Exercises to reinforce learning; and
- Suggested solutions to all exercises.
ARITA offers its members the opportunity to hold in-house courses solely for their staff.
Please see our enrolment & cancellation policy. For further information contact our education team.