Building the Bedrock: How the Introduction to Insolvency Program Shapes the Next Generation of Practitioners
18/03/2026
Contributors:
- Nicole Di Crescenzo, Director at NDC Advisory
- Max Sinclair, Manager at Grant Thornton Australia
Build the bedrock of your career with the Introduction to Insolvency Program. Facilitator Nicole Di Cresenzo, and graduate Max Sinclair discuss how this interactive course bridges the gap between theory and practice. By mastering technical foundations and forming invaluable networks, practitioners new to the profession gain the confidence to excel, while firms benefit from enhanced efficiency.
For many new starters in the insolvency profession, the early months can feel like a whirlwind of technical jargon, complex statutory timelines, and high-stakes creditor interactions. ARITA’s Introduction to Insolvency Program (IIP) has long served as a vital rite of passage, bridging the gap between academic theory and the coalface of practice. Long-time program facilitator Nicole Di Crescenzo, Director at NDC Advisory, and former IIP graduate Max Sinclair, Manager at Grant Thornton Australia, share their insights into why this course remains a cornerstone of professional development in the industry.
The IIP experience: Beyond black letter law
Far from a traditional lecture series, IIP is designed to be a highly interactive program built around doing, not just listening. Run over two days face-to-face or four days online, participants undertake activities like mapping out appointment types, building process lines, calculating dividends, and working through investigations findings, leaving with outputs they can reference back at their desk.
“The IIP covers the essentials of every key insolvency process in Australia, but always in context; you’re learning the big picture and the necessary detail at the same time,” says Nicole Di Crescenzo, who has facilitated the program for many years.
“In insolvency, a gap in the detail can unravel the whole picture. That’s why understanding both matters from day one.”
But the technical grounding is only half the story. What Nicole sees as the real differentiator is the emphasis on understanding why.
“The rules tell you what to do, but understanding why those actions are required, and how they connect to everything else, is what separates someone who can execute a task from someone who can think through a problem,” she says.
“That perspective is just as valuable for lawyers, creditors and other stakeholders as it is for junior accountants. They each come in with one piece of the puzzle. The IIP helps them see the whole board.”
The foundational learning and practical examples resonated deeply with former students like Max, who completed the face-to-face version of the course. He recalls the two-day program as an engaging experience that combined round-the-room discussions with group activities and whiteboard sessions. For Max, the technical areas covered – ranging from Voluntary Administration, PPSA to bankruptcy – provided a necessary breadth that allowed him to understand the foundations of various formal insolvency appointments.
One specific activity that Max still references today involved confirming the statutory time frames for voluntary administrations.
"We did an activity using a calendar to confirm the key statutory dates involved in the voluntary administration process. I remember doing a counting exercise to work out the convening period as well as key dates for the Administrators to provide notices, hold creditors’ meetings and issue their report... I still use the same counting method today," he says.
This blend of foundational, ‘old school’ techniques with modern theory ensures that the learning the learning is tactile, deliberate, and built to last.
Driving confidence and firm efficiency
The shift is felt immediately back in the office - program graduates return with a boost in professional confidence and perspective, not just knowledge. And for the firms that send them, that distinction matters.
“Juniors come back with real context. They understand the industry, not just the task in front of them,” Nicole says. “That means less explaining, better quality work, and a team that understands why getting it right matters.”
Max confirms this shift in perspective, noting that having IIP under his belt changed how he was perceived within his team.
"I did feel like once I'd come out of the course and I had all of the ARITA materials and resources, people certainly do view you with a bit more gravitas. They had confidence in your ability knowing you've had the opportunity to learn about each of the key insolvency processes and learn those foundational skills," he says.
Max recounts that this increased authority led to him being pulled into more complex conversations with key stakeholders and being given more responsibility sooner, and now a manager himself, he sees the benefit from the other side of the desk.
"I certainly feel more confident as a manager and leader to include new graduates in the strategy and key conversations on insolvency matters, but especially those who have come through that course," he says.
"It gives me confidence that they understand the context of the engagement, and they're able to grapple with the terminologies, processes and key risk areas as a result of doing that course".
Laying the foundation for a career pathway
Beyond the immediate technical gains, IIP serves as a powerful catalyst for career retention and long-term direction. For many participants, it is the moment the profession clicks; insolvency stops feeling like a job and starts feeling like a career option. Max found that the program provided a focussed day-to-day level of engagement he didn't find in other professional qualifications, such as the Chartered Accountant course.
"Coming out of the ARITA Intro to Insolvency course, I certainly felt like I had a good grip on the insolvency industry and the type of work and the range of matters I could be involved in," he reflects.
"It gave me confidence that I was in the right space, and reinforced my curiosity and desire to work in the industry... it definitely helped set the pathway".
For many, this pathway often leads directly to further specialisation. Max for example has recently enrolled in the Advanced Certification units of the ARITA 11319NAT Graduate Diploma of Restructuring, Insolvency and Turnaround, viewing IIP as the essential first in a "structured pathway to keep progressing, reinforcing foundations and learning".
The longevity of the program speaks to its essential value, with Nicole noting that many of today’s industry partners completed early iterations of the program over 20 years ago, while the program also provides other unexpected opportunities and benefits, as Max highlights in his advocacy for the in-person version of the course.
"When you're in a physical room with other like-minded young professionals, it’s a fantastic opportunity to network and get involved in the discussion," he says.
The connections made during these two days – often with peers from both accounting and legal backgrounds – frequently evolve into professional networks that can last for decades.
As the insolvency landscape continues to change, programs like IIP remain essential for maintaining high standards of integrity and technical excellence across the profession. For senior practitioners, the case is straightforward: an early career practitioner who has been through IIP needs less hand-holding, asks better questions, and understands why the work matters. For emerging professionals, it is provides a foundation of knowledge, perspective, and professional relationships that the rest of a career can be built on.
More information on IIP, including upcoming sessions.