Insolvency compliance; SIP 1 and the Ethics Code

Insolvency practitioners are authorised and regulated by recognised professional bodies (RPBs) under S391 Insolvency Act 1986 (IA1986). The Joint Insolvency Monitoring Unit (JIMU) was established in 1994 to carry out the reviews necessary to provide information to the RPBs so that they could carry out the regulatory process. These reviews are of course now carried out by the ICAEW and the IPA, themselves regulated by the Insolvency Service.

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