Over the years, QAD has provided its IPs with access to various corporate and personal insolvency helpsheets, for use when conducting compliance reviews. They're not an exhaustive statement of the law or best practice but they give staff with insolvency experience the key areas to consider when conducting a compliance review.
We update these as regulatory requirements change, and so IPs should make sure that they use the most recent versions and the version applicable to the date of appointment.
The latest version is a checklist available that IPs can use for work done on or after 6 April 2017 on all England and Wales case types. As with all our checklists and helpsheets, ICAEW doesn’t give any guarantee or warranty regarding its accuracy. None of the helpsheets available should be treated as a substitute or replacement for the user’s own knowledge or legal advice.
We have recently updated the checklist to amend previous prompts that have since been clarified by case law or by the Insolvency Service, and have also added prompts, including but not limited to some relating to GDPR.
The personal and corporate case helpsheets may be found at http://www.icaew.com/en/technical/insolvency/support-for-insolvency-practitioners/personal-insolvency-casework and at http://www.icaew.com/en/technical/insolvency/support-for-insolvency-practitioners/corporate-insolvency-casework
You will notice that the 2016 rules checklist is a single excel spreadsheet, designed for use regardless of case type. The change in format to excel has allowed greater functionality that you may find easier to use.
The drop downs allow prompts to be quickly answered and the RAG grading gives a visible indication of areas that may need addressing. Some tabs may not be applicable, but due to links between them, we don’t recommend deleting any of them. We’d suggest you colour code the tab or re-name it to show if it isn’t applicable.
We’ve also grouped some of the requirements. If you’re satisfied that all of the grouped prompts have been correctly dealt with, rather than answer each individually, you may ‘hide’ the grouped items and only answer the introductory prompt.
Since our last update, we have added summary tabs which link to each of the detailed guides. As with the groupings, if you’re satisfied that each of the detailed prompts have been correctly dealt with, rather than answer each individually, you may wish to only complete the summary tabs and not the detailed guide tabs.
Access to these documents is restricted to our IPs and to members of the Restructuring and Insolvency Community, so you’ll need your login details to hand.