IPs will be aware that having an efficient and robust insolvency regime is critical to the economy. Businesses and individuals in financial difficulty need the assurance that they are working with IPs that uphold the highest professional standards and give the right advice. The UK’s existing regulatory framework is both robust and cost effective, but there is always room for improvement.
ICAEW supports efforts to strengthen or enhance the current system and, as the largest insolvency regulator in the UK, we will be submitting a full response to the government’s call for evidence in due course. A direct link to the Call for Evidence document can be found here.
IPs have been invited to have their say, and further details including how to reply can also be found in July’s edition of Dear IP which can be found here.
Responses are due by 4 October 2019, and IPs should send these to IPregulation.Review@insolvency.gov.uk