News

JIC consults on revised insolvency code

3 April 2007

The Joint Insolvency Committee (JIC) has completed a review of the Insolvency Ethical Guide, introduced in 2004.

The JIC is now seeking the views of insolvency practitioners and other stakeholders on the output of its work—a revised Insolvency Ethical Code (68k), which is partly based on the ethical framework applied by accounting bodies.

The JIC plans to recommend a revised version of the code to all authorising bodies for adoption. If the recommendation is accepted, any insolvency practitioner holding a formal appointment will be subject to a standardised code—in addition to the ethical standards of their authorising body.

The Institute of Chartered Accountants of England and Wales (ICAEW) is coordinating a consultation on the revised code for the JIC.

You can download a copy of the revised code and a consultation response form at www.icaew.com.

The consultation closes on 2 July 2007.