Common Sanctions Guidance

There are five Recognised Professional Bodies (RPBs) that license insolvency practitioners under the Insolvency Act 1986 and the Insolvency (NI) Order 1989. Chartered Accountants Ireland is a RPB.

The insolvency regulators have developed a Common Sanctions Guidance which aims to provide transparency and ensures that, if the findings against an insolvency practitioner are consistent, the outcome and sanction across the RPBs are comparable.

The Disciplinary Committees are aware of the development of this Common Sanctions Guidance but this is intended for guidance only and each disciplinary committee or tribunal will use its own judgement to set a sanction appropriate to the circumstances of the individual case. At this stage the Common Sanctions Guidance will only be considered by the Disciplinary Committees in relation to complaints relating to those Insolvency Practitioners licensed under the Insolvency Act 1986 and the Insolvency (NI) Order 1989.