The Memorandum of Understanding (MOU) has been agreed between the Insolvency Service and the Recognised Professional Bodies (RPBs) for the purposes of achieving consistency in the authorisation and regulation of insolvency practitioners.
The 'Principles for Monitoring' agreed between the Insolvency Service and the RPBs, ensure that the RPBs work to common standards in carrying out the monitoring of Insolvency Practitioners. Currently CARB visit all Insolvency Practitioners at least every three years.
Information on visits and how to prepare for an insolvency monitoring visit can be obtained in 'A Guide to your Insolvency Monitoring Visit'.
Members who act as Insolvency Practitioners in Ireland are required to hold a Practising Certificate and an Insolvency Practising Certificate. All Practising Certificate Holders are included with the quality assurance process detailed within the Public Practice Regulations.