The Insolvency Service at the same time as abolishing the SIVA have mothballed plans to make it easier for Accountants to qualify as Insolvency Practitioners to solely administer IVA’s.

At present only qualified Insolvency Practitioners can administer an IVA. To qualify as an Insolvency Practitioner you have to sit exams on Corporate Insolvency and gain considerable experience working in these areas. Only a small part of the training is relevant to IVA’s.

This therefore means it takes considerable time and effort to become a fully qualified Insolvency Practitioner when in practice a qualified accountant would find it relatively easy to gain experience and understanding of IVA’s.

At IVA TV we thought the proposed simpler qualification made perfect senses and think it’s a huge shame it’s been dropped. The more accountants able to offer IVA’s would have increased competition and reduced costs and would therefore have greatly benefited the consumer.