CAIRP ensures reliability and professional competence
Members of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) are entitled to use the professional designation “CIRP” that identifies them as Chartered Insolvency and Restructuring Professionals. All CAIRP members must comply with CAIRP's Bylaws, Standards of Professional Practice and Rules of Professional Conduct.
As an advocate for its members, CAIRP takes professional competence seriously and has all the tools to ensure the competence and public trust of its members.
To achieve this goal, CAIRP educates and supports its members by providing insolvency, restructuring and related advisory services through its education programs in a manner that instills the highest degree of public trust. CAIRP members are required to complete annual mandatory professional development by attending and/or participating in annual continuing education activities.
CAIRP's Bylaws, Rules of Professional Conduct and Standards of Professional Practice govern all CAIRP members and are designed to ensure the protection of the public at all times. CAIRP’s Professional Conduct Committee (PCC) is responsible for investigating complaints regarding any CAIRP member. CAIRP’s Discipline Committee can sanction a member liable for Professional Misconduct.
To submit a complaint to the PCC you must complete a Professional Conduct Complaint Form.
The Office of the Superintendent of Bankruptcy (OSB) is the Federal regulator of the insolvency process. One of their mandates is to ensure Licensed Insolvency Trustees comply with the Bankruptcy and Insolvency Act (BIA) and its regulations.
Almost ninety percent of Licensed Insolvency Trustees licensed by the OSB are members of CAIRP. The OSB performs regular inspections to ensure that Licensed Insolvency Trustees comply with the BIA, its Rules, as well as any directives issued by their office.