Become a CIRP/LIT
The Chartered Insolvency and Restructuring Professional Qualification Program or CIRP Qualification Program (CQP) is the official qualification process for individuals seeking to become a Chartered Insolvency and Restructuring Professional (CIRP). Additionally, this is the path to become a Licensed Insolvency Trustee.
Under the terms of a Memorandum of Understanding (MOU) between CAIRP and the OSB, CAIRP assumes sole responsibility for the creation, delivery and maintenance of the education program required to become a CIRP, Licensed Insolvency Trustee and qualified insolvency counsellor. The program is named the "CIRP Qualification Program, or CQP".
The CQP is designed to develop, in conjunction with work experience in the field, the knowledge, skills and abilities or competencies candidates require to become CIRPs and eventually LITs.
If you are interested in a career as an insolvency and restructuring professional, CAIRP offers the CIRP Qualification Program (CQP) that leads to CAIRP’s professional designation, Chartered Insolvency and Restructuring Professional (CIRP) and the Office of the Superintendent of Bankruptcy’s license to practice as a Licensed Insolvency Trustee (LIT).
Trustee License
Completion of the CQP is generally a prerequisite to receiving an invitation from the OSB to challenge the Oral Board examination for the purpose of obtaining a license as a Licensed Insolvency Trustee.
Licensed trustees who are not already members of CAIRP are invited to apply for membership to CAIRP. CAIRP encourages on-going training and professional development and licenses practitioners to use the CIRP certification mark upon signing a license agreement.
For further information please visit the section How to Become a Licensed Trustee of the OSB website.
CQP Entrance requirements:
Program entrance requirements were revised as of January 2021. The following apply to new applicants:
To be eligible for admission to the CQP, applicants must ordinarily reside or practice in Canada and must either:
- Hold a relevant professional designation relating to the accounting or auditing field recognized in Canada
OR
- Hold and undergraduate degree from a recognized post-secondary institution
While not required for entry into the CQP program, it is strongly recommended that potential candidates have completed courses in business law, financial accounting and finance. Background knowledge in these areas have proven to be helpful in developing the required competencies required of an entry-level CIRP.
An applicant that does not meet the requirements above may be considered for admission at the sole discretion of the CQP Committee, upon demonstration, through a combination of sponsor support, relevant insolvency work experience and educational background, that the candidate may likely be success in the program.
Applicants who want to enquire whether or not they meet the requirements may contact the Registrar at (isabelle.gauthier@cairp.ca).
For more information on the CQP, please consult the Program Rules
Application
Applicants must submit a completed CQP Application Form along with a non-refundable application fee to the CQP Registrar. Once the application has been approved, the candidate will be invoiced for Program fees and the material for the first course will be e-mailed to the candidate. The CQP Application Form can be found below.
Please carefully review the Program rules prior to applying to the Program:
A full résumé and a completed Sponsor Recommendation Form must accompany the Application Form.
* All CQP candidates may complete the Introduction to Insolvency Course before they choose a sponsor. However, all candidates are strongly encouraged to have a sponsor as soon as they start the Program so as to optimize their chance of success. At all times during the remainder of the Program, candidates must have a sponsor to direct their studies, mark assignments, act as mentor, and attest to their readiness to be examined.
Disclaimer of Liability
The CQP reserves the right to amend course information, prices, and any other information on this website. In any instance of discrepancy between information on this website and other information provided by the CQP, the most recent information, as stipulated by the CQP Registrar, shall take precedence.
In all instances, it is the responsibility of applicants and candidates to ensure they have requested and obtained accurate information about the CQP and the steps to become a CIRP and/or a licensed Insolvency Trustee. In no instance will the CQP be liable for any expenses, potential losses, or unrealized revenue that might be portrayed as having occurred either as a result of the refusal of the CQP to admit an applicant into the Program or from any failure of a candidate to become a CIRP and/or a Licensed Insolvency Trustee.