CAIRP

Canadian Association of Insolvency and Restructuring Professionals

Professional DevelopmentMandatory Professional Development

In this section

CAIRP understands that COVID-19 has meant a time of adjustment, challenges and change for our members, both personally and professionally. At this time of uncertainty, it is more important than ever for members to be able to connect with each other and stay up-to-date with the latest developments, strategies and files, but in a way that takes into consideration this new and evolving landscape.

CAIRP is committed to providing quality online professional development content and we will be continuing with our National Webinar Series for 2021-22.

As such, the minimum Mandatory Professional Development (MPD) requirement of 20 hours/year of professional development for fiscal year ending March 31, 2022 is still required of CAIRP members with slight clarifications:

  • Attendance at CAIRP online events (e.g., webinars) can be counted as “Approved Professional Development Program” (APDP) Type I activities, by which members are expected to have seven hours of professional development by fiscal year ending March 31, 2022.
  • Non-CAIRP online events (e.g., webinars) may also qualify as an APDP Type I, however, the same guidelines for qualification exists for online offerings: it is the member’s responsibility to carefully consider the appropriateness of non-CAIRP online content to ensure they meet the MPD requirement for credit as defined in these Guidelines. That is, the virtual event must provide content and delivery that CAIRP deems appropriate for developing competencies that are directly relevant to a member’s professional responsibilities and consistent with the technical and enabling competencies outlined in CAIRP’s CIRP Qualification Program Competency Profile. For audit purposes, documentation to verify the professional development session’s content, including a copy of the session name, length and mode of delivery, and an outline/description, along with payment/invoice and/or confirmation of attendance by the provider or employer (e.g., registration confirmation) should be retained for a minimum of 24 months. Note: CAIRP does not have the resources to evaluate specific external programs in advance to verify whether they may be approved as an APDP.
  • The requirements for MPD hours earned through “Other PD Activities” (Type II) remains the same.
 

Why is Mandatory Professional Development necessary?

Enforcing a Mandatory Professional Development requirement is a generally accepted best practice for regulated professions. This requirement helps ensure professional credibility, competency and confidence in both CAIRP as a professional association and its members who have earned the right to hold the professional designation of “CIRP.” CAIRP members have a professional obligation to maintain, refresh and add to the knowledge and skills they apply to serve the public interest of financially challenged individuals and businesses and their creditors.

Accordingly, satisfying CAIRP’s annual MPD requirement is a prerequisite for maintaining membership and using the “CIRP” designation. A key element of CAIRP’s mission statement is to provide relevant professional development to members. The MPD requirement and delivery of relevant professional development help support CAIRP’s vision to be Canada’s preeminent association for the education, standards and advocacy of insolvency and restructuring professionals. CAIRP’s MPD requirements are governed by the association’s Bylaws.

 

Mandatory Professional Development Requirement

The minimum Mandatory Professional Development requirement for members is 20 hours/year of professional development, which helps develop competencies directly relevant to a member’s professional responsibilities and career growth. Relevant professional development maintains and builds upon the technical and enabling competencies outlined in CAIRP’s CIRP Qualification Program Competency Profile. At least seven hours must include attendance at an Approved Professional Development Program (Type I). The remaining hours may be earned through Other PD Activities (Type II). CAIRP’s experience is that a majority of members significantly exceed the minimum MPD requirement.

 

MPD Requirements for Life Associates with LIT status

The minimum Mandatory Professional Development requirement for Life Associates with LIT status is 10 hours/year of professional development. At least 3.5 hours must include attendance at an Approved Professional Development Program (Type I). The remaining hours may be earned through Other PD Activities (Type II).

 

Approved Professional Development Program

An Approved Professional Development Program (APDP) delivers professional development content that is approved by CAIRP as providing members the opportunity to develop new or existing competencies that are directly relevant to a member’s responsibilities and/or career growth within the insolvency and restructuring profession. Normally an APDP will be delivered in a live seminar or conference experience. The CAIRP Forums, CAIRPEX, Annual Conference, and ARIL are all pre-approved APDPs.

Non-CAIRP events may also qualify as an Approved Professional Development Program. However, it is the member’s responsibility to carefully consider the appropriateness of non-CAIRP events to ensure they meet the MPD Requirement for credit as defined in these Guidelines. That is, the event must provide content and delivery that CAIRP deems appropriate for developing competencies that are directly relevant to a member’s professional responsibilities and consistent with the technical and enabling competencies outlined in CAIRP’s CIRP Qualification Program Competency Profile. For audit purposes, documentation to verify the professional development session’s content, including a copy of the Revised – August 2019 session name, length and mode of delivery, and an outline/description, along with payment/invoice and/or confirmation of attendance by the provider or employer (e.g., registration confirmation) should be retained for a minimum of 24 months. Note: CAIRP does not have the resources to evaluate specific external programs in advance to verify whether they may be approved as an APDP.

 

Other Professional Development Activities

Other professional development activities provide members the opportunity to learn while contributing to the advancement of the insolvency profession, networking, and/or self-study. Members may claim hour for hour credit for each hour of time actually spent in a professional development activity.

 

Special Circumstances

Members who encounter special circumstances that severely limit their ability to meet the MPD requirement may apply for temporary relief. Upon request, exemptions may be approved by the Board if a member was not working for six months or more due to such situations as illness, maternity leave/parenting or other extraordinary circumstances.

The following table provides guidance for QUALIFYING PROFESSIONAL DEVELOPMENT ACTIVITIES:

Type I - APDPCreditExplanation
Approved Professional Development Program (APDP Hour for hour credit for time in attendance at APDP learning events. A minimum of 7 hours must be completed annually by attending a CAIRP approved, professional development program. (see note above regarding non-CAIRP events).
Type II - Other PD ActivitiesCreditExplanation
CQP/PCIC course development Hour for hour credit for actual time spent.  
CQP Exam Board Hour for hour credit for actual time spent.  
CQP Test Marking Hour for hour credit for actual time spent.  
Oral Board Examiner Hour for hour credit for actual time spent.  
Speaking engagement at CAIRP or another insolvency related event Hour for hour credit for actual time spent. Includes research and preparation
Seminar/course leader/facilitator Hour for hour credit for actual time spent. CAIRP or other insolvency (CBA, Post-secondary, etc)
Author of insolvency related articles/ professional papers Hour for hour credit for actual time spent.  
CAIRP committees/task forces Hour for hour credit for actual time spent.  
External committees or task forces Hour for hour credit for actual time spent. e.g. CQP Board of Directors, government advisory committees
Sponsoring or Mentoring CQP candidate(s) Hour for hour credit for actual time spent.  
In-house employer sponsored PD Hour for hour credit for actual time spent.  
CQP Exam Marking Hour for hour credit for actual time spent.  
PCC Investigators Hour for hour credit for actual time spent. Investigators appointed by CAIRP’s PCC may count hours investigating a case
Self-study Hour for hour credit for actual time spent. Content must develop new or existing competencies in areas directly relevant to a member’s professional responsibilities and career growth e.g. court case decisions, Rebuilding Success, CAIRP Newsletter, Insolvency Insider, etc.


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Standards of Professional Practice

CAIRP is committed to quality and professionalism in the practice of insolvency and expresses this commitment through the adoption of Standards of Professional Practice.

View the standards