Become a CIRP

Why become a CIRP?

Gain specialized knowledge and build a rewarding career with the Chartered Insolvency and Restructuring Professional (CIRP) designation. This qualification is also the exclusive pathway to become a Licensed Insolvency Trustee. Here’s why you should become a CIRP.

High Demand

In today’s economic environment, professionals adept at helping people and businesses navigate the complexities of solving debt issues responsibly and efficiently are in high demand.

Professionally Recognized

The CIRP designation is a highly regarded professional designation. The designation demonstrates to employers that you have the expertise to provide sound advice in today’s complex and evolving insolvency industry.

Ever-changing, Versatile Work

The work of a CIRP is as varied and diverse as the clients they serve. No one day is like the other. You will be challenged to develop creative solutions to complex problems.

Rewarding

CIRPs experience the satisfaction of helping people and businesses rebuild their financial health and rank among the top professions in salary.

How to become a CIRP/LIT?

As outlined in CAIRP’s bylaws, and as per the Memorandum of Understanding (MOU) between CAIRP and the Superintendent of Bankruptcy, the steps to become a CIRP/LIT are outlined below.

Applicants must ordinarily reside or practice in Canada. They must also either hold a relevant professional designation relating to the accounting or auditing field recognized in Canada OR an undergraduate degree from a recognized post-secondary institution.

Applicants who do not meet the above, may be considered for admission at the sole discretion of CQP Committee, upon demonstration, through a combination of sponsor support, relevant insolvency work experience and educational background, that the candidate may likely be successful in the program. Applicants who want to enquire whether they meet the requirements may contact the Registrar at .

This online self-study program is designed to deliver practical and relevant education to individuals seeking to provide professional insolvency and restructuring services. Students must complete four courses and exams that are offered throughout the year. The courses are provided in French or English and exams are written in French or English, using a live online proctor. Click here for more information on the program.

The CNIE is the capstone exam that students write before applying for membership. It assesses candidates’ ability to demonstrate the competencies required of an entry-level CIRP. It is a comprehensive exam that is written once a year in November.

To become a CIRP, candidates are required to gain 2,400 relevant hours of experience. A relevant hour is defined as work performed in an insolvency context, which is not of a clerical or routine nature. Read the Experience Hour Policy for more information.

Sponsors are an integral component of the CIRP Qualification Program. Each candidate requires a sponsor who will assist them in acquiring the knowledge required in the program, provide an ethical framework against which to measure their performance, supervise their work, and provide candid feedback and suggestions for improvement. All sponsors are Chartered Insolvency and Restructuring Professionals (CIRPs) or Licenced Insolvency Trustees (LITs).

The Competency Profile identifies the knowledge, skills and abilities required of an entry-level CIRP. These are assessed through examinations and practical experience required in the CIRP Qualification Program. Click here for more information on the competency profile.

The Chartered Insolvency and Restructuring Professional (CIRP) designation is the exclusive pathway to become a Licensed Insolvency Trustee. To learn more about this process click here.