CIRP Qualification Program
The CIRP Qualification Program (CQP) provides the foundational knowledge, skills and competencies required to become a Chartered Insolvency and Restructuring Professional (CIRP) and eventually a Licensed Insolvency Trustee (LIT).
Entrance Requirements
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.
While not an entrance requirement, it is highly recommended that applicants have completed courses in financial accounting, business, law and finance. Candidates with background knowledge of these areas have historically experienced greater success in this program.
Note: An applicant 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 applicant may likely be successful in the program. Applicants who want to enquire whether they meet the requirements may contact the Registrar at .
Course Content and Delivery
The CIRP Qualification Program is a self-study program that is available in both English and French. Candidates in the program are required to be articling associates in good standing of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP).
All course materials are developed by CAIRP, in conjunction with subject matter experts in the insolvency and restructuring field. Courses are delivered online via CAIRP’s learning management system (LMS), D2L. Candidates will access all course materials and other relevant information in this platform.
The courses are designed to build on one another; therefore, each course is a prerequisite to the next. To complete the program successfully, candidates must pass course assessments, including final examinations.
The CIRP Qualification Program has four courses and exams that must be completed:
Course |
Curriculum |
Evaluation |
|---|---|---|
| Introduction to Insolvency Course & Examination | This course outlines how CIRPs/LITs administer the mechanisms and procedures available through insolvency legislation in a fair and transparent manner to help all stakeholders in the process and to achieve financial rehabilitation for the debtor. | Two illustrative cases One assignment case Self-administered final Examination (multiple choice) |
| Insolvency Principles, Processes and Practice Course & Examination | This course is designed to build on the foundational knowledge you acquired in the Introduction to Insolvency course. It will equip you with the technical knowledge required as an entry-level CIRP. It will illustrate how to apply the knowledge to both consumer and corporate settings. | Course Assignments (TBD) Insolvency Principles, Processes and Practice National Exam (online, 100% multiple choice) |
| Applications in Insolvency & CNIE Prep | This course is designed to prepare candidates to write the Competency based National Insolvency Exam (CNIE). No new technical content is introduced. | Course Assignments (TBD) |
| Competency-based National Insolvency Exam (CNIE) | This is a comprehensive final exam covering material from all three CQP courses (excluding the PCIC). The exam tests the candidate’s ability to demonstrate the competencies required of an entry-level CIRP. | Case-based national exam (online) |
|
Practical Course on Insolvency Counselling (PCIC) |
The PCIC provides the knowledge required to provide insolvency counselling. | PCIC National Exam (online, 100% multiple choice) |
Experience Requirement
Candidates must acquire a minimum of 2,400 hours of relevant insolvency experience prior to attempting the Competency-Based National Insolvency Examination (CNIE).
Candidates will be required to submit an annual Experience Hour Report showing experience across four of the six competencies with significant experience in the area of Insolvency Law & Practice (at least 1,000 Experience Hours). Read the Experience Hour Policy for more information.
Ready to become a CIRP?
Applicants must complete an online application along with a non-refundable application fee. Once the application has been approved, the candidate will be sent instructions on how to register for the first course.
Please carefully review all CQP information prior to applying to the program. More details can be found under ‘CIRP Qualification Program Information & Resources’ on the right-hand navigation.
Note: 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 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 CIRP Qualification Program 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 CIRP Qualification Program and the steps to become a CIRP and/or a licensed Insolvency Trustee. In no instance will the CIRP Qualification Program 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 CIRP Qualification Program to admit an applicant into the Program or from any failure of a candidate to become a CIRP and/or a Licensed Insolvency Trustee.