CAIRP

Canadian Association of Insolvency and Restructuring Professionals

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A three level program in both official languages

The CQP is a three level program available in both official languages. For those accepted, the Program will include the following courses (for more detail refer to the chart below):

  • The Introduction to Insolvency Course, providing an overview of the profession and allowing candidates to acquire a general understanding of the insolvency and restructuring field;
  • The Core Knowledge Course, presenting the technical background needed by an insolvency and restructuring professional to practice; and
  • The Applied Knowledge Course, an application-based course training candidates to develop and apply the skills required to succeed in their future career as an Insolvency and Restructuring Professional; and
  • In addition, candidates will need to successfully complete the Insolvency Counsellor’s Qualification Course, which provides the theoretical foundation of insolvency counselling.

Curriculum

Content Themes

Evaluation

Introduction to Insolvency Course
  • Background material on insolvency, applicable statutes and the profession as a whole
  • Key Stakeholders: OSB, CAIRP
  • Risk Management / common issues
  • Preliminary do’s and don’ts
  • Ethics, conflict and professional conduct issues
  • Assignments
  • Self-administered exam
Core Knowledge Course

This course is organized into 4 distinct modules:

  • Bankruptcy
  • Restructuring Alternatives
  • Receiverships
  • Special Topics

Key concepts are introduced in each module but candidates are reminded that these concepts may apply and often do in different kinds of engagements. Key topics include:

  • Ethics, conflict and professional conduct issues
  • Roles and responsibilities of players
  • Assets & liabilities
  • Receivership, interim receivers, special appointments, e.g. liquidators
  • Bankruptcy
  • Methods of realization
  • Primary factors affecting insolvency/restructuring options
  • Proposals under the Bankruptcy and Insolvency Act (BIA), Division I & II
  • Continuing and monitoring operations
  • Proceedings under the Companies’ Creditors Arrangement Act (CCAA)
  • Insurance
  • Income and sales tax issues
  • Environmental issues
  • Insolvencies in an international context
  • Directors’ liabilities
 
  • Assignments
  • Core Knowledge Course Exam (100% multiple choice)
  • Candidates must be enrolled in the course for a minimum of six months prior to attempting the examination
Applied Knowledge Course
  • Running an insolvency practice (business plans, marketing, communication, banking, etc.)
  • Ethics, conflict and professional conduct issues
  • Public trust and policy
  • Analysis of restructuring alternatives
  • Practice Risk Management
  • Critical Thinking Skill Development
  • Case Analysis, including access to 8 teaching case studies.
  • Assignments
  • Increasingly complex case studies
  • Candidate + sponsor sign off upon completion
  • Candidates must be enrolled in the course for a minimum of six months prior to attempting the examination
Insolvency Counsellor’s Qualification Course (ICQC)
  • Personal Insolvency/Bankruptcy under the BIA
  • Interviewing and Counselling
  • Elements of Money Management
  • Money in Context

Notes:

The ICQC may be taken at any time during the candidate’s course of study.

Candidates must complete the ICQC prior to receiving CIRP certification or a trustee licence.

The OSB requires candidates to be enrolled in or to have successfully completed this course before appearing at the Oral Boards

 
  • Online final exam
 
CNIE (Competency-Based National Insolvency Exam)
  • Comprehensive final exam covering material from all three courses (excluding the ICQC)
  • Testing on a combination of knowledge and the ability to analyze and apply skills acquired during the Program

 

  • In order to complete the Program successfully, candidates must achieve a pass in all courses and assignments.
  • The courses are designed to build on one another; therefore each course is a prerequisite to the next. The only exception is the ICQC, which may be taken at any time during the candidate’s course of study.
  • Candidates must complete the ICQC prior to receiving CIRP certification or a trustee licence.
  • Any candidate may receive course material in the other official language at no extra charge.
  • There is no time limitation for candidates to complete the Program, however, candidates who remain inactive for three or more consecutive years will be required to reapply as if they were new applicants, unless a deferral is requested.

All of the details pertaining to the Program are also available in the Program Rules.

Experience Requirement

Candidates must acquire a minimum of 2,400 hours of relevant insolvency experience over the duration of the Program. This must be completed prior to writing the Competency-Based National Insolvency Examination (CNIE).

Candidates will be required to submit a yearly summation of their professional activities in the subject areas listed above, and an employer will need to corroborate the number of hours listed. Candidates will not be allowed to attempt the CNIE until the 2,400-hour requirement has been achieved.