Insolvency Guidance Papers (IGPs) are agreed by the Joint Insolvency Committee (JIC) and issued by the Recognised Professional Bodies (RPBs) to Insolvency Practitioners to provide guidance on matters that may require consideration in the conduct of insolvency work or in an Insolvency Practitioner's practice.
How do they differ from SIPs?
Unlike Statements of Insolvency Practice (SIPs), which set out required practice, IGPs are purely guidance and practitioners may develop different approaches to the areas covered by the IGPs.
IGPs are developed and approved by the Joint Insolvency Committee, and adopted by each of the insolvency authorising bodies.
IGP No. 1 Control of Cases (Effective date 1 April 2005)
IGP No. 2 Succession Planning (Effective date 1 April 2005)
IGP No. 3 Bankruptcy Family Homes (Effective date 31 October 2005)
IGP No. 4 Systems for control of accounting and other business records (Effective date 1 March 2006)
IGP No. 5 Dealing with complaints (Effective date 1 October 2009)