The current round of applications for SARIPA membership will close on Thursday, 09 August 2018 as our next Board Meeting is to be held on 17 August 2018, when all new application forms will be presented for consideration. Click to request a membership application form.
SAQA ACCREDITATION - so what is all the fuss about?
"I so wish members would stop referring to what we do as an industry. We are not an industry! Unlike a factory we do not produce a product. If we consider ourselves as professionals we should be referring to what we do as a profession…" - James Galloway
The ordinary meaning of the word "profession" simply indicates a body of persons engaged in a similar occupation, but in business it actually indicates that those members collectively belong to a professional body, are subject to requirements to enter the “profession” and that they are committed to the betterment of their chosen profession. But even that is not good enough…
Within the South African context, a "profession" has a particular legal connotation. The legal-, medical- and accounting professions each function within their own statutory framework. They have their own controlling bodies and authorities regulating their affairs.
Besides those professions who may have their own specific pieces of legislation regulating their professions, one may only refer to your vocation as a "profession" if you are a member of an organisation accredited as such by the South African Qualifications Authority, simply referred to as SAQA.
Organisations seeking accreditation from SAQA are understandably subject to a long list of requirements and rigorous scrutiny. 18 months ago the SARIPA board resolved to make application to SAQA for its accreditation as a professional body and in February 2018, SARIPA was accredited by SAQA as a professional body.
But being registered as a professional body is only one side of the coin. The other side of the coin implies that the members of such an organisation are "professionals". As part of SARIPA’s application to SAQA we also applied for the registration of two separate and distinct "professional designations". The one being that of "Insolvency Practitioner or IP" and the other "Business Restructuring Professional or BRP".
Both of these professional designations have been registered as part of SARIPA’s accreditation as a professional body. Essentially what this means is that any person who wishes to conduct business as an "Insolvency Practitioner" or a "Business Restructuring Professional" will have to be a member of SARIPA in order to then make application for either or both of these designations.
In fact, no person may refer to him/herself as an "Insolvency Practitioner" or a "Business Restructuring Professional" without SARIPA having certified that person as such.
For a member of SARIPA to be granted the professional designation of either an IP or BRP, would require a separate application, subject to additional requirements and most importantly each individual awarded such profession designation/s will have to commit him/herself annually to a stringent continuous professions development program (CPD).
The two professional designations speak to two very different professions, and SARIPA members may decide to apply for either or both, or in fact neither designation. Some members such as attorneys and academics may find no need to apply for either of these designations and they will continue to be members of SARIPA with the same benefits and standing as before.
Members of SARIPA who are on the panel of the Master of the High Court and take appointments as liquidators and trustees will have to apply to SARIPA for the designation "Insolvency Practitioner", and members who wish to be accredited with CIPC for appointments as business rescue practitioners will have to apply to SARIPA for the designation "Business Restructuring Professional".
So referring to oneself as an "Insolvency Practitioner" or a "Business Restructuring Professional" now has a very particular meaning. It means you are a member of a professionally accredited body, that you in turn are a certified professional with a particular set of skills and most importantly that you conduct your chosen profession within a structured and regulated environment subject to scrutiny and ongoing professional development.
So until we achieve the ultimate goal of statutory regulation of the Insolvency profession, we have now achieved what we consider to be the most important step in that direction… the professionalisation of our organisation and its members.
That is what the fuss is all about…!
What are the requirements and how do I apply for these professional designations?
The requirements (as registered with SAQA) for each of the professional designations are attached hereto. These requirements have an academic component as well as a practical or workplace component. These requirements are essentially aimed at new entrants into the profession.
Many seasoned members may not qualify on the academic component alone, but for this reason there is also a policy on the recognition of prior learning (RPL) or the so- called "grandfather"- clause that is aimed specifically at members with years of practical experience.
Members are invited to acquaint themselves with the various policy documents and what is required for application for either of both of the designations IP or BRP.
Application forms can be obtained from the SARIPA admin office and will then be considered by the membership and education sub committees of the SARIPA board. Members are requested to submit their applications well in advance as the sub committees simply cannot consider ad hoc applications done at the last minute.
Each applicant will be required to pay a once off application fee of R500.00 and if the application is successful, in addition to your SARIPA subscription, an annual fee of R2,000.00 to maintain each of the chosen professional designations.
Please click here to see the Media Statement issued by SARIPA regarding the hearing on 02/11/2017 at the Constitutional Court of South Africa in the matter relating to the Master’s Appointment Policy.
WHY JOIN SARIPA?
One of the main advantages to becoming a member of SARIPA is that you will receive regular 'Insolvency Law Updates' written and researched by Mr Martinus (Tienie) Cronje. Part of Tienie's vast knowledge and experience comes from his years as a Researcher at the South African Law Reform Commission.
Tienie was also a Principal Researcher for the Review of the Law of Insolvency and Administration of Estates. Now happily retired, he is contracted to SARIPA to do our regular Insolvency Law Updates.
By becoming a member of SARIPA you will enjoy a discounted delegate fee at our Annual Insolvency & Restructuring Conference, to be held in Johannesburg in 2017.
You will also enjoy substantial savings on conference registration fees at the INSOL International Conferences.
THINKING OF JOINING SARIPA?
You would receive the latest judgments delivered straight to your mailbox on a regular basis:
The Supreme Court of Appeal had to decide on the proper interpretation of S153(1)(a)(ii) and section 153b(7) of the Companies Act. The case centres around the issue of whether a vote by a creditor against the adoption of a business rescue plan was inappropriate and ought to be set-aside.
If you enjoy reading this judgment and would like to receive more – one of the many benefits of belonging to SARIPA is that you receive regular judgments hot off the press delivered directly to your inbox.