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Insolvency Service to rescind ACCA’s status as recognised professional body

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Published on: 27 January 2021

Published by LNB News

LNB News 27/01/2021

Document Information

Issue Date: 27 January 2021

Published Date: 27 January 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Insolvency Service has announced that the Association of Chartered Certified Accountants (ACCA) has applied to the Secretary of State for Business to give up its status as a recognised professional body for insolvency practitioners. Following a request made under section 391N of the Insolvency Act 1986 by the ACCA on 20 February 2019, in which it asked the Secretary of State to consider terminating the ACCA’s status as a recognised professional body, the Minister for Climate Change and Corporate Responsibility is satisfied that it is appropriate to revoke this recognition. The Secretary of State has thus decided to make the Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order 2021, which will take effect from 1 March 2021.

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