The Insolvency Practitioners Association of Singapore Limited (IPAS) was incorporated on 12 April 2005 with the support of the Institute of Singapore Chartered Accountants (ISCA), the Law Society of Singapore (Lawsoc) and the Official Receiver and Official Assignee of Singapore. The members of IPAS are ISCA and Lawsoc.
IPAS aims to be the premier professional body for the insolvency profession in Singapore with emphasis on training, continuing professional development and ethics. The objectives of the Association include:
- Provision of a corporate identity and organisation for insolvency practitioners;
- Associate, Fellow and Student registration;
- Support and advancement of the status and interest of insolvency practitioners;
- Provision of recognised qualifications for persons engaged in the practice of insolvency;
- Promotion of the technical competence of insolvency practitioners;
- Provision of updates on developments in insolvency legislation and proposals and latest insolvency judgments by Singapore Courts and other jurisdictions.
The Associates and Fellows of IPAS are mainly insolvency practitioners, accountants, lawyers and other individuals who are interested in the insolvency profession and related activities. The accountants and lawyers who are existing members of ISCA and the Lawsoc may apply for IPAS associateship/fellowship. Other individuals may apply if they meet the eligibility requirements for admission.
IPAS provides a range of services to the Associates or Fellows of IPAS. These include the opportunity to participate in technical continuing professional development and other activities; access to journals, technical articles and insolvency practice updates from IPAS; and involvement in dialogue sessions with the Official Receiver and Official Assignee and other relevant agencies on issues affecting practitioners.