Competency
There are three key areas in insolvency work. They are:
- Corporate insolvency
- Personal insolvency
- Rescue and restructuring
"Competency" applies to all three areas because the underlying principles are regarded as the same and the required competencies are similar except that they are applied in different contexts.
The competency requirements for the specialist designation in insolvency ("SD (Insolvency)") are defined into two categories: technical competencies and generic competencies.
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Technical competencies |
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Technical competencies are categorized into two areas:
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Depth of knowledge and skills is defined into three levels: Basic level – Having an awareness of the knowledge and skills. Able to identify potential issues and seek other professional advice. Advanced level – Having a reasonable level of knowledge and skills. Able to apply in straightforward situations. Mastery level – Having in-depth knowledge and skillsets. Able to apply the competency in complicated situations. |
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Applicants of SD (Insolvency) are required to demonstrate their attainment of all the technical competencies at the required level (mastery, advanced or basic). |
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B. |
Generic competencies |
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There are five key areas in generic competencies:
Applicants of SD (Insolvency) are required to demonstrate a reasonable level of competence in all five areas.
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