The Insolvency Practice Committee (IPC) is established mainly to deal with the insolvency practice issues faced by practitioners with the aim to maintain and enhance their professional competency.
Scope and Authority
To provide a forum for the exchange of ideas and discussion of issues faced by practitioners;
To prepare guidance notes on insolvency & corporate restructuring practice as and when required;
To create awareness among members in insolvency and corporate restructuring practice in this country on the highest degree of integrity, objectivity and competency and to constantly evaluate the current framework of insolvency and corporate restructuring law and its practice in Malaysia;
To engage in discussion with stakeholders relevant to the insolvency profession, such as the Malaysian Department of Insolvency, Suruhanjaya Syarikat Malaysia and Insolvency Practitioners Association of Malaysia;
To encourage and facilitate greater cooperation and communication amongst insolvency and corporate restructuring practitioners in Malaysia; and
To deal with any other matters relating to insolvency and corporate restructuring.
Unit 33-01, Level 33, Tower A, The Vertical, Avenue 3, Bangsar South City,
No.8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia.
The use of the word ‘Accountant’
In Malaysia, the word ‘Accountant’ is protected as provided for under the provisions of the Accountants Act 1967 which states that no one can hold himself out or practise as an Accountant unless he is registered as a member of the Malaysian Institute of Accountants.
‘The Malaysian Institute of Accountants is committed to the observance and practice of the highest ethical standards of the accountancy profession. All PC holders are reminded that under the MIA By-Laws (On Professional Ethics, Conduct And Practice), no person shall practice or hold out anything on audit/tax services without a license approved by the Ministry of Finance. Every PC holder is therefore expected to comply fully with Section B200.1 to B200.6 of the MIA By-Laws (On Professional Ethics, Conduct And Practice) failing which, you may be held liable for unprofessional conduct and disciplinary action may be taken against you.’