Release of Practice Statements for stakeholder consultation

17/12/2018

ARITA has today released a number of Practice Statements for consultation.

Practice Statements are designed to give technical guidance to members on best practice approaches to specific work areas. Some of the content in the Practice Statements may be recognised as having previously been found in the 3rd Edition of our Code of Professional Practice, but is no longer included in the proposed 4th Edition which is currently out for consultation as well.

Practice Statements are not proposed to be enforceable per se. They do not form part of the proposed 4th Edition of our Code of Professional Practice. This consultation, while being run in parallel to that of proposed Code, is separate and distinct from the Code consultation.

Practice Statements that are being released for consultation at this time are:

Practice Statements - Advisory (PSAs)

• PSA1 – Threats and Safeguards

Practice Statements – Insolvency (PSIs)

• PSI1 – Independence
• PSI2 – DIRRIs
• PSI3 – Creditors’ Meetings
• PSI4 – Voluntary Administrator's Reports
• PSI5 – Remuneration Reporting
• PSI6 – Communication with Creditors
• PSI7 – Disbursements
• PSI8 – Remuneration

Stakeholders are encouraged to submit their comments, feedback and questions in relation to the proposed Practice Statements by 18 February 2019 to [email protected]