ABRT Executive Certification and Practitioner Pathway
A $110 (GST inc) once-off application fee is payable for addition to the directory.
1. Restructuring and Turnaround Associate – RTA®
Fit and proper person declaration required. Minimum of two professional references required. Verification of qualifications, professional memberships and certifications. Police/criminal clearances required.
Expectation to contribute towards research, education, advocacy and professional standards. Annual declaration required. Whilst officially not an ABRT professional member with voting rights (unless consented member of the Board or designated sub-committee member), Restructuring and Turnaround Associate’s may matriculate to an Executive RTE® or a Practitioner RTP® at the Board’s discretion.
As a newly founded professional association, the ABRT recognises that a disproportionate number of seasoned professionals, executives and academics members will commence as Restructuring and Turnaround Associates RTA®. With the development of the ABRT’s Executive Certification and as the Association continues with its state and territoy launch events during 2023, it is expected that the number of ABRT professional members will grow rapidly.
2. Restructuring and Turnaround Executive – RTE®
Having satisfied the ABRT Eligibility Criteria as a Restructuring and Turnaround Associate RTA®, the member may undertake the ‘Executive Certificate in Restructuring and Turnaround’. This results in the applicant graduating to Restructuring & Turnaround Executive RTE® and thus gaining the highest possile professional recognition that can be achieved by a professional or executive within the broad realms of business Restructuring and Turnaround Australian jurisdiction. This is suitable to directors, executives, change managers, industry leaders, accounting and legal professionals, business growth specialists and other professionals that have become disenchanted by the poor quality of the exisiting post-graduate supposedly covering this profession.
Maintaining a minimum of 25 hours of CPD per annum, Restructuring & Turnaround Executives RTE® will transform the lives and careers of thousands colleagues, board members, professionals and organisations. The ABRT professional certification requires candidates to purchase the latest copy of ‘KEAY’S INSOLVENCY: personal and corporate law and practice’ (Michael Murray and Jason Harris). There is a requirement to understand the latest legislative reform but, predominantly, the focus of the executive certification is the ability to be decisive, ensure practical application, and tackle real world business case examples.
The ABRT believes in collaborative learning and research. Candidates can expect to meet a range of professionals and executives from various industries that are seeking to undertake the certification for a multitude of reasons. Collaborating with a range of diverse professionals, you will get the opportunity to hear from our seasoned academics, leadership consultants, governance experts and thought leaders. This is not an easy course and there is nothing in Australia that resembles it even closely. However, the ABRT guarantees you will forge strong alliances, build lifelong business contacts, develop business acumen, protect yourself and others ethically and proudly demonstrate your professional expertise. you will be in the unique position to develop short timeframe business and financial turnaround strategies.
3. Restructuring and Turnaround Practitioner – RTP®
A Restructuring and Turnaround Practitioner RTP®, having passed the ‘Executive Certificate in Restructuring and Turnaround’ may apply for their public practice certificate by undertaking the ‘ABRT Professional Practice Course’ within 6 months of their application. The ABRT recognises the Restructuring and Turnaround field is so broad that it extends far beyond the outdated roots of insolvency law or accounting exposure and the accompanying sluggish academic based courses offered by associations that may consider their could be an ‘overlap’.
Holding a Public Practice Certificate means you are able to strike out on your own as a Restructuring and Turnaround specialist consultant or commence your own firm. Strict adherence to the ABRT ethics code and Professional Practice Standards is fundamental and you are required to maintain the usual annual compliance and performance checks expected of professional experts.
Restructuring and Turnaround Practitioners RTP® are required to hold adequate professional indemnity insurance (for example, as required by section 588GA – advising directors on safe harbour protection from insolvent trading personal liability). Practicing members may also consider obtaining an Australian Credit Licence with ‘Debt Management Services’ authorisation (rather than go through the application process, you can also elect to be an Authorised Credit Representative of an ASIC licensed Debt Management Services ACL holder (contact eddie@debtms.com.au for further information).
Restructuring & Turnaround Executives RTE® may apply for a Practitioner status if they already hold a public practice certificate with a limited liability scheme approved by the professional standards council (for example, accountants, lawyers, surveyors, computer society members etc…). A new formal insolvency regime became effective in 2020 that permits the directors of a company to put forward a compromise proposal to creditors whilst they continue to trade the business (dubbed ‘debtor in possession’). A ‘small business restructuring practitioner’ must be appointed under 5.3B of the CA 2001 – this is a subclass of a registered liquidator and the application must be made through ASIC. To find an appropriately qualified advisor, please use our Professional Directory.
