Professional Practice Standard 4 (PPS 4)
Business Viability Reviews

The purpose of the Professional Practice Standards (PPSs) is to ensure Members of the Association for Business Restructuring & Turnaround (ABRT), and all those who work for, represent and act on their behalf maintain the highest professional standards at all times. Each PPS should be read in conjunction with the wider fundamental principles embodied in the ABRT Code of Ethics (Ethics Code) and should be applied in accordance with the spirit of the Code.


The PPSs set out practice guidelines ensuring that all those leading an engagement in the restructuring and turnaround of a business, as well as the resolution of financial distress of a business or its stakeholders, do so in a ‘best practice’ way, harmonised with all prevailing statute, and ethical and other relevant guidelines at all times. PPSs set out required practice but are not statutory or legislative statements.


A literal interpretation and use of a PPS may not be appropriate where it contradicts the fundamental principles of the Ethics Code, the regulatory or legal framework or any other applicable ethical codes to which the Member may be required to adhere to. Members should apply their own professional discretion, logical reasoning and rationalisation such that the PPS may also be applied to the full range of business structures.