Thematic review by the Insolvency Service of monitoring by ICAEW, ICAS and IPA of redundancy payment work by Insolvency Practitioners
This review covered how the ICAEW, IPA and ICAS approached monitoring redundancy payments claims related work by their licensed Insolvency Practitioners.
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In December 2020, the Insolvency Service reminded Insolvency Practitioners of the expectations regarding submission of forms to Redundancy Payments Service, in particular form RP14A, by way of Dear Insolvency Practitioner Issue 117. The article further informed Insolvency Practitioners of indicators to bear in mind when considering whether a company’s formal insolvency may be being used to perpetrate fraudulent redundancy claims.
In undertaking this thematic review, the primary finding was that when each RPB considered an Insolvency Practitioners’ redundancy payments claims work, this work was conducted at a level in line with the Insolvency Service’s expectations. There was, however, variation in the volume of sampling undertaken by RPBs; and there were constraints in terms of sampling cases with profiles akin to those flagged in Dear Insolvency Practitioner 117.
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