Veronique Ingram/ Adam Toma/ITSA notice - ITSA publishes its Practitioner Compliance Program for 2013-14 

The following  is propaganda written  by the skank Veronique Ingram.

 “ITSA’s approach focuses on early resolution of systemic issues by adopting a proactive and preventative regulatory approach wherever possible( All Shit)

Clearly there is no transparency when the Fucker Matthew Osborne has already given advice to ITSA and trustee's  protect fraud.

This skanky bitch Veronique Ingram  is aware of the systemic corrupt conduct at ITSA .

There is a clear problem when the  Cheryl Cullen believes  that ITSA has the discretion to mislead a creditor.

It  will now be particularly amuzing when this bitch tries to defend  all this in court 

Thu 18 July 2013

ITSA published its Practitioner Compliance Program for 2013-14.

Chief Executive and Inspector-General in Bankruptcy, Veronique Ingram, said that Insolvency and Trustee Service Australia (ITSA) is pleased to publish its Practitioner Compliance Program for 2013-14.
“ITSA’s approach focuses on early resolution of systemic issues by adopting a proactive and preventative regulatory approach wherever possible. We also value the promotion of a regulatory environment where all stakeholders play a part in maintaining best practice standards.
It’s vital that ITSA continues to lead the raising of the standards of insolvency administration to ensure that the interests of Australian creditors, debtors and bankrupts are protected,” she said.
“Each year we proactively undertake practitioner inspections. In 2013-14 we expect to conduct inspections of about 750 personal insolvency administrations and the practices of more than 100 Australian personal insolvency practitioners.
This financial year the focus is in five areas.

• practitioner expenses
• bankruptcy offence investigation
• practitioner’s complaint handling systems
• practitioner’s systems and controls
• practitioner remuneration

Ms Ingram said that ITSA’s ongoing transition to online service delivery to practitioners, debtors, creditors and the Australian public ensures that we continue to update our personal insolvency system to improve transparency, security, monitoring, fairness, efficiency and tough penalties when needed.
“Australia has a robust, equitable, and effective personal insolvency regulatory system and it’s important to continually improve to remain one of the best jurisdictions in personal insolvencies globally,” she said.
All ITSA stakeholders are encouraged to view the ITSA’s Insolvency Practitioner Compliance Program for 2013-14

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About Regulation and Enforcement Insolvency practitioner compliance program 2013-2014

Insolvency practitioner compliance program 2013-2014 Includes the overarching ethos and strategic focus areas for Regulation and Enforcement. The insolvency compliance strategy includes the following sections: Overarching ethos Statements of principle Whole of industry approach and international best practice focus Strategic focus areas Practitioner's expenses Offence referrals Practitioner's systems and controls Complaint handling Remuneration Insolvency practitioner compliance activities Annexure A 1) Overarching ethos Statements of principle Our approach focuses on early resolution of systemic issues by adopting a proactive and preventative regulatory approach wherever possible. The Inspector-General Practice Statement 1 – Regulatory Framework (IGPS 1) outlines the core of our regulatory ethos and describes the compliance model below. Compliance model Text based description of the diagram above. Whole of industry approach and international best practice focus We promote a regulatory environment where all stakeholders play a part in maintaining best practice standards. We will continue to engage with financial counsellors, creditors, debtors, the Commonwealth Director of Public Prosecutions (CDPP), Insolvency Practitioners Association (IPAA), Debt Agreement Practitioners Association (DAPA), Australian Securities and Investments Commission (ASIC) and other professional associations and government agencies. This broad level of engagement ensures all necessary intelligence is available and facilitates the best outcomes for those affected by insolvency. We will also continue to actively engage with the International Association of Insolvency Regulators (IAIR) to facilitate appropriate benchmarking against developments and advances in insolvency regimes in comparable jurisdictions. 2) Strategic focus areas In the financial year to 30 June 2014, we will focus on the following five (5) technical and non-technical areas in its compliance program. Practitioner’s expenses On the back of successful remuneration outcomes in 2011-12 and 2012-13, we will extend its review in 2013-14 to focus more specifically on outlays and expenses taken by practitioners. The focus will be to ensure that the outlays taken are reasonable and do not confer an extra benefit for the practitioner. Offence Referrals An effective Enforcement program underpins a properly functioning insolvency system by protecting the public interest. We will ensure practitioners are identifying offences by bankrupts and others in the system in the course of their investigative estate work and referring them for review and prosecution if necessary. Practitioner’s systems and controls Insolvency practitioners rely on a framework of systems and controls that should keep up with legislative and best practice developments. In 2013-14 we will review practitioners’ quality assurance procedures to ensure systems and controls that govern the administration of estates are of an acceptable standard. Complaint handling It is imperative practitioners have adequate internal complaint handling systems as outlined by the Inspector-General as part of effective practitioner communication (IGPD 22) and the IPA Code of Professional Conduct. In the context of section 2.3 above, we will focus particularly on a practitioners’ complaint handling systems to ensure issues of concern are resolved at the first point of contact wherever possible. Remuneration An ongoing focus will be to proactively identify, and where possible remedy, instances of overcharging or over-servicing by registered trustees (RTs) and/or third parties, particularly in the area of “solvent” estates and annulments under section 153A of the Bankruptcy Act 1966. 3) Insolvency practitioner compliance activities The five (5) strategic focus areas in 2013-14, outlined in section 2 above, are complemented by our eight (8) core insolvency compliance roles. These core roles and our strategic focus within each role in 2013-14 is explained in Annexure A. Annexure A No. Function Inspector-General Practice Statement (IGPS) or other web based material Strategic focus areas in 2013-14 1 Trustee (RT) and debt agreement administrator (RDAA) registrations (i)   IGPS 4 – Guidelines and processes for registration of Debt Agreement Administrators (ii)  IGPS 13 – Trustee registered under the Bankruptcy Act – reistration application process A focus on inactive practitioners to ascertain if the required skills and knowledge have been retained. 2 Inspections IGPS 11 - Monitoring and inspection of Bankruptcy Trustees and Debt Agreement Administrators Emphasis will be directed to a practitioner’s quality assurance procedures to ensure systems and controls are acceptable. 3 Proactive monitoring IGPS 11 - Monitoring and inspection of Bankruptcy Trustees and Debt Agreement Administrators Attention will be drawn to review a practitioner’s first point of contact with debtors to ensure advice provided is within legislative and best practice guidelines. 4 Guidance Personal Insolvency Regulator newsletter Practices and policies Quarterly issues of the Personal Insolvency Regulator newsletter. Review, consultation and update of IGPS where necessary. Facilitate Practitioner Information Sessions when deemed necessary. 5 Complaints IGPS 10 – Complaints handling process for complaints against bankruptcy Trustees and Debt Agreement Administrators Review of practitioner’s internal complaint handling systems. Emphasise gatekeeper approach to identify issues early for debtors and creditors - either resolve or direct to another appropriate agency. 6 Inspector-General Reviews (i)    IGPS 12 – Statutory reviews of Trustees’ decisions under the Bankruptcy Act 1966 by the Inspector-General in Bankruptcy (ii)   IGPS 15 – Assessment by the Inspector-General of a Trustee’s remuneration approval request (iii)  IGPS 16 – Reviewing remuneration of Trustees and costs of third party service providers Practitioner remuneration and expenses/outlays. 7 Disciplinary action (i)    IGPS 9 – Involuntary cancellation of registration of Debt Agreement Administrators and ineligibility process (ii)   IGPS 8 – Involuntary cancellation of Trustee registration Early intervention cultivating productive working relationships with all stakeholders so that proactive action can be taken as appropriate. 8 Investigate & prosecute offences against the Bankruptcy Act 1966 IGPS 18 – Issuing of infringement notices by the Inspector-General in Bankruptcy IGPS 14 – Referring offences against the Bankruptcy Act 1966 to the Inspector-General A focus on the quality of practitioner’s offence referrals. Ensuring timely lodging of documents with the Official Receiver in accordance with time-frames stipulated in the Act. Inspector-General Practice Statement (IGPS) – available publicly on our website – explains how we go about what we do. Document Actions