Part 1

Thanks for registering for the Business Rescue Practitioner License!

We have received changed requirements from the CIPC for Business Rescue Practitioners. Our Academic staff have been hard at work to incorporate these new requirements into our course material and assessments. We have recently appointed Dr. Eric Levenstein to record a series of 8 x 1 hour webinars and we will notify you when these training webinars are available and the assessment will follow.

The Business Rescue Practitioner license comes with this exclusive series of exam prep webinars as part of your package. These webinars will provide you with 8 hours of preparation for the assessment and will also provide key insights into the Business Rescue Practitioner’s role. This is not a 100% guarantee to ensure you pass the license assessment, you will also need to put in a number of hours of self study as detailed in the prospectus.
*Kindly note that you will receive emails to alert you as soon as the webinars and assessments are available.
**Please note the recommended text book is not included in the cost of the licence.
***Recommended text book: South African Business Rescue Procedure

Overview

Title 

Business Rescue Practitioner License

Course attributes  

Category:  Practice Management

Accredited:  SAIBA 

CPD credits:  70 credits  

Effort: Part 1:  Immediate. Part 2:  80 Hours  

Duration:  80 hours  

Format:  Self-study, online

Level:  Moderate 

Assessment:  Yes 

Supervised:  No 

Tuition: No 

Study Material:  Yes 

Short description 

Creating awareness of the professional duties applicable to BAP (SA)s and confirming their commitment to professionalism.

What you will learn 

By completing the Business Rescue Practitioner License Part I and Part II you will be able to:

Part I:

• Display your Business Rescue Practitioner License certificate in Social Media.
• Perform permitted work.
• Confirm that you are capable of performing business rescue and turnaround management services as per S138 of the Act;
• Confirm that you are competent to assist SMEs with business rescue applications to CIPC.

Once you have your SAIBA license endorsing you to be eligible to perform Business Rescue, register at CIPC by completing form Cor 126.1 and pay R500.

Part II:

• Showcase your commitment to professionalism.
• Understand and apply the various rules of conduct applicable to accountants.

Study units 

Business Rescue Practitioner Part I

• declare that your SAIBA BAP (SA) membership is in good standing.
• confirm your CPD hours are up to date. 
• commit to adhering to, and upholding the SAIBA constitution, codes of ethics, and engagement standards.
• commit to complete Part II of the Business Rescue Practitioner License within 6 months of receiving your initial Business Rescue Practitioner Licence.
• declare that you understand the conditions under which this Business Rescue Practitioner is issued and commit to using it in an ethical manner.
• declare that you have read the SAIBA Guide for Business Rescue Practitioners to register with CIPC.
• declare that I will familiarize myself with all legislative and other requirements related to Business Rescue practices
• declare that you understand you are required to serve a period of candidacy under an experienced Business Rescue Practitioner.

Business Rescue Practitioner Part II – Available from 31 May 2020 (or sooner)

INTRODUCTION AND DEFINITIONS

• Options Available For Companies With Financial Problems
• Concept Of Business Rescue And Applicable Definitions

GROUNDS FOR COMMENCEMENT OF BUSINESS RESCUE PROCEEDINGS

• Requirements For Commencing Business Rescue
• Financial Distress
• Reasonable Prospect Of Rescue

COMMENCEMENT BY BOARD RESOLUTION

• Procedures
• Setting Aside The Resolution Or Appointment Of The Business Rescue Practitioner (BRP)
• Requiring Security From The BRP

COMMENCEMENT BY ORDER OF COURT

• Application By Affected Person
• The Order Commencing Business Rescue Proceedings

LEGAL CONSEQUENCES OF BUSINESS RESCUE PROCEEDINGS: MORATORIUM AND PROTECTION OF PROPERTY INTERESTS

• General Moratorium On Civil Legal Proceedings
• Protection Of Company Assets

LEGAL CONSEQUENCES OF BUSINESS RESCUE PROCEEDINGS: EFFECTS ON EMPLOYMENT AND OTHER CONTRACTS

• Employment Contracts And Employees
• Uncompleted Contracts

POST COMMENCEMENT FINANCE AND RANKING OF CLAIMS

• Post-Commencement Finance

EFFECTS ON SHAREHOLDERS, DIRECTORS AND CREDITORS

• Shareholders
• Directors
• Creditors

THE BUSINESS RESCUE PRACTITIONER: QUALIFICATIONS AND APPOINTMENT

• Appointment
• Qualifications
• Membership Of Accredited Profession Or Licenced To Act
• Not Subject To Order Of Probation
• Not Disqualified From Acting As The Company Director
• No Compromising Relationship With Company
• Not Related To A Person With A Compromising Relationship
• Removal And Replacement

BRP: POWER, DUTIES, AND LIABILITIES

• Powers, Duties And Liabilities Of The Business Rescue Practitioner
• Remuneration

THE BUSINESS RESCUE PLAN: CONTENT AND PUBLICATION

• Introduction
• Prescribed Contents
• Publication Of The Plan

THE BUSINESS RESCUE PLAN: APPROVAL AND REJECTION

• Meeting To Consider The Business Rescue Plan
• Effect Of The Approval Of The Plan
• Effect Of The Rejection Of The Plan

TERMINATION OF BUSINESS RESCUE PROCEEDINGS

• Three Month Deadline
• Conversion To Liquidation Proceedings
• Application To Court

COMPROMISE BETWEEN COMPANY AND ITS CREDITORS

• What Is A Compromise
• Information To Accompany A Proposal Of Compromise
• Additional Requirements

Requirements 

• Members must hold a Business Accountant in Practice (BAP) (SA) designation.  
• BAP(SA) must be in good standing.
• BAP(SA) must be up to date with CPD.
• Moderate level.

Description 

As a Business Accountant in Practice (SA) you have an obligation to act with the necessary care, skill and diligence expected of an accounting professional. 

Based on your membership with SAIBA and your BAP(SA) designation you received a licence from the CIPC and SAQA that allows you to provide the services of an Independent Accounting Professional and Accounting Officer to the general public.

This licence is provided exclusively to you because you have committed to always act professionally and in a manner that protects the public. 

SAIBA is your professional body and must provide annual reports to CIPC and SAQA on how we monitor your commitment to professional conduct. The way we collect information for our report is through the SAIBA Annual Business Rescue Practitioner License. 

Considering recent developments regarding Covid-19 restrictions, SAIBA has split its Business Rescue Practitioner License requirements into two parts.

Part I of the Business Rescue Practitioner License requires that the member declares their compliance with all Business Rescue Practitioner License requirements and is issued a Business Rescue Practitioner License.

• You will receive a Business Rescue Practitioner License certificate after completing Part 1. This does not allocate any CPD hours.

Part II requires the member to complete the Business Rescue Practitioner License assessment designed to refresh their specialist knowledge across key areas within 6 months of having received their Business Rescue Practitioner License.

• You will receive an additional Business Rescue Practitioner License certificate after completing Part 1. This will confirm the CPD hours obtained.

Date

The course is available on the following dates:

• Part 1: Immediately
• Part 2: From 31 May 2020

Who should attend?

This license is appropriate for:

• Business Accountants in Practice (SA)

Presenter

No presenters are provided as this is a self-study course.

Additional material

By attending this course, you will be provided with:  

• Assessments  
• Reference documents and/or course material where available  

Price           

The following pricing applies:

Part I is your declaration and Part II your workshops and assessment.

• R2500
• * + R500 fee to register at CIPC – for your own cost

Option 1: Declaration, Workshops and Exam (Part I and II).

• Declaration, workshops and exam fee R2,500.00.
• Subject to an annual renewal fee to be confirmed.
• Workshops
• Links to third party reading material and resources.
• Online exam.

Option 2: UNISA Certificate course and exam.

• Course fee to be confirmed.
• Links to third party reading material and resources.
• Online course material and/or webinars.
• Online exam.

Declaration

Declaration and Statement of AuthenticityI confirm that all work and answers are my own.

I confirm that should I be found guilty of contravening the assessment rules, I will be liable to a fine of R 10 000.00

I authorise SAIBA to use and verify my computer IP address to confirm my identity.

I agree and acknowledge:

1. I have read and understood the Declaration and Statement of Authenticity above.

2. I accept that use of my account to electronically submit this assessment constitutes my agreement to the Declaration and Statement of Authenticity.

Sorry, only enrolled users are allowed to make choices.

Course Material

Business Rescue Articles

Click http://www.tma-sa.com/info-centre.html link to open resource.

CIPC: Business Rescue

Click http://www.cipc.co.za/index.php/publications/business-rescue/ link to open resource.

Insolvency, Business Rescue & Restructuring

Click https://www.werksmans.com/practices/insolvency-business-rescue-restructuring/ link to open resource.