IIIPI makes peer review mandatory for members handling high number of insolvency cases

The Indian Institute of Insolvency Professionals of ICAI (IIIPI) on Friday said it has decided to make peer review' mandatory for its members who are undertaking a high number of Corporate Insolvency Resolution Process (CIRP) and liquidation assignments under the insolvency law.

The peer review requirement will be voluntary for other members of the institute.

In a release, IIIPI said the peer review framework aims at benchmarking the professional services under review to help improving performance, decision making, adoption of best practices and standards with respect to assignments under the Insolvency and Bankruptcy Code (IBC).

IIIPI had launched the peer review mechanism in July 2022.

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