Although the bankruptcy trustee must possess strong knowledge in accounting, his work is broader than simply adding columns of figures. To excel in this profession, you must use several skills that include knowledge of personal finance, budgeting techniques, credit, civil, of the Bankruptcy and Insolvency Act and even psychology and the empathy.
The reality is that the trustee meeting every day people in distress. These people live financial problems, but sometimes personal problems: separation, abuse issues or games, illness, job loss, etc. It is not uncommon for a trustee to meet a person who trusts on its financial problems for the first time and passing through a host of emotions. In these cases, the trustee must redouble empathy and professionalism.
Thus, people venturing into the field of accounting, but wish to work directly with people in a helping relationship, while using their professional knowledge will be interested in the trustee profession. This profession is particularly nourishing because the trustee can actually observe the positive changes that are providing work in the life of a person in debt.
The liquidator’s studies
Look no, no university programs that provide the necessary training to become a trustee. To exercise this profession, a person must hold a license from the Office of the Superintendent of Bankruptcy (an entity under the federal government is in charge of administering the Bankruptcy and Insolvency Act).
To obtain a trustee license, the applicant must complete the official qualification process to become a CIRP (Chartered Professional Insolvency and Restructuring) offered by CAIPR (the Canadian Association of Insolvency Practitioners and reorganization). The success of this course is checked by a national oral examination before a committee of trustees of experience.
Before obtaining the full right to practice, the applicant must also have completed the qualification course for insolvency advisors in addition to accumulate a minimum of 2400 hours of practical experience during training. These hours are usually accumulated by working as a counselor or insolvency trustee trainee in a firm of trustees.
The trustees studies may seem long and arduous, but lead to a rewarding career in a growing field. Whether you are a student in accounting or accounting experience, the field of insolvency annually hosts hundreds of professionals who want a new career path.
