The revised Code has been approved by the Joint Insolvency Committee and the Insolvency Practioners Association (IPA), and ICAEW and ICAS as the recognised professional bodies (RPBs).

The main revisions relate to:

• professional behaviour;

• role and mindset; and

• technology.

The revised Code clarifies how IPs should behave as professionals, and the context in which they would be considered to be acting in their professional lives, as opposed to their private lives.

The test for assessing the seriousness of any poor conduct is that which a ‘reasonable and informed third party’ would conclude brings discredit to the profession.

A new paragraph has been introduced to clarify those expectations. The concept of a ‘reasonable and informed third party’ already features elsewhere in the Code but to clarify the expectations of an IP’s personal conduct, the revised paragraph 2105.1 A2 now reads:

‘A