Certified Insolvency and Restruct. Advisor (CIRA) CPE Requirements

How to reach the regulator directly.

Association of Insolvency and Restructuring Advisors (AIRA)
221 Stewart Avenue, Suite 207
Medford, OR 97501

Tel: (541) 858-1665
Fax: (541) 858-9187

Email: aira@aira.org

The regulator's own published rules and related resources.

Association of Insolvency and Restructuring Advisors (CIRA certification)

The total continuing education hours required.

60 hours.

The detailed rules behind that total -- category minimums, ethics, and other conditions.

To maintain active certification status, CIRAs must submit the CPE Reporting Form showing completion of 60 CPE credits for each 3 year period beginning January 1 of the year after the certificate date. The minimum of 60 credits is comprised of two categories as described below.

20 "Directly-Related" CPE Credits from AIRA per Reporting Period

Effective November 18, 2010 and Updated February 20, 2014: During each 3-year reporting period at least 20 CPE credits must be received from AIRA programs specifically relating to bankruptcy and reorganization practice. All AIRA conferences, conferences co-sponsored by AIRA, webinars and other courses offered by AIRA, including CDBV courses, satisfy this requirement.

• Note: Confirmed attendance at all sessions of AIRA's Annual Advanced Bankruptcy & Restructuring Conference can fulfill the 20 Directly-Related CPE Credits requirement.
• These changes are effective for three-year periods ending December 31, 2012.
• New CPE Reporting Forms reflecting these requirements are available on the AIRA website.

Directly-Related CPE Credit from Other Providers: If a CIRA is unable to meet the 20 Directly-Related CPE Credit requirement by attending AIRA's conferences or courses, CPE credit from other providers, if directly related to business turnaround, restructuring and bankruptcy, may be substituted.

Up to 40 "General" CPE Credits per Reporting Period

Effective November 18, 2010 and Updated February 20, 2014: For each 3-year reporting period, after reporting completion of at least 20 Directly-Related CPE credits, the balance of up to 40 credits out of the 60 credit total may be fulfilled by courses of a general nature as long as they provide knowledge that is useful to business turnaround, restructuring and bankruptcy practice.

Prior to November 18, 2010: For 3-year periods ending December 31, 2011 and earlier, 60 hours of CPE credit directly related to business turnaround, bankruptcy and restructuring are required for the 3-year period.

Prior to January 1, 2012: At least 20 of the total 60 hours must be from non-employer related educational courses/programs. "Employer-related" education is considered employer-sponsored CPE. All other CPE is considered non-employer related.

• NOTE: CeriFi has confirmed that the rule requiring that "at least 20 of the total 60 hours must be from non-employer related educational courses/programs" was removed from CIRA CPE requirements for the period ending in 2012 and beyond.

How the reporting cycle is structured.

Triennial.

When a reporting cycle begins.

January 1.

How completed credits are reported to the regulator.

Certificate holders must report the CPE courses they have attended using "CPE Requirements and Form" (available on the AIRA website).

Participants must maintain their own records showing evidence of attendance.

The renewal or reporting deadline.

December 31.

→ Get monthly reminders before this deadline

Reduced or prorated requirements for a first renewal.

An individual's initial compliance period does not begin until January 1st of the year following the year in which the individual successfully completed all the certification requirements. Any credits received between the certification date and the following January 1st date do not apply towards the CIRA CPE requirements.

Who may be excused from all or part of this requirement.

Inactive Status:

If you fail to meet the CIRA Requirements you will be notified your certification has become inactive. Inactive Status means the practitioner will not in any manner be permitted to represent him/herself as a CIRA. Once Suspended you must discontinue using your CIRA designation and your name will no longer be included in the AIRA online CIRA directory. You will be granted a grace period of six months to obtain the required credits and file a new reporting form indicating compliance and pay any outstanding dues. Upon receipt and review of the reported CPE and any required dues payments the individual’s status as a CIRA shall be reinstated. A confirmation letter of reactive status will be sent, whereby you may resume using your CIRA designation.

Failure to correct CPE delinquency or pay outstanding dues within the six (6) month grace period will result in the deactivation of the certification subject to reinstatement only as set forth in the following section.

If there is 'reasonable cause' for the inability of a CIRA to obtain the required CPE credits and keep current on dues, the CIRA may provide a written explanation for consideration. "Reasonable Cause" may include circumstances such as serious and prolonged illness, active military service, family medical leave, maternity leave, etc.

Reinstatement:

A CIRA whose certification has become 'inactive' may avoid re-applying as a candidate, and retaking all three examinations, only if application for reinstatement is made within five (5) years from the date of deactivation. Reinstatement applications shall be accompanied by a statement describing the applicant's experience subsequent to the time the certificate was deactivated. A reinstatement fee and the standard annual fee must accompany the reinstatement application.

The deficit of credit hours due at the time of deactivation must be fulfilled in the year of reinstatement. These credits cannot be applied to the new three year reporting period.

If more than five (5) years following the deactivation of a CIRA designation have lapsed, the former CIRA must re-apply as a new candidate and will be subject to the same requirements for attaining the initial CIRA certification. This includes passing all three examinations as well as completing new application materials.

Whether unused credits can apply to the next period.

Not permitted.

→ CE Tracking calculates carryover for you

Rule changes the regulator has finalized, with effective dates.

Refer to the specific sections above for more details on any of the items noted below.

Breakdown of Specific Requirements:

February 20, 2014: The CPE rule language for CIRAs has been slightly modified. The CPE requirements remain essentially unchanged from 2012.

• NOTE: CeriFi has confirmed that the rule requiring that "at least 20 of the total 60 hours must be from non-employer related educational courses/programs" was removed from CIRA CPE requirements for periods ending in 2012 and beyond.

General Characteristics of Accredited Education:

20-Hour AIRA / "Directly Related" Requirement: Effective November 18, 2010: At least 20 hours of CPE credits from courses specifically relating to the bankruptcy and reorganization practice and offered by AIRA must be completed. All AIRA conferences, conferences cosponsored by AIRA, Webinars, and other AIRA courses including courses in the CDBV program will satisfy this requirement. If a CIRA is unable to attend AIRA's annual conferences or other AIRA conferences or seminars, other conferences or courses focusing directly on business turnaround, restructuring and bankruptcy may be substituted.

• This change is effective for three-year periods ending December 31, 2012 (may be implemented earlier if desired).
• New CPE Reporting Forms reflecting these requirements will be available on the AIRA website.
• Attendance at all sessions of one of AIRA's annual conferences will satisfy the 20-hour, directly related requirement.

40-Hour "Other Non-AIRA Courses" Requirement: Effective November 18, 2010: The balance of 40 hours of CPE credit to fulfill the 60-hour total requirement for each 3-year reporting period may consist of CPE credits related to bankruptcy and reorganization practice or credits of a general nature as long as they provide knowledge that will be helpful/useful to business turnaround, restructuring and bankruptcy practice.

Credit for Writing:

Effective November 18, 2010: CIRA's who submit an article that is accepted for publication in the AIRA Journal will be granted three (3) hours of credit for each page of the article.