The CIRA course of study and examination is divided into three parts. Candidates may register for one or more parts in any location or series of courses that are offered. It is recommended that Part 1 be taken before Part 2; however, Part 3 may be taken before the other parts. Each part consists of a 16 hour review and a three hour exam. In-person sessions are held over two and a half consecutive days comprising two days of review and the three hour exam on the third half day. On-line review sessions are conducted over 4 four-hour sessions generally spread over two weeks. The exam is scheduled thereafter. The course level is intermediate. Each of the three parts involves advance preparation of at least 10-15 hours reading and studying the course materials and answering review questions. A link with the course materials is provided upon registration.
The CIRA course of study is comprehensive and advanced. Through successful completion of the three-part course of study and uniform written examination (see detail for Course and Examination Parts 1-3 below), candidates will achieve and demonstrate the proficiency necessary to:
Render professional services for debtors, trustees, creditors' committees, individual creditors or equity holders, and other interested parties in Chapter 11 bankruptcy proceedings and out of court workouts
Apply provisions in the Bankruptcy Code relevant to financial services performed
Categorize business failures according underlying causes and relate these to recommended courses of action
Identify and take action for preferences and fraudulent transfer recovery
Prepare necessary financial information to be included in Chapter 11 and out of court plans
Prepare applications for retention and petitions for fee allowance required in bankruptcy proceedings * Prepare financial statements according to provisions of SOP 90-7
File operating reports required by the U.S. Trustee's office
Identify tax issues that should be addressed in chapter 11 proceedings and out of court workouts
Managing Turnaround and Bankruptcy Cases
Financial Reporting, Taxes, & Ethics
A full refund or credit will be made for parts that are cancelled 10 business days before the part begins. For parts cancelled with less than 10 business days notice a $100 service charge per part will apply. For parts cancelled with 3 or less business days notice, a $150 service charge per part will apply.
Twenty CPE credits are available for each part of the course of study, Parts 1, 2 and 3.
If an applicant fails to pass an examination, it may be retaken with another section of the course and examination for $250, or separately, without the course, for $125. The fee for any rescheduled exams is $125.
For detailed standards and requirements as determined by the AIRA Board of Directors, see AIRA Bylaws, Article VII
"Association of Insolvency and Restructuring Advisors" is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
AIRA’s financial aid policy has been established for CIRAs, CPAs, attorneys and others who wish to attend AIRA’s courses for CPE or CLE credit or pay renewal notices to keep their AIRA membership current but who are unable to do so because of cost considerations. Please see the Financial Aid Policy
For assistance regarding refunds, program cancellations, or other program related matters, please contact our offices at (541) 858-1665 or by email firstname.lastname@example.org.