Course and Examination Content - Parts 1, 2 & 3

The CIRA course of study is divided into three intermediate level 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, a participant may register for any part in any order. 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 will be provided upon registration.

In-person courses consists of two 8-hour sessions with two 30 minute breaks and a lunch. Online course sessions are held over four 4-hour sessions or three 5.5 hour sessions. Exams are conducted online and are available after the conclusion of the final session over a range of dates called an exam block. During the exam block a participant may access the exam questions online at their convenience. The exam is timed at 4-hours, and once the questions are accessed online, the uninterruptible timer will begin.

Overview of Objectives

Through successful completion of the three-part course of study and examination (see detail for Course and Examination Parts 1-3 below), candidates will achieve and demonstrate the proficiency necessary to:

Part 1:
Managing Turnaround and Bankruptcy Cases
Part 2:
Plan Development
Part 3:
Financial Reporting, Taxes, & Ethics
  • Financial statement analysis of troubled companies

  • Causes of business failures

  • Profitability Improvements Including outsourcing

  • Turnarounds and workouts

  • Stages of turnaround process

  • Operational/strategic issues

  • Dealing with creditors and their committees

  • Pre-bankruptcy planning

  • Managing bankruptcy cases

  • Special investigations including preferences and fraudulent transfers

  • Valuation Analysis (going concern and liquidation)

  • Financing the turnaround and the plan

  • Establishment of classes and interests

  • Negotiation of the terms of the plan

  • Tax impact of plans

  • Disclosure statement

  • Chapter 11 plans and out of court plans

  • Conversion to chapter 7 and liquidation plans

  • Retention of financial advisors and fees

  • Financial reporting during

  • Accounting for the reorganization

  • Financial reporting on emergence from Chapter 11

  • Accountants' reports and application of litigation services guidelines

  • Responsibilities of accountants

  • Tax considerations


Course Refunds & Cancellation Policy

A full refund minus a $285 service fee will be made for courses that are cancelled with at least 10 business days’ written notice. Refund requests for registrations cancelled with less than 10 business days’ written notice will be processed minus an additional $150 late cancellation service fee. Refunds are not available for in-progress courses. To request a cancellation please email us at .

Course Transfer Policy

Registrants may request to transfer their course registration to another available course with at least 5 business days written notice. Transfer requests with less than 5 business days’ written notice will require a $150 service fee to be paid prior to the transfer of the course. Transfers are not available for in-progress courses. To request a transfer please email us at .

CPE Credit for CIRA Courses

Twenty CPE credits are available for each part of the course of study, Parts 1, 2 and 3. Total CPE is based on attendance and, in addition for online classes, completed polling questions.

Retaking or Rescheduling an Examination

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.

Additional Information

For detailed standards and requirements as determined by the AIRA Board of Directors, see AIRA Bylaws, Article VII

National Registry of CPE Sponsors

Association of Insolvency & Restructuring Advisors (AIRA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of Continuing Professional Education (CPE) for group training on the National Registry of CPE Sponsors.

NASBA CPE Credits are made available and awarded for AIRA group training that complies with the Statement on Standards for CPE Programs. In accordance with these Standards, relevant group training details are disclosed to learners in advance via email invitations, registration websites, or other similar advance announcements.

AIRA’s CPE Sponsor ID Numbers:

  • NASBA National Registry: 103243
  • Texas State Board of Public Accountancy: 003242

Complaints regarding NASBA National Registry CPE Sponsors may be submitted to NASBA via their website, State boards of accountancy have final authority on the acceptance of CPE Credits for Certified Public Accountants (CPAs).

Financial Aid Policy

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

Question Resolution

For assistance regarding refunds, program cancellations, or other program related matters, please contact our offices at (541) 858-1665 or by email