Benefits of certification for turnaround professionals
Certification provides evidence of attributes that will enhance a turnaround professional's credibility and ability to operate successfully:
- It provides evidence of an individual’s commitment to the turnaround industry.
- it attests to a level of expertise that non-certified professionals may find difficult to prove.
- It attests to verified qualifications and experience, and where applicable, that the Turnaround Certification Governance Board's three exams in turnaround management, law (including Chapter 6) and turnaround-related finance/accounting were successfully passed.
- Interim qualifications for persons to be appointed as business rescue practitioners in terms of Chapter 6 of the Companies Act No. 71 of 2008 are specified in Regulation 126 of the Companies Regulations, 2011: Accreditation of professions and licensing of business rescue practitioners. Professionals admitted to be business rescue practitioners will increase their ability to receive appointments if certified as Certified Turnaround Professionals.
Further reasons to pursue the Certified Turnaround Professional qualification
If you are a service provider (turnaround practitioner or consultant, business rescue practitioner, attorney, accountant, financial advisor, etc.), corporate turnaround or interim manager, lender workout or restructuring executive at a bank or Development Fund Institution or in investor e.g. private equity or institutional:
- Raise your knowledge of the managerial, legal and accounting/finance aspects of turnaround management to an accredited level.
- Demonstrate your commitment, competency and expertise in the turnaround industry.
- Distinguish yourself from your professional colleagues in terms of your knowledge and experience, and raise your stature in the turnaround industry to gain a competitive edge.
- Promote the professionalism of the turnaround and corporate renewal industry.
If you are a turnaround practitioner or consultant, business rescue practitioner, or corporate turnaround or interim manager:
- Increase your ability to be appointed by financially troubled companies or their investors.
- Increase your ability to be nominated by banks to help their troubled borrowers in informal creditor workouts.
- Increase your ability to be appointed by boards of distressed companies or by affected persons associated with distressed companies as a business rescue practitioner in terms of new business rescue legislation.
If you are an attorney, accountant or financial advisor:
- Increase your ability to be appointed by financially troubled companies.
- Increase your ability to be appointed by business rescue practitioner of, lenders to or investors in financially troubled companies.