Turnaround Professional Certification
The Certified Turnaround Professional (CTP) credential was designed in the USA to encourage professional excellence, provide an objective measure and recognition of expertise, and provide evidence of an individual’s commitment to the turnaround and corporate renewal industry.
To this end, TMA-SA has commenced with activities to launch the Certified Turnaround Professional programme in South Africa under license from TMA, and in partnership with Continued Education at the University of Pretoria. The expected implementation date is 2015.
Outside of the USA, Japan has already implemented the programme. Australia, like South Africa, is in the process of doing so. More countries are expected to implement turnaround certification to meet the needs of business rescue legislation.
Who are eligible for certification?
In short, the answer is turnaround professionals from all disciplines that have passed the prescribed exams, in possession of a prescribed qualification, and with appropriate experience in their fields of the turnaround of companies suffering financial distress or in a financial crisis, including:
- Corporate turnaround managers and interim turnaround managers.
- Service providers to troubled companies and their financiers:
- Turnaround practitioners and consultants.
- Business rescue practitioners admitted as such under Chapter 6 of the Companies Act No. 71 of 2008.
- Advisors including attorneys, accountants and financial advisors.
- Business rescue practitioners in terms of Chapter 6 of the (future) Companies Act.
- Financiers of troubled companies:
- Workout / restructuring executives of lenders e.g. banks and Development Fund Institutions.
- Investment executives of institutional investors, venture capital and private equity investors, Development Fund Institutions, etc.
Eligibility criteria for examination and certification under the certification programme are applied equally to all applicants, regardless of age, race, colour, religion, gender, sexual orientation, gender identity, ancestry, national or ethnic origin, or disability.
Participation in the certification programmes is voluntary and open to anyone meeting the eligibility requirements.