Please note that the information on this page is provisional until the certification programme has been officially established.
The Certified Turnaround Professional (CTP) qualification, introduced in the USA in 1993 and in Japan in 2005, and which is being planned in Australia, is earmarked for introduction in South Africa in 2010.
The Certified Turnaround Professional (CTP) qualification is an objective measure of the experience, knowledge, and integrity that is necessary to conduct corporate renewal work.
Additional qualifications are proposed to allow for entry level participation, and to allow for a sufficiently large number of business rescue practitioners to enable implementation of Chapter 6 of the Companies Act No. 71, 2008 by 1 July 2010.
For an overview of the certification flow diagram during and after the first two years after promulgation of the Companies Act, click on the thumbnails on the right.
Qualification |
Exams required |
Eligibility criteria in term of a qualifications and experience required |
| Certified Turnaround Professional (CTP) | CTP exam plus attendance course in directorship | CTP |
| Honourary Certified Turnaround Professional (HCTP) | Waived | CTP, plus lifelong contribution to turnaround; by invitation only |
| Certified Turnaround Professional - Designate (CTP-D) | CTP exam plus attendance course in directorship | CTP, but no experience required |
| Certified Turnaround Professional - Designate (CTP-D)(BR) | CTP exam | CTP, and experience required to be admitted to be a business rescue practitioner |
| Turnaround Professional Candidate Level 1 (TP-C1) | No exams, but attendance courses are required in directorship, turnaround, Chapter 6 business rescue, and finance/accounting | CTP |
| Turnaround Professional Candidate Level 2 (TP-C2) | TP-C (less stringent than a CTP, but prescribed TP-C experience required) | |
| Associate Turnaround Professional (ATP) | ATP exam (entry level compared to the CTP exams) | ATP (less stringent than CTP) |
| Associate Turnaround Professional - Designate (ATP) | ATP exam (entry level compared to the CTP exams | ATP, but no experience required |
The Rules and Regulations compel all certified members irrespective of qualification to disclose to prospective clients the nature of their certification qualification, including the educational, experiential and exam status of the member, as well as experience gained after 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:
The Turnaround Governance Board and TMA-SA endorse the principles of equal opportunity.
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.