The Honourary Certified Turnaround Professional (CTP)
Please note that the information on this page is provisional until the certification programme has been officially established
To become a Honourary Certified Turnaround Professional (H-CTP), a lifelong contribution to the turnaround industry is required.
The H-CTP is by invitation of the Turnaround Certification Governance Board only, and invitations will be extended every 5 years only.
Minimum requirements are the same as for a CTP but the exam requirement is waived.
- A bachelor’s degree from an accredited university or at least ten (10) years of experience in executive or senior management, interim management, consulting, loan workout/restructuring, or in the legal or accounting professions or as a business rescue practitioner.
- A minimum of five (5) years of experience as listed above, three (3) years of which must be fulltime in turnaround, two (2) years of which must be fulltime with regard to companies suffering financial distress or in a financial crisis.
- The written CTP examinations in management, law and finance/accounting are waived, but must purchase and study the CTP exam coursework.
- Further requirements are:
- By invitation of the Standards Subcommittee only.
- Over the age of 55.
- Substantial contribution to the turnaround industry in terms of leadership, promotion and education.
- Attended a course in directorship approved by the Standards Subcommittee.
- After certification, complete at least 50 hours of continuing professional education during each two-year period, including two hours of ethics credit (see Certification maintenance).
- Reveal any pending disciplinary action or prior public discipline, any criminal conviction, any malpractice judgment or admission of malpractice and any refusal, denial or revocation of a license to practice or certification by another professional body.
- Not subject to an order of probation in terms of Section 162(7) of the Companies Act.
- Would not be disqualified from acting as a director of the company under supervision in terms of Section 69(8) of the Companies Act.
- Agree to support and adhere to the Code of Ethics of the Turnaround Management Association.
- Payment of all required fees.