Please note that the information on this page is provisional until the certification programme has been officially established
At least 50% of the members of the Standards Subcommittee will be TMA-SA members, and will comply with the criteria in the column on the left.
Ideally, no term limits are imposed on members of the Standards Subcommittee. Members’ tenure is designed to be lengthy so that the history of the program and the institutional knowledge obtained remains with the committee. The committee should be populated with professionals similar to the Certification Governance Board, however the number of members required is determined by TMA-SA.
All turnaround practitioners and advisors serving on any subcommittee shall strive to hold the Certified Turnaround Professional qualification (“CTP”).
Difference between the Standards Subcommittee and the Certification Governance Board it forms part of
The Standards Subcommittee is the group that actually reviews the candidate portfolios to make sure that all standards for certification are being met. The members of the Standards Subcommittee receive the candidate portfolios monthly, on the first business day of the month, and conference to discuss each applicant’s file. They verify degree requirements, contact professional references and client confirmations, make the ultimate decision as to if a person qualifies, and they provide feedback to the candidates who fall short. They also receive and explore any comments they receive about candidates during the public comment phase. This is a working group, and their conversations and the information they receive about each candidate remains confidential. They update the CGB regularly on the number of certified members, and if there are any disciplinary measures the CGB needs to be informed.
Functions of the Standards Subcommittee
- Reviewing, approving, rejecting or deferring the applications of all applicants for certification, and reviewing inquiries and appeals regarding certification, in accordance with such rules and regulations relating to granting and maintaining certification as the CGB may adopt.
- Establishing and maintaining ethical and other professional standards for certified turnaround professional.
- Investigating confidentially any allegation that a certified turnaround professional has violated the standards so established.
- Implementing confidentially appropriate disciplinary measures against turnaround professionals found to have violated those standards.