Certification
The Certified Turnaround Professional (CTP) designation was introduced in 1993 to provide training and create an objective measure of the experience, knowledge, and integrity that is necessary to conduct corporate renewal work.
A syllabus of material, referred to as the Body of Knowledge (BOK), was developed, outlining concepts that all professionals practicing corporate renewal should master. The BOK includes comprehensive educational material in management and operations, accounting and finance, and law. Review courses and examinations are offered on these topics.
In 2005, the technical proficiency and experience standards were expanded to provide broader access to this valuable CTP program and include a wider range of restructuring professionals who comprise a turnaround team. Review courses and materials outside the examination process are available to any individual interested in expanding his or her knowledge and skills in turnarounds and to companies wanting to offer continuing education to their professionals.
Applicants for certification must meet certain standards of education, experience, and professional conduct developed and administered by the program's Standards Committee. In addition, the Standards Committee, along with the faculty, is responsible for defining the requirements of continuing education and recertification. Members of the standards committee include senior practitioners, lawyers, accountants, and lenders who are committed to excellence in this field.
Certification requires passing a three-part examination. Management, law, and finance/accounting sections test relevant theory and practice involving workouts, insolvency, and troubled enterprises. Certification is available to all qualified professionals. Although the examination may be taken prior to completion of all requirements, all standards must be met prior to certification.
For more information about the certification program, contact Nicole Gibby, Manager of Certification, at 1-312-242-6034.