Can I apply for membership if I do not hold the CTA qualification?
Passing the exams and being awarded CTA is a pre-requisite for applying for Associateship or Membership.
How do I decide who should be a case study Referee?
This will depend on your role on the assignment. Typically it will be the company Chairman, CEO or owner of the business. If this is not possible, then perhaps you could choose a professional or venture capital investor and/or specialist banker. It should be someone who has first-hand knowledge formed over time of your role, activities and contribution in relation to the turnaround assignment.
How do I choose my Sponsors?
Sponsors are more than character referees. We are looking for two people who are preferably professionally qualified and who have known you for a reasonable portion of your professional life, including your time in turnaround. They must know and understand what you do. It is preferable if they have worked with you. They must be independent of you and consider you a suitable person to join EACTP.
My Sponsor appears to meet your criteria but is unlikely to be known to EACTP. Is this acceptable?
If this is the case we must be able to independently verify the standing of the Sponsor. In many instances this is straightforward e.g. a director of a quoted company, a partner in a reputable professional practice, a banker or an institutional investor so long as they are familiar with your turnaround activities. In other circumstances it can prove more difficult. As each case is unique please discuss this initially with the EACTP Executive and then with your interviewers to ensure the process can progress smoothly.
Other than Sponsors and Referees, do you undertake any further checks?
We will acquire a list of directorships, past and present, search the disqualified directors’ register and check professional memberships. We reserve the right to undertake further checks if we feel it appropriate.
What do you mean by ‘significant and substantial contributions’ to a turnaround assignment?
‘Significant’ refers to your knowledge and experience and how it contributed to the outcome of the turnaround, essentially this relates to your involvement in planning the turnaround. ‘Substantial’ refers to your actual involvement in implementing the turnaround plan and how you dealt with stakeholders and issues as they arose. We want to see turnaround assignments usually covering a number of months or longer - usually at least six months. We recognise that members and prospective members do other work from time to time that is both valuable and satisfying but does not have the turnaround elements we require. Ideally the case study assignments should have had a satisfactory outcome for stakeholders. When this is not the case we need to be satisfied that real added value was displayed during the assignment.
One of my turnarounds was with a subsidiary/division of a larger business. Is this acceptable?
Provided the assignment allowed you to actively employ the skills and attributes that we look for in our members, then such a turnaround would be considered.
One of my turnaround case studies was undertaken some years ago. Would this be acceptable?
All case studies must be within the past ten years with at least one being less than three years old.
What if I am unable to use the case study name?
If for reasons of confidentiality the case name may not be disclosed you may use the code or project name but we will still require a Referee.