If your firm holds an Insolvency Practising Certificate, you may be required to have your compliance independently assessed on an annual basis – a process known as an Insolvency Services Compliance Review . Moreover, you need to be prepared to face a possible insolvency services quality monitoring visit from your regulating institute. The timing of these visits is determined by a risk-based approach, centred on a range of factors such as the information supplied in your initial application for an Insolvency Practising Certificate, any subsequent annual returns and the results of any past monitoring visits. Thus, failing to provide adequate assurance of compliance on your annual return may see you being prioritised for a quality monitoring visit.