Worrells Solvency Management Rates
As the Insolvency Practitioners Association of Australia stopped providing a recommended scale of professional fees in 1999, Worrells have developed its own scale of fees, our Solvency Management Rates.
Our fee structure reduces the number of levels of staff from 14 to 7. In addition to hourly rates, efficiency and the matching of tasks to the appropriate level of staff is critical to meeting our clients' needs. Additionally, our time costs are calculated on a minute-by-minute basis, eliminating the unnecessary billing of time.
All rates are displayed inclusive of GST and are current from 1 July 2008
| Staff Levels | Brisbane | Gold Coast | Sunshine Coast | Sydney | Melbourne |
|---|---|---|---|---|---|
| Partners and Consultants | $450.00 | $450.00 | $450.00 | $485.00 | $485.00 |
| Managers | $380.00 | $380.00 | $380.00 | $410.00 | $410.00 |
| Supervisors | $280.00 | $280.00 | $280.00 | $310.00 | $310.00 |
| Senior File Accountants | $210.00 | $210.00 | $210.00 | $250.00 | $250.00 |
| File Accountants | $170.00 | $170.00 | $170.00 | $185.00 | $185.00 |
| Financial Assistants | $130.00 | $130.00 | $130.00 | $150.00 | $150.00 |
| Support Staff | $60.00 | $60.00 | $60.00 | $70.00 | $70.00 |
Description of Staff Levels
Financial Assistants
Non-Qualified Accountants with bookkeeping experience.
File Accountants
Undergraduates or graduates with no or limited previous experience in insolvency or other relevant business areas.
Senior File Accountants
Graduates with at least 12 months insolvency experience, who are undertaking ICAA or CPA studies and who demonstrate very sound knowledge and application of insolvency principles and the Worrells systems.
Supervisors
Staff members who are responsible for the supervision and training of one or more File Accountants and able to control most aspects of a standard file. They will have about 36 months of insolvency experience and be in the final phase of their ICAA or CPA studies.
Managers
Staff members who are undertaking the IPAA or other appropriate course, have full control of all but the largest or most complex files, and report directly to the relevant Partner. They are responsible for controlling, motivating and training a production team. They have sound knowledge of the Worrells systems and insolvency law, good communication skills, and hold or can apply for their Registered Trustee and Liquidator ticket.
Last Updated: 1.7.2008