Association of Insolvency & Restructuring Advisors

What Association of Insolvency & Restructuring Advisors does

The Association of Insolvency & Restructuring Advisors (AIRA) is a U.S. nonprofit professional association headquartered at 1314 Center Drive, Suite B-132, Medford, Oregon. Founded in 1984, it serves accountants, financial advisors, investment bankers, attorneys, workout consultants, trustees, and other professionals engaged in corporate bankruptcy, restructuring, and turnaround advisory. AIRA's mission is to unite and support this specialized practitioner community through certification, continuing education, standards, publications, and live events.

AIRA's core offerings are two professional certification programs: the Certified Insolvency and Restructuring Advisor (CIRA) program, launched in 1992, and the Certification in Distressed Business Valuation (CDBV) program, launched in 2004. Each program is a multi-part course of study and examination; AIRA also publishes the quarterly AIRA Journal (now in Vol. 39, No. 1, 2026), provides CPE self-study resources registered with NASBA (Sponsor ID: 103243; Texas: 003242), and maintains the binding AIRA Standards for Distressed Business Valuation effective March 1, 2014. Operational technology is limited to the WebEx Meetings platform used for online course delivery; the organization has no proprietary software product, no AI/ML capability, and no API surface.

AIRA generates revenue through five streams: annual membership dues ($375 regular, $75 government/academic), per-part course and certification fees ($825–$995 regular, $275 government/academic), conference and event registrations (Annual Bankruptcy & Restructuring Conference, VALCON with ABI, Advanced Restructuring & POR Conference, regional events), Journal advertising, and event sponsorships (including the AlixPartner Awards). The organization distributes services primarily through direct online enrollment at aira.org, supplemented by live and virtual events. Distribution is extended to Puerto Rico through a regional chapter established in December 2014. Governance is provided by a Board of Directors led by Chairman Eric Danner, President Boris Steffen, and President-elect Scott Williams, with Jim Lukenda serving as Executive Director and Sue Cicerone as Controller.

Name

Association of Insolvency & Restructuring Advisors

Legal name

Association of Insolvency & Restructuring Advisors

Website

https://aira.org

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

The Association of Insolvency & Restructuring Advisors (AIRA) is a U.S. nonprofit professional association that issues the CIRA and CDBV certifications, publishes the AIRA Journal, and serves accountants, attorneys, financial advisors, and trustees working in bankruptcy, restructuring, and turnaround.

Ownership category

akta.pro rank

Product category

Professional Certification Services

NAICS

Offices of Certified Public Accountants (541211)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Insolvency, Restructuring & Bankruptcy Administration (BPAHABAL)

akta.pro secondary industries

Bankruptcy, Restructuring & Insolvency Law (BPAHAAAH), Restructuring & Turnaround Advisory (BPAHAOAC), Insolvency & Turnaround Advisory (SME/Mid-Market Debtor-Side) (FSAEAFAK)

Keywords

• Insolvency certification
• Restructuring advisory
• Professional association
• Distressed valuation
• Continuing education

Headquarters

HQ city

Medford

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Membership Dues: Annual membership dues provide recurring revenue. Regular membership is $375/year; Government/Academic/Service members pay $75/year. Certified members pay additional credential fees ($100 for CDBV, $150 for combined CIRA/CDBV).
2. Course and Certification Fees: Revenue from course registrations and examination fees. CIRA and CDBV courses range from $825-$995 per part. Exam retakes cost $125-$250. This is the primary revenue stream supporting the certification programs.
3. Conference and Event Revenue: The Annual Bankruptcy & Restructuring Conference, VALCON, Advanced Restructuring & POR Conference, and various luncheon programs generate revenue through registrations and attendee fees.
4. Journal Advertising: The AIRA Journal accepts paid advertising placements. Members and sponsors receive complimentary member news and press release announcements; additional advertising is subject to the Journal Advertising Rate Sheet.
5. Event Sponsorships: Corporate sponsorships provide recognition and visibility at AIRA events including the Annual Bankruptcy & Restructuring Conference, VALCON, and regional events.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

The Association of Insolvency & Restructuring Advisors (AIRA) is a nonprofit professional association that delivers the Certified Insolvency & Restructuring Advisor (CIRA) certification and the Certification in Distressed Business Valuation (CDBV), along with industry-recognized Standards for Distressed Business Valuation. It serves practicing insolvency and restructuring professionals through membership, conferences, peer-reviewed publications, and continuing professional education (CPE) resources.

Product overview

AIRA is a nonprofit professional association serving the bankruptcy, restructuring and turnaround practice area. Its core offerings include two professional certification programs: the CIRA (Certified Insolvency & Restructuring Advisor) program established in 1992, and the CDBV (Certification in Distressed Business Valuation) program launched in 2004. These certification programs are complemented by the AIRA Journal (quarterly publication), CPE resources for continuing education credits, and the AIRA Standards for Distressed Business Valuation. The organization also hosts the Annual Bankruptcy & Restructuring Conference, maintains a Career Bank job board, operates a Distinguished Fellows recognition program, and manages the AIRA Grant Newton Educational Endowment Fund. The Puerto Rico Chapter extends services regionally. Together, these products serve accountants, financial advisors, investment bankers, attorneys, workout consultants, trustees, and other professionals in corporate restructuring.

Differentiator

Problem solved

Functional benefit

Brands

• CIRA: Certified Insolvency & Restructuring Advisor program - certification recognizing professionals with high degree of knowledge in business turnaround, restructuring and bankruptcy practice areas.
• CDBV
• AIRA Journal
• AIRA Grant Newton Educational Endowment Fund

Products and services

• CIRA Certification Program Premier professional certification for CPAs, attorneys, financial advisors, and turnaround professionals working in insolvency and restructuring engagements.
• CDBV Certification Program Certification in Distressed Business Valuation credentialing program focused on valuing distressed and insolvent entities for use in restructuring and bankruptcy engagements.
• Annual Bankruptcy & Restructuring Conference Annual multi-day industry conference bringing together insolvency and restructuring practitioners for technical sessions, networking, and continuing professional education.
• AIRA Journal Peer-reviewed professional publication featuring technical articles, case studies, and industry commentary on insolvency, restructuring, and distressed business valuation.
• AIRA Standards for Distressed Business Valuation Industry-recognized body of professional standards governing the practice of valuing distressed, insolvent, and reorganizing businesses.
• CPE Resources Continuing professional education courses and self-study materials to help members satisfy CPE requirements and stay current on industry practice.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core, regional and minor.

• American Bankruptcy Institute (ABI)coreStrategic or Co-development PartnerCo-sponsorship of VALCON conference with ABI. VALCON is an annual restructuring conference held in Las Vegas, co-sponsored by AIRA and ABI, providing education and networking for restructuring professionals.
• National Association of State Boards of Accountancy (NASBA)coreGTM or Marketing PartnerAIRA is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA Sponsor ID: 103243. This enables AIRA to grant CPE credits for its training programs that comply with Statement on Standards for CPE Programs.
• Puerto Rico Society of CPAsregionalStrategic or Co-development PartnerSupported the establishment of the AIRA Puerto Rico Chapter in 2014, which provides CIRA review courses and examinations in San Juan. Dr. Grant Newton and Jose M Monge Robertín led this initiative.
• Bankruptcy IDEA ConsortiumminorStrategic or Co-development PartnerAIRA is a member of the Bankruptcy IDEA Consortium, an initiative related to bankruptcy education and standards.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• American Institute of Certified Public Accountants (AICPA): AICPA is the largest professional association for CPAs in the United States, offering its own credentials (CFF, ABV, CVA) and continuing education — overlapping with AIRA in serving accountants and providing CPE credits, though operating across all practice areas rather than specializing in insolvency/restructuring.
• CFA Institute: CFA Institute is the global professional body awarding the Chartered Financial Analyst designation, providing credentialing, ethics standards, and continuing education for investment professionals — overlapping with AIRA's audience of investment bankers, financial advisors, and turnaround practitioners entering distressed opportunities.

Direct peers

• American Bankruptcy Institute (ABI): ABI is the leading multi-disciplinary insolvency membership organization for attorneys, judges, bankers, and turnaround professionals, and is AIRA's co-sponsor of the annual VALCON conference, making its core audience, certification programs, and educational offerings highly comparable to AIRA's.
• American Society of Appraisers (ASA): ASA is a premier international valuation professional organization offering credentials and education in business valuation, machinery/equipment, and real estate — overlapping with AIRA's CDBV program in certifying professionals who value distressed and bankrupt businesses.
• National Association of Certified Valuators and Analysts (NACVA): NACVA is the leading US organization dedicated to business valuation, financial forensics, and litigation consulting professionals, offering the CVA credential and CTLA — directly comparable to AIRA's CDBV in certifying professionals who value distressed businesses and providing CPE for valuation practitioners.
• Risk Management Association (RMA): RMA is a membership organization serving commercial and institutional lending, credit risk, and portfolio management professionals with the well-known RMA Credit Risk Certification — closely analogous to AIRA in serving financial practitioners through certification programs, education, and chapter-based events.
• National Association of Credit Management (NACM): NACM is the oldest trade association dedicated to business credit management, providing certification (CBA, CCE), education, and networking for credit and receivables professionals — comparable to AIRA in operating model (membership + certification + events serving financial professionals) and partially overlapping in audience of restructuring-adjacent practitioners.
• Turnaround Management Association (TMA): TMA is the leading global nonprofit association for turnaround and restructuring professionals, directly comparable to AIRA in mission (certification, education, networking for turnaround practitioners) and in serving an overlapping membership base of financial advisors, attorneys, and workout consultants.

Regional players

• Insol International: Insol International is a worldwide federation of insolvency, restructuring, and turnaround professionals' associations — comparable to AIRA's mandate as a professional body for restructuring practitioners, but operating primarily outside the US as a meta-association linking national insolvency organizations.

Others

• IMA (Institute of Management Accountants): IMA is a global association for management accountants and finance professionals offering the CMA and CSCA designations, CPE, and industry resources — partially comparable to AIRA in serving accountants through credentialing and continuing education, though operating across all management accounting disciplines rather than focusing on insolvency/restructuring.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/aira_org

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Association of Insolvency & Restructuring Advisors