ICAN Registration or Certification is the best way to become recognized as a Chartered Accountant in Nigeria.
ICAN is the most highly esteemed professional Registering with ICAN is the best way to become a recognized Chartered Accountant in Nigeria.
What is ICAN?
ICAN is an acronym for the Institute of Chartered Accountants of Nigeria. It was established in 1965 as a professional accountancy body in Nigeria.
The mission statement of ICAN is the production of world-class chartered accountants, the regulation, and continuous enhancement of technical competence and ethical standards for the interest of the general public.
ICAN is a regulatory body in Nigeria of the two professional accountancy associations in the country. Get a list of the full Regulatory bodies in Nigeria.
ICAN was formed with the sole aim of fostering expertise and professionalism in the accountancy profession of Nigeria. The organization began initially with 250 members but currently has over 35,000 members.
ICAN Registration Requirements
The following are the ICAN registration requirements:
- A Higher National Diploma or University degree from any ICAN accredited institution.
- O’level results with a minimum of five (5) credit passes in the examination.
- A recent passport photograph.
After you have known the ICAN Registration Requirements, the next is to find out how to register for the ICAN examinations.
Procedures for ICAN Registration
There are three different ways through which you can register for ICAN
- ICAN Registration as a professional student.
- ICAN Registration as a student under the Accounting Technicians Scheme West Africa (ATSWA)
- ICAN Registration as a member.
ICAN Registration as a Professional Student
The following are the important points to note when you wish to register under ICAN as a professional student:
- Proceed to any commercial bank in Nigeria
- Pay the ICAN professional examination registration fee of ₦7,000 (excluding the charges)
You can make payments using Pay Direct or you can make payments on the ICAN official website.
- After making payments, visit the website displayed on your receipt to complete your registration there.
- Get and Scan a colored passport photograph of yourself; add it to the registration form.
- Complete the application form and sign it. You can also scan and upload your signature there.
- Provide the name, membership number, and contact number of your chartered accountant sponsor/referee to upload it as well.
- After completing the application, take it to your sponsor/referee for proper certification.
ICAN Registration as a student under the Accounting Technicians Scheme West Africa (ATSWA)
- If you are using your AAT results, you will be required to make an initial payment of ₦23,500 for the induction/conference;
- Next is to add the receipt to your application.
- Attach the original Pay Direct receipt, the original PIN voucher, and two certified copies of your passport photographs.
- This is the final stage of your registration. After which your registration will be complete.
General procedures for ICAN Registration
- Obtain a PIN voucher from Fidelity/Zenith/ Bank.
- Using the information provided on the PIN voucher, login to the ICAN website that would be displayed on the voucher you got from the bank.
- Select the Students’ Professional Registration. Provide and fill in your data in the form.
- Get and scan a colored passport photograph of yourself on the form.
- Click the submit tab twice to complete the online application.
- Print a copy of your application form.
- Append or scan and upload your signature.
- Get a referee/sponsor preferably a chartered accountant under the ICAN body.
- Input his or her name, membership number, and phone number.
- Take a printed copy of your completed application form and photocopies of your credentials asking with you to your Referee/Sponsor for proper certification.
Also, to the copies above attach the following:
- An Original copy of your pin voucher.
- Two copies of your passport photographs signed and certified by your sponsor.
- The Original copy of the bank teller that you used to make payments.
- The completed application form from the website provided to you.
File all the abovementioned documents and send them to the ICAN head office in Lagos for appropriate consideration.
While sending in your documents, always ensure that they reached the office to avoid disappointments.
Why become an ICAN member
In the profession of accounting, there are unique privileges that are attached to becoming a member of ICAN.
ICAN Members as reputable members of the accounting profession, and because of this, they enjoy these privileges.
Some of these privileges include:
- Global Recognition
With the qualification as an ICAN member, you can work flexibly and anywhere as an accountant.
You no longer need to be tied down to a particular office or country because of a B.Sc. or HND in accounting which may not be accepted in some countries.
Not only can you enjoy a flexible practice in your accounting profession, but also, you would be recognized.
The Chartered Accountancy qualification offers you professional mobility that not most career paths in Nigeria do.
Chartered Accountants have solid foundations in marketing, economics, and management information systems.
As a chartered accountant, you can work as a business advisor. You can also improve profit margins if businesses, drive businesses, and increase market share for the clients/employers.
Some Chartered Accountants advantage their expertise in creating their businesses, thus becoming very successful entrepreneurs
Frequently Asked Questions and Answers
The ICAN certificate is called Institute of Chartered Accountants of Nigeria
For the Professional level of the ICAN program, you can complete the ICAN professional examinations in one year, 18 months, or even two and a half years. The period of the ICAN program is dependent on the path you choose to take in pursuing chartered accountancy dreams.
There are fifteen subject courses in the ICAN skill level. However, they are grouped into three levels: 1. Foundation 2. Skills 3. Professional
ICAN has only two-diet professional examinations this year 2022. One would be conducted in May, and another in November.
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