The Institute of Chartered Accountants (ICAN) is one of the most respected professional bodies in Nigeria with a qualifying certificate that is highly respected. It is especially important for accounting students because they are not regarded as accountants until they take the ICAN examinations and get inducted by the body.
But, a surprising contrast to this position is the fact that it is not only accounting graduates that qualify to enrol with the Institute of Chartered Accountants of Nigeria. Simply put, virtually anyone can become a Chartered Accountant. However, there are a few requirements that someone who is interested in holding this qualification must meet. This is the subject of this article.
Requirements To Qualify For The ICAN Examinations
Every graduate is qualified to take the ICAN examinations regardless of class of degree. You must have the following in place before you apply for ICAN:
- Your degree certificate from a University or your Higher National Diploma from any Polytechnic
- Your O’level result with credits in five subjects
- Your passport photograph
Registration Procedure For The ICAN Examination
From the above, it is obvious that two kinds of people can take the ICAN examination; those who are accounting students and those who are not. The registration procedure is the same for the two groups with little variations regarding cost of programme, duration and number of courses to be taken. But everyone going for ICAN must enrol as follows:
- Visit any branch of Zenith or Fidelity Bank or other banks as stipulated on the ICAN website and pay the required fees to obtain your PIN
- Log onto the website and click on Students Professional Registration
- Fill the form that pops up
- Scan a colored passport photograph of yourself unto the system and attach to the form
- Click the submit button twice
- Print a copy of the application form and sign it as required
- Insert the membership number, name and phone number of your referee or sponsor who must be a chartered accountant
- Photocopy your credentials and take it along with the form you had earlier printed to your referee or sponsor and give them to him for certification
- Attach the original copy of the pin you obtained at the bank along with two copies of your signed passport photographs and original copy of your bank teller to the certified form
- Go to ICAN’s head office in Lagos and submit your compilation
Upon your application being granted, you will receive a student registration number. You can proceed to print your registration certificate and also do not forget your registration number as it is also your login details.
While students entering the course as accounting graduates take a total of nine courses in the ICAN examination, non accounting graduates take a total of sixteen courses. The examination pace depends entirely on you and must be taken within ten years of your enrolling for the programme. They are taken in May and November of every year. The ICAN programme can last one year for accounting graduates and one year and six months for non accounting graduates in the normal case.
The ICAN examinations hold so much value because it is globally recognised and also equips you to be self employed. So if you would like to enrol, then go for it.