It is not enough to study Accounting or any other related course and automatically become a recognized Accountant. Before you can become a revered accountant, you need to join the professional body of accountants recognized in Nigeria and outside, which is the Institute of Chartered Accountants of Nigeria (ICAN).
If you have been wondering how you can go about ICAN registration, this post was drafted to serve as an ultimate guide; to help you in all you need to know about the registration and all the requirements.
We also answered at the end of this article some lingering questions about ICAN and its enrollment processes. If you must get every bit of information contained in this article, you must read carefully.
ABOUT INSTITUTE OF CHARTERED ACCOUNTANTS OF NIGERIA (ICAN)
The Institute if Chartered Accountant of Nigeria (ICAN) is the professional accountancy body in Nigeria. Out of the two professional accountancy bodies in Nigeria with regulatory authority, ICAN is one. The second body is the Association of National Accountants of Nigeria (ANAN).
ICAN was established in 1965 from the Association of Accountants in Nigeria (AAN) and other auditing and accounting organizations in Nigeria.
The primary aim behind the formation of the ICAN was to train and certify qualified accountants; the purpose it still drives till date.
Today, the ICAN can boast of having trained and certified many competent Nigerian accountants, recording about 50,000 registered members.
On the premise of how important ICAN is to accountants, we have brought you in this article how you can register for ICAN and all that you require to do so.
The Institute of Chartered Accountants of Nigeria offers two different kinds of exams for prospective members. One is the professional exam and the other is the Accounting Technician Scheme (ATS)
ICAN Professional Exam
The ICAN Professional exam is only for holders of degree certificates or HND in any discipline from NUC accredited tertiary institutions. This exam is also for holders of the ICAN AAT diploma.
The Certificates Approved for ICAN Professional Exam
Below is the list of certificates that will be accepted from students who wants to take the ICAN professional exam:
- The final examination of Institute of Chartered Secretaries and Administrators, former Corporation of Secretaries, Association of International Accountants, Chartered Institute of Bankers of Nigeria, Association of Accounting Technicians, Chartered Institute of Stockbrokers and Association of National Accountants of Nigeria.
- Executive Management Accountancy
- Applicants can also have the final examination of Accounting Technician Scheme, West Africa (ATSWA).
Accounting Technician Scheme (ATS) Exam
The ATS is directed towards producing mid-level accounting technicians, to serve in different suitable positions. Within the West African region, the Accounting Technician of West Africa (ATSWA) serves.
This ICAN programme is for those who have at least 5 credits (Mathematics and English Language included) in their O’ Level certificates.
ICAN REGISTRATION REQUIREMENTS
Before you can proceed to apply for ICAN, you must be sure you beat the set requirements. If you go contrary to the set requirements, you application will not be considered.
Requirements for Professional Applicants
- Applicants must have either a degree from any accredited University, or Higher National Diploma, HND from any accredited Polytechnic.
- You are allowed to present any other qualification obtained from an accredited institution.
Requirements for Accounting Technician Scheme Applicants
- Applicants must have O’ Level certificate bearing at least five (5) credits, of which English Language and Mathematics must be included.
- Applicants with Ordinary National Diploma from any accredited Polytechnic are also accepted for this category.
- Candidates with National Certificate of Education are also called to apply. You must provide your respective certificates during the application.
HOW TO REGISTER FOR ICAN
You can register with ICAN in three different ways:
- As a professional student
- As an Accountant Technician Scheme, West Africa, and
- As a member
You can register with ICAN as either of the above. You must also bear in mind the requirements for each position as stated above. Your qualification must be in line with which you are applying for.
REGISTER AS A PROFESSIONAL STUDENT
- Visit any commercial bank and pay a sum of NGN7000 (bank charges is not included) for the ICAN Professional registration, through PayDirect. You can also pay through the ICAN website, using QuickTeller.
- Using the transaction reference and receipt number of your payment, complete the online application form, following this link http://icanig.org/RPlogin.php
- Upload a coloured passport photograph of you and submit your application.
- Print out the registration slip and sign it.
- Proceed to find a chartered accountant who will serve as your referee or sponsor. You will need the person’s membership number, name and contact number.
Make sure he/she certifies the printed application slip.
NOTE: Applicants with Architecture Aptitude Test (AAT) result are required to pay NGN23, 500 which will cover the cost of induction/conference. Attach a photocopy of the payment receipt to the application form.
Supporting Documents for ICAN Professional Students Registration:
- An original copy of the pin voucher
- Two copies of your recent and clear passport photographs
- And original copy of the bank receipt.
REGISTER AS AN ATSWA STUDENT
- Enter any commercial bank and pay a sum of NGN6000 professional examination registration fee on PayDirect.
- Log on to the website registration portal which is stated on the PayDirect receipt you obtained from the bank.
- Upload a copy of coloured passport photograph of you on the online application form.
- Print out a copy of the completed application form and append your signature on the designated area.
- Look for any Chartered Accountant or AAT member who will stand in for you as sponsor or referee. Get his name, membership number and phone contact. Ensure he signs your application form too, as designated.
- Submit the completed application form to the Students’ Education and Training Department at ICAN Secretariat, 82 Murtala Mohammed Way, Ebute Meta, Lagos State.
Supporting Documents for ATSWA Application:
You have to submit the application form alongside these documents:
- The photocopy of your O’ Level certificate or Statement of Result, OND or NCE certificates.
- Two copies of your coloured passport photographs
- The original copy of the PIN voucher
- The copy of your birth certificate or sworn affidavit
- Three empty envelops bearing your address. You have to keep NGN50 stamp charge for each of them.
- An original copy of the bank payment receipt.
REGISTER AS MEMBER OF ICAN
If you want to register as an ICAN member (that is after you have undergone the ICAN training),
Visit any commercial bank in Nigeria and pay the sum of NGN90, 000 induction fee.
Log on to the ICAN website (http://icanonline-ngr.com/paydirect) to start your registration.
In the online application form, fill your deposit slip and receipt numbers. Generate PIN and serial number
On the Student registration page, enter your Student Registration Number, serial number and PIN. Fill the other required information in the form and upload your passport photograph.
Submit the form on completion and print the acknowledgement form. Get your referee to sign it before proceeding to submit it at ICAN, plot 16, Idowu Taylor Street, Victoria Island, Lagos or any other ICAN office close to you.
FREQUENTLY ASKED QUESTIONS
How much is ICAN registration?
ICAN registration costs NGN7, 000 for professional students. This does not include other charges for online processing and business centers.
What is ICAN?
ICAN is an abbreviation of Institute of Chartered Accountants of Nigeria. It is the professional accountancy body that ensures the training and certification of accountants in Nigeria.
How long does it take to complete ICAN training?
It takes a minimum of one (1) year to complete ICAN training. It can last longer depending on how you are serious about the programme.
Is ICAN recognized in the international community?
ICAN is the only Nigerian professional accountancy body recognized by the International Federation of Accountants (IFAC).
If you have really read carefully as I advised at the beginning of this article, you will have come to understand how you go about your ICAN registration.
But if by any means you still have an unanswered question, do not hesitate to put it down in the comment section.
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