Qualifications and How to Apply for ICAN or ACCA

For ICAN this is the procedure:

1. Your certificate (B.sc, HND, OND, SSCE etc)
2. Go to ICAN website for application fee
3. Pay the required amount at any commercial bank
4. Collect your pin no
5. Fill the form
6. Print it out and have a qualified member (financial member) to sign on the form and your credentials
7. Submit the form at ICAN office in Oyingbo Lagos
8. Afterwards you will get a student no
9. If you are qualified for exemption you apply after

Foundation Level
-Business Law
-Business Finance
-Quantitative Techniques in Business

Skills
-Audit and Assurance
-Management, Governance and Ethics
-Performance Management
-Financial Reporting
-Public Sector Accounting and Finance
-Taxation

NOTE:

  • It’s only opened to students who wish to be a chartered accountant
  • ICAN is far inferior to ACCA
  • ACCA gives you global relevance ICAN gives you relevance only in Nigeria and just in government owned ministeries , parastatals and agencies not multinationals in Nigeria

SOME FACTS:

The term ‘Chartered’ in ACCA qualification refers to the Royal Charter granted in 1974.

Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.

The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.

ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.

These ACCA-X courses are available in over 190 countries worldwide:

Accountant in Business[12] (preparation for FAB/F1)
Management Accounting[13] (preparation for FMA/F2)
Financial Management[14] (preparation for FFA/F3)
Exam passes in these three modules and the completion of ACCA’s Professionalism and Ethics module will lead to the Diploma in Accounting and Business.

Professional partners Edit
Through partnerships with professional institutions, ACCA offers students and members access to other related professionals.

ACCA is one of three professional bodies (Others are the charterholders of Chartered Financial Analyst (CFA) and MIPA/FIPA members of the Institute of Public Accountants) whose members are recognized by UK’s Securities & Investment Institute (SII) as equivalent to full SII membership (MSI).[38] MSI are recognized by national investment professional bodies such as Financial Services Institute of Australasia (FINSIA)[39][40][not in citation given] and Hong Kong Securities Institute (HKSI).
ACCA and FINSIA have a separate global partnership. Under the agreement, students and members of ACCA may obtain advanced standing in the Institute examinations.
ACCA and the Institute of Internal Auditors (IIA) have a global partnership. Under the agreement, the two organisations cooperate, collaborate and share resources.
ACCA and the Chartered Institute of Taxation (CIOT) have a global partnership to enable ACCA’s members to take CIOT’s Advanced Diploma in International Taxation (ADIT).
ACCA members may access an accelerated route to Associate membership of the UK Association of Corporate Treasurers(ACT).
ACCA and Investors in People (IIP) agreed to enable IIP-recognised organisations in the UK and Ireland to apply directly for the award of ACCA Approved Employer (professional developments stream.) ACCA members working in IIP-recognised organisations benefit from the recognition of their work-related learning and take advantage of simplified CPD reporting.
Institute of Directors (IoD) and ACCA are working on initiatives to promote good governance and high standards in learning and development. From 2007, ACCA members seeking enhanced skills and improved organisational performance can undertake the Chartered Director qualification – a professional qualification for directors.[41]
Institute of Management Accountants (IMA) in United States agreed that Chartered Certified Accountants (ACCA) have to pass a final examination to get the Certified Management Accountant (CMA) designation(this policy has been ended in 2013). This is an IMA policy and mirrors privileges of other IFAC bodies, as well as to others with the equivalent of a U.S. Bachelor’s degree (any discipline).

Representation worldwide Edit
ACCA is represented on many committees and bodies around the world.[49]

ASEAN Federation of Accountants (AFA)
Confederation of Asian and Pacific Accountants (CAPA)
Consultative Committee of Accountancy Bodies (CCAB)
Eastern, Central and Southern African Federation of Accountants (ECSAFA)
European Financial Reporting Advisory Group
Fédération des Experts Comptables Européens (FEE)
Fédération des Experts Comptables Méditerranéens (FCM)
Global Reporting Initiative (GRI)
International Federation of Accountants (IFAC)
Institute of Chartered Accountants of the Caribbean (ICAC)
Inter-American Accounting Association (IAA)
South Eastern European Partnership on Accountancy Development (SEEPAD)

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