How To Register For ICAN- Everything You Need To Know

How To Register For ICAN. Get Compiled Information On Everything You Need To Know About ICAN In This Post. Check Here For more.

How To Register For ICAN

Are you an aspiring accountant? Do you want firsthand information on how to register for ICAN and its processes? Then you have come to the best source to acquire such information. We have a lot of answers to questions that you might want to ask about ICAN in this very article. This article contains substantial information on basically everything that you need to know about ICAN. We are also going to be looking at a few Frequently asked questions (FAQs). First we are going to look at what ICAN really is and what it stands for.

What is ICAN?

ICAN is otherwise known as Institute of chartered accountants of Nigeria, it is fondly called ICAN for short. It is a professional body or association for accountants in Nigeria. ICAN (institute of chartered accountants of Nigeria) is only one out of the two professional accountancy body or organizations that operates with a regulatory authority that we have in Nigeria. One thing that can be thought as the standards of ICAN (institute of chartered accountants of Nigeria) is that it has based its practices on those practices of British chartered accountancy institutes and it also adopted the international accounting standards with only a little modification in it.

When was ICAN established?

ICAN (Institute of chartered accountants of Nigeria) was founded or established in 1965. The main purpose for the establishment of ICAN (institute of chartered accountants of Nigeria) is the fact that it Was intended to determine the knowledge and the skills possessed by anyone that has an ambition to become an accountant. Since 1965 till date, ICAN has registered a lot of chartered accountants which are certified and has thus made it to become a large community of people with similar knowledge and skills.

Chief Akintola Williams plays a leading role of ICAN (institute of chartered accountants of Nigeria) in starting up this organization and this body was created by an Act of parliament No 15 on the 1st of September 1965.

The stated mission of ICAN (institute of chartered accountants of Nigeria) is “to produce world class chartered accountants, regulate and continuously enhance their ethical standards and technical competence in the public interest”.

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What is ICAN Exam?

ICAN exam is simply a kind of test carried out on individuals who wish to join the ICAN (institute of chartered accountants of Nigeria). Without writing and properly passing the ICAN (institute of chartered accountants of Nigeria) it is very impossible to join the association. Here are a list of the courses that are available for one to take in order to be part of the organization as I have identified and placed them under each levels:

1. PROFESSIONAL LEVEL

  1. B1 corporate reporting
  2. B2 advanced audit and assurance
  3. B3 strategic financial management
  4. B4 advanced taxation
  5. B5 case study

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There are also other stages that are available for accounting non graduates. This implies that the non-graduates will have to write the exam in three stages. These three stages are: the foundation stage, the skills stage and the professional stage. I have also listed the courses available to e taken under each of these levels which are:

2. THE FOUNDATION LEVEL

  1. E1 Quantitative techniques in business
  2. E2 business and finance
  3. E3 financial accounting
  4. E4 management information system
  5. E5 business law

3. THE SKILLS LEVEL

  1. F1 financial reporting
  2. F2 audit and assurance
  3. F3 Taxation
  4. F4 performance management
  5. F5 public sector accounting and finance
  6. F6 Management, governance, and ethics

4. THE PROFESSIONAL LEVEL

  1. G1 corporate reporting
  2. G2 advanced audit and assurance
  3. G3 Strategic financial management
  4. G4 Advanced taxation
  5. G5 Case study

It should be noted also that educational accounting graduates will also have to start from the foundation level instead of moving to the skills level but they will have to write only one course and will not have to write the rest and they will have to pay for the fact that they will not write the rest. This means that they will pay for the 5 courses but will only be able to write just 1.

There are two stages which accounting graduates should pass through two stages of exam

How much is ICAN examination fee?

A lot of people often ask for the price of the ICAN (institute of charted accountants of Nigeria) exam which is why I have placed this here today. I have developed a table that would help you identify the exam fee needed for ICAN (institute of chartered accountants of Nigeria). The purpose of this table is for ease of proper identification. The table below shows the various price of the exam.

LEVELS OF ICAN EXAMINATION1 PAPER2 PAPERS3 PAPERS4 PAPERS5 PAPERS6 PAPERS
FOUNDATION# 21,500#26,700#31,900#37,100#42,300
SKILLS#30,700#39,700#48,700#57,700#66,700#75,700
PROFESSIONAL#33,450#43,700#53,950#64,200#74,450

It should be noted that these fees do not include the bank charges added to them.

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What is ICAN registration?

A lot of people ask the question on how to register for ICAN which is why I had to make clear the meaning of ICAN registration before giving details on the steps to take on registering for ICAN. ICAN registration in very simple terms can be seen as the measures you take in other to be able to qualify to write the ICAN exams.

How can I register for ICAN?

You might get confused in how to register for ICAN exam but you do not have anything to worry as I have the solution to this challenge. I am going to help you on how you can easily register for ICAN without so much stress. One thing you need to be aware of this that to be able to be eligible for this exam, you need to have at least a bachelor’s degree or a higher national diploma (HND). There is also a list of qualifications that you would need to qualify for this exam and you can check the ICAN website for more information of the qualifications.

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Ruth Aldama

Ruth Aldama is a Content Developer at BenUpdate.com. Ben Update Is A Team of Resource Persons and Consultants. If You Need A Personal Assistance on This Topic, Kindly Contact Us.

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