Last updated on May 31, 2021 by The Counselor
Institute of Chartered Accountants of Nigeria, ICAN, is the most recognized Accounting professional body in Nigeria. It is widely recognized with its resourceful qualified professional members and students that are still in the process of becoming Chartered Accountants.
- One major benefit of ICAN certificate is that it complements your accounting course at the university or other HEIs. This gives you an edge and stands you out as a professional in such a field. This will help you know what the professional practice entails and what path you should take. Almost every course has a professional examination to go with.
- Another benefit of ICAN is that Chartered Accountants usually have entrepreneur skills with a solid foundation in economics, marketing, and management information systems. In recent, Accountants take on the role of a business advisor, aimed at driving business, improving profit margins and increasing market share for their clients/employers. Many Chartered Accountants also use their expertise to form their own businesses, becoming highly successful entrepreneurs.
- Another benefit of an ICAN member is that you will have a global recognition – meaning; with your accounting professional qualification, you can work anywhere as an accountant. You can practice anywhere and be recognized. No other career offers the mobility that a Chartered Accountancy’s qualification does.
- The Chartered Accountancy qualification opens the door to a vast range of exciting career opportunities, in every sector of business and finance, both in Nigeria and internationally. Chartered Accountants are in constant demand both at home and abroad, being recognised for their technical competence, professional standards, and veracity. It gives you that competitive edge in securing jobs in Nigeria.
- Becoming a Chartered Accountant combines innovative education with mentored work experience, to produce accountants who possess a greater ability to analyse and interpret business problems and develop dynamic solutions. Perhaps that’s why Chartered Accountants have the edge over their counterparts: they rise further and faster into more diverse and important roles in organisations
- In practice, you are not yet an accountant until you sit for ICAN or other accounting professional examinations and passed all the prescribed examinations, then, been inducted by the authority of the Institute of Chartered Accountants (ICAN) of Nigeria before you get a professional license to practice
The following are benefits for being a Fellow of the Institute of Chartered Accountants of Nigeria:
- Fellows queue
Separate queues are maintained for fellows, different from the general queue during Annual Accountants’ conferences and all other ICAN events using their pins and identity cards subject to security considerations.
- Fellows lounge
The establishment of tastefully furnished Fellows Lounge in all ICAN buildings nationwide provides a comfortable waiting area when Fellows of the Institute have anything to do at such ICAN offices.
- Discount on hotels & airlines & megastores
Council has approved that Secretariat liaises with the institute’s hotels, airlines and megastores partners across the country on the possibility of granting additional discounts on rates to fellows of the institute.
- District recognition plaques
Award of plaques as token prizes at annual conferment of fellowship events to three ICAN district societies with the highest number of conferees.
- Fellows’ retreat/night
Council has approved the introduction of Fellows’ Retreat/Night for members in this category to hold in January of every year with effect from 2017/2018 Presidential year.
- The sitting arrangement at ICAN functions:
Council has approved that sitting arrangement be delineated for FCAs and ACAs in all the institute’s events including those of district societies. FCAs are to sit in front while ACAs will sit behind them.
- Fcas without plaques:
Council has approved that members of the institute who had been conferred with the fellowship status prior to the introduction of fellows’ plaques but are interested in having the fellows’ plaques should contact the Institute and plaques produced for them at a token fee of N5,000.
- Life insurance benefit:
Council has approved that Secretariat should liaise with ICAN Insurance brokers for an upward review of the insurance benefits for fellows of the institute with a clear distinction between the two categories of members and with a view to making the benefits to fellows more attractive to members.
ICAN Stages and Courses
- Business, Management and Finance
- Financial Accounting
- Management Information
- Business Law
- Financial Reporting
- Audit and Assurance
- Corporate Strategic Management & Ethics
- Performance Management
- Public Sector Accounting and Finance
- Corporate Reporting
- Advanced Audit and Assurance
- Strategic Financial Management
- Advanced Taxation
- Case Study