In this article, we shall be discussing about the processes and requirements for ICAN registration in Nigeria currently in this year 2023. We will give you detailed information on the things you should know about ICAN registration processes and requirements on how to become a chartered accountant in Nigeria, so we urge you to read through to find out more.
The Institute of Chartered Accountants of Nigeria (ICAN) is one of our country’s most prestigious professional bodies, having a highly regarded qualifying certificate. The ICAN certificate is extremely crucial for accounting students because they will not be considered chartered accountants unless they pass the ICAN exams and are accepted into the organization through their induction process. Chartered accountants salary structure in Nigeria are really on the high side as top companies, especially the top accounting and auditing companies in Nigeria seek their services to move their various firms forward.
The fact that not just only accounting graduates are eligible to join the Institute of Chartered Accountants of Nigeria (ICAN) is a surprise to many people but the truth is that almost anyone can become a chartered accountant with ICAN as long as they are university or polytechnic graduates and you can check out the best universities offering accountancy in Nigeria to know which ones you find attractive enough to attend if you are a prospective accounting student. Kindly note however, that before anyone can become chartered, there are a few prerequisites that must be met so as to be issued the ICAN chartered accountant certification in the country today and we shall take a look at them below.
REQUIREMENTS TO QUALIFY FOR THE ICAN EXAMINATIONS IN NIGERIA
Regardless of your class of degree, every graduate is eligible to take the ICAN exams in Nigeria but before you apply for ICAN, the following requirements must be met:
- Your university degree certificate or your Higher National Diploma from your polytechnic
- Your O’level result with credits in at least five subjects in not more than two sitting
- Your passport photograph
ICAN REGISTRATION PROCESSES FOR BECOMING A CHARTERED ACCOUNTANT IN NIGERIA
Both accounting and non-accounting students are eligible to take the ICAN exam. Both groups go through the same registration process, with minor differences in programme cost, duration, and number of courses required. Everyone who wants to write the ICAN exam, however, must complete the following steps:
- To get your PIN, pay the required fees at any Zenith or Fidelity Bank branch, or any other bank listed on the ICAN website
- Select Students Professional Registration from the drop down option on the webpage
- Fill in the blanks on the form that appears
- Scan a colour passport photograph of yourself and upload it to the system’s form
- Double-click the submit button
- Print out a copy of the application form and sign it if necessary
- Fill in 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
- Proceed to ICAN’s head office in Lagos or any of their branch offices in your State of residence and submit your compilation.
You will be assigned a student registration number once your application is approved. You can now print your registration certificate, but keep in mind that your registration number is also your login information.
Non-accounting graduates take a total of sixteen courses in the ICAN exam, whereas accounting graduates take nine. The examination pace is totally up to you, and it must be completed within ten years of your ICAN programme enrollment. ICAN exams are taken twice a year, in May (May Diet) and November (November Diet).
In the normal instance, the ICAN programme can last one year for accounting graduates and one year and six months for non-accounting graduates. The ICAN certificate is very valuable because it is internationally recognized and prepares you for the professional life. If you want to enroll for the programme, by all means do.