The Institute of Chartered Accountants is one of the most respected accounting bodies in Nigeria. With a qualifying certificate from ICAN, accounting students and other interested candidates are revered and inducted into the noble body.
In this guide, we’ll show you how to register for the ICAN, the registration requirements, and everything else you need to know about ICAN registration.
Table of contents
About ICAN
The Institute of Chartered Accountants of Nigeria is Nigeria’s professional accounting body. It is also one of two professional accounting associations in Nigeria with regulatory authority, the other being the Association of National Accountants of Nigeria.
ICAN was established by Act of Parliament No. 15 of September 1, 1965, from existing accounting and auditing organizations, including the Association of Accountants in Nigeria (AAN). Its mission statement states that it “produces world-class chartered accountants, regulates them, and continuously improves their ethical standards and technical competence in the public interest.”
Over the years, ICAN has become a large community of accountants that has certified more than 38,000 public accountants working in different sectors of the economy.
The institute was established to perform the following duties:
- Determine what levels of knowledge and skill are required of those seeking to join the accounting profession, and raise those levels as circumstances allow.
- Ensure, in accordance with the provisions of the Act, the establishment and maintenance of registers of fellows, associates, and registered accountants entitled to practice as accountants and auditors, as well as the publication of a list of those persons on a regular basis;
- Lastly, perform, through the Council of the Institute, all other functions conferred on it by the Act.
Who Is Eligible For ICAN Certification?
Every graduate is eligible for the ICAN certification, regardless of their class of degree. However, you must have the following documents in place before you apply for the ICAN:
- Your degree certificate from a university or HND certificate from a polytechnic.
- Your O’level result with credits in 5 subjects.
- Passport photograph
ICAN Requirements
If you are eligible for ICAN registration, then, you are to provide the following documents for the different exams:
For Professional students
- University degree certificate or Higher National Diploma of any Polytechnic accredited by the Council.
- Any other qualification for the time being approved by the Council.
For ATSWA students
According to ICAN’s official website, ATSWA students are to tender the following:
- Five (5) credit passes in any subject, including English Language and Mathematics, in the West Africa School Certificate Examination, General Certificate of Education or Senior School Certificate of Education, NECO equivalent, not more than two sittings, or NABTEB.
- Ordinary National Diploma from any Polytechnic recognized by the Council of the Institute
- National Certificate in Education (NCE) from any college of education.
Moving on, we’ll explain how to register for ICAN whether as a professional student or an ATSWA student.
How to Register For ICAN As A Professional Student: Step-By-Step Process
An applicant must have an equivalent university degree or higher to register as a professional student with the Institute.
Here’s the step-by-step process for registering for ICAN as a professional student:
- Pay a professional examination registration fee is ₦7,000 (bank charges not included) by paying directly at any commercial bank in Nigeria, WEB-PAY, or QUICK-TELLER on the ICAN website.
- After payment, use the transaction reference and receipt number to complete your form online on the ICAN website. Applicants can continue their registration by clicking on the link: http://icanig.org/RPlogin.php
- Get a colored passport photograph of yourself. Scan it and add it to the registration form. Then click submit after completing the form.
- Print out the completed form and sign it.
- Find a chartered accountant sponsor or referee to endorse and certify your application form and credentials upon completion. Also, provide their name, membership number, and contact number.
- Your application will not be complete without a copy of your WASC certificate, the PIN voucher, two certified passport photographs, three empty envelopes with your address and ₦50 stamp on each of them, a copy of your birth certificate, and the original of the bank teller.
To make the most of the ICAN exam, you need to prepare for it using the ICAN past questions and answers.
Required documents
Eligible applicants must attach the following documents to their applications and submit hard copies to any ICAN office near them:
- The original pay-direct receipt or transaction reference
- Photocopies of your credentials and educational qualifications, as well as any of the following (NYSC discharged certificate, call-up letter, or students’ academic transcripts),. Transcripts should be addressed to the institute’s registrar or chief executive.
- Two passport photos with certification.
- Three blank envelopes with your address and an N50 stamp on each.
After this, your registration will be complete. You can also check your exam or financial status on the page by clicking here.
If you have any questions or problems, you can send an email to [email protected].
How To Register For ICAN As An ASTWA Student
The Accounting Technicians Scheme of West Africa {ATSWA} curriculum is divided into three sections, each of which contains four (4) subjects. After passing the ATSWA examinations, ICAN awards the AAT certificate.
Furthermore, the examination of the three levels takes at least 15 months for those with an ordinary level certificate and 6 to 12 months for those with a higher certificate but not a degree certificate. The exam, however, is held twice a year, in March and September.
Here’s a step-by-step guide on how to register for the ICAN as an ASTWA student:
- The ATSWA registration fee is ₦6000 (bank charges not included) and can be paid directly at any commercial bank in Nigeria or via WEB-PAY or QUICK-TELLER on the ICAN website.
- To generate your PIN and serial number, enter the transaction reference and receipt number.
- Make a colored passport photo of yourself. Scan it and enter the information into the registration form. After you’ve finished filling out the form, click the submit button.
- Print and sign the completed form.
- Locate a chartered accountant or an Associate Accounting Technician (AAT) sponsor or referee to endorse and certify your completed application form and credentials. Please include their name, membership number, and contact information as well.
Required documents
Eligible candidates are to attach the following documents:
You are expected to attach the documents below and return hard copies to any of their offices.
- The original pay-direct receipt or transaction reference.
- Certified photocopies of your credentials, if applicable (NECO, WASCE, NABTEB, OND, NCE)
- A duplicate of your birth certificate.
- Two passport photos with certification.
- Three blank envelopes with your address and a N50 stamp on each.
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How to Register to Become A Member OF ICAN
To become an ACA, you must first register as an ICAN Professional Student and then sit for and pass all of the required examinations. Furthermore, after passing the exams, you must have at least 36 months of work experience before applying for induction as a new member.
Here’s how to register to become a member of ICAN:
- Visit any commercial bank in Nigeria and pay the induction fee of N100,000.
- Get a receipt for your payment and go to the ICAN website through the link: http://www.icanonline-ngr.com/paydirect to start the registration.
- Fill in the required fields with your deposit slip and receipt numbers to generate your PIN and serial numbers.
- Enter your student registration number, serial number, and PIN on the registration page.
- Fill out the form and upload a passport-sized photo of yourself, then submit your application.
- When you’re done, print the form and have your referees sign it.
- Please attach the documents found at this link.
- Send the completed form and proof of payment to ICAN, Plot 16, Idowu Taylor Street, Victoria Island, Lagos, or any ICAN office near you.
Recognized ICAN Tuition Centres | Tutorial Centres
ICAN tuition centers are available to assist you in preparing for your exams. They will teach you ICAN’s dos and don’ts, registration, examinations, and how to answer questions at these ICAN tutorial centers. As an institute, they are in charge of the recognition and re-recognition process, which involves evaluating the facilities and quality of tuition delivery at all recognized tuition centers and new ones.
Click on the link below to find a list of recognized tuition centers near you, as well as their address, email, and other contact information:
ICAN-recognised tuition-centres
Visit ICAN’s official website to learn more about ICAN’s recognition/re-recognition exercise.
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How Much Does ICAN Cost In Nigeria?
ICAN exam is the one that allows you to become a chartered accountant in Nigeria. You can even say it’s your license to practice accountancy at the highest level. ‘However, before you can sit for the ICAN exams, you will need to fulfill one of the important requirements, which is paying the registration fee.
There are different fees individuals have to pay for their ICAN exams, all depending on the level at which they are taking the exam.
| Levels | Rates | ||||
| 1 paper | 2 papers | 3 papers | 4 papers | 5 papers | |
| Foundation | 22,500.00 | 28,700.00 | 34,900.00 | 41,100.00 | 47,300.00 |
| Skills | 31,700.00 | 41,700.00 | 51,700.00 | 61,700.00 | 71,700.00 |
| Professional | 34,450.00 | 45,700.00 | 56,950.00 | 68,200.00 | 79,450.00 |
Does ICAN Provide Tuition Aid To Students?
ICAN provides tuition aid to students who are finding it difficult to pay for tuition, either in the form of grants or loans. To access the grants, you need to fill out the ICAN application form for grants and submit it. If you wish to opt for the loan, you can do so by filling out the ICAN application loan form.
Are There Available Scholarships For ICAN Graduates and Students?
The Institute of Chartered Accountants has put in place a strategy that will make the accounting profession more attractive to the brightest youths from any academic discipline by introducing a scholarship scheme for outstanding students of institutions whose accounting and accounting programs are accredited by ICAN.
The scholarship covers examination fees, the provision of study packs, and tuition fees to the tune of N60,000.00. It shall persist as long as the student does not completely fail any level of the examination.
Types of scholarships available
DIAMOND
The Diamond Scholarship is for first-class or distinction graduates of ICAN-accredited institutions, irrespective of the discipline or course of study, to write the professional examinations of the institute.
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GOLD:
The gold scholarship is for the best-graduating student of an ICAN-accredited accounting or accounting program at the professional examination level.
SILVER:
The Silver Scholarship is for the following category of students:
- Best student in year one of any ICAN-accredited accounting or accounting program in tertiary institutions to write the Accounting Technicians Scheme for West Africa (ATSWA) Examination.
- The best overall student in the final level of ATSWA is proceeding to the professional level.
To qualify for the scheme, you have to:
- Be a registered student of the Institute (ATSWA or Professional)
- Claim necessary exemption
Requirements for the application are:
- Application letter
- Recommendation letter from your school
- Recommendation letter from ICAN District Society
- B.Sc/HND result
ICAN Website
For more information on ICAN, registration, requirements, membership, fee renewal, management team, offices, upcoming programs, and conferences, visit the link below: here
Professional students, click: http://icanig.org/new/students/professional-students
ATSWA students, click: http://icanig.org/new/students/atswa-students
Click here for the members portal: https://icanportal.org/members
FAQs On ICAN
After you have finished the registration, visit the ICAN official website to check your registration number or click on this link http://icanig.org/new/ and follow the prompts to check it directly.
The acronym ICAN stands for the Institute of Chartered Accountants of Nigeria. The Institute of Chartered Accountants of Nigeria is Nigeria’s professional accounting body. It is also one of two professional accounting associations in Nigeria with regulatory authority, the other being the Association of National Accountants of Nigeria.
To register for ICAN as a professional student, you need to pay a professional examination registration fee is ₦7000 (bank charges not included) by paying directly at any commercial bank in Nigeria, WEB-PAY, or QUICK-TELLER on the ICAN website.
ICAN was established by Act of Parliament No. 15 of September 1, 1965.
Conclusion
The Chartered Accountancy qualification opens up a world of exciting career opportunities in every sector of business and finance, both in Nigeria and around the world. Chartered accountants are in high demand both at home and abroad and are known for their technical expertise, professional standards, and veracity. It gives you a competitive advantage when looking for jobs in Nigeria.
I hope this article satisfies your search intent. Cheers!
References
- icanig.org – ICAN official website
- icanpathfinder.com – Ican Registration
Am an undergraduate I would like to know if I can take the ICAN Examination but am not an account student I actually don’t know accounting
No, you can’t, Esther. You have to wait till you graduate. The ICAN exam is meant for graduates, irrespective of the course studied.
Yes Esther you can start with ATSWA
With your o level certificate if you wish