The Institute Of Chartered Accountants Examination Is Open To Graduates. Check Out How To Access The ICAN Portal And More In This Post.
Are you looking for information about ICAN? Do you want to know how you can access the portal? Then, you have come to the right place for this information. In this article, I am going to show you how you can access the ICAN portal as well as every other thing you need to know about ICAN. If this is what you are looking for, then keep reading this article.
Writing the ICAN exam is a great way to gain recognition as an accountant. If you become a chartered accountant, you would need to register with an accounting body. Let us now find out more about ICAN and how to register on the ICAN portal. Sit back while I take you through this!
The full meaning of ICAN is Institute of chartered accountants. The forerunner of the Institute under the name “The Association of Accountants in Nigeria” was established in 1960. This Association was absorbed by the Institute created by an Act of Parliament No. 15 (The Act) which came into effect on September 1, 1965.
The Institute has, as at December 2013, over thirty-eight thousand, one hundred and two (38,102) members and One hundred and ninety-four thousand, two hundred and sixty nine (194,269) students on its Register.
ICAN happens to be the biggest accounting body established in Nigeria. There are two main classes of membership of the Institute, namely; Chartered Accountants and Registered Accountants.
Levels Of ICAN Exam
There are three levels of the ICAN exam. They are:
1. Foundation Level
The Foundation Level provides a learning framework that contains manageable core content. There are five subjects in this level which can be taken in any order but the order given has a logical progression and mix of subject types.
2. Skills Level
The Skills Level builds on the foundation of competences already achieved at the Foundation Level and without repetition takes students into a higher level where their skills are developed and expanded and put into context. The emphasis is on application of skills in business situations. There are six subjects in this level and although students are not required to take them in sequence, there is a logical progression in the sequence.
3. Professional Level
The Professional Level consisting of five subjects takes students to the level where they have to make professional judgment and evaluations based on more complex business situations linking foundation, skills and synthesis recognising alternatives and broader issues that are not immediately apparent.
Case Study has been re-introduced in the Professional Level to ensure students are able to deal with scenarios, develop analysis, make critical comments and draw conclusions that are effectively articulated in a report format.
Qualifications For Registration For ICAN Exam
Not everybody would be able to take the ICAN examination. They are certain qualifications an applicant would need to meet to be able to apply for the ICAN examination. Here are the qualifications needed for registration for the ICAN exam:
(a) Recognised degree of any University or Higher National Diploma of any Polytechnic.
(b) Any other qualification for the time being approved by the Council. Approved meanwhile are:
(i) The final examination of Accounting Technicians Scheme, West Africa (ATSWA)
(ii) The final examination of the Institute of Chartered Secretaries and Administrators
(iii) The final examination of the Association of International Accountants
(iv) The final examination of the Chartered Institute of Bankers of Nigeria
(v) The final examination of the Chartered Institute of Stockbrokers
(vi) The final examination of the Chartered Institute of Taxation of Nigeria
(vii) The final examination of the Association of Accounting Technicians, U.K.
(viii) The final examination of the Association of National Accountants of Nigeria
(ix) Executive Management Accountancy (Federal Treasury Training School, Stage III)
ICAN Student Portal
The official ICAN portal would allow you carry out series of activities such as ICAN registration, check requirements, register for membership, fee renewal, check management team and so on. The student portal for ICAN differs depending. Here are the various portals for access to ICAN
1. Professional Students
The official portal for professional students is http://icanig.org/new/students/professional-students
2. ATSWA Students
The official portal for ATSWA students is http://icanig.org/new/students/atswa-students
The official portal for members is https://icanportal.org/members
Frequently Asked Questions
1. How Much Is The Cost Of ICAN?
ICAN exam as a professional examination registration fee is dependent on the exam you want to take at various levels. You can pay directly at any commercial bank in Nigeria, WEB-PAY, or QUICK-TELLER on the ICAN website.
2. How Many Levels Does ICAN Have?
The ICAN exam is broken down into three stages which are: the foundation level, skills level and professional level.
3. Can ICAN Be Studied Online?
Yes, ICAN can be studied online
4. Is ICAN Exams Difficult?
No, it is not difficult, as long as your practice properly
5. Is ICAN Better Than ACCA?
If you wish to work in Nigeria, ICAN seems to be a better option for you.
If you wish to become a member of ICAN, you have the opportunity to because it is not just open to accounting students or graduates alone. I hope this article was very useful to you, If you need more information on this topic, let us know in the comment section below.