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ICAN Portal 2020 Check Application Update

Filed in Articles by on September 23, 2020
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ICAN Portal 2020 Check Application Update.

ICAN Portal: The best way to get recognition as an Accountant is to become a Chartered Accountant. To become one, you need to register with an Accounting body.

As an Accountant who wants to get chartered in Nigeria, you need to know how to register for ICAN (Institute of Chartered Accountants of Nigeria), read through for updates from the ICAN student application portal.

ICAN Portal 2020 Check Application Update

The Institute of Chartered Accountants (ICAN) is one of the most respected professional bodies in Nigeria with a qualifying certificate that is highly respected.

It is especially important for accounting students because they are not regarded as accountants until they take the ICAN examinations and get inducted by the body.

The Institute regulates ethical standards for the profession and has a strong mechanism for enforcing its compliance by all members. ICAN develops and assesses the highest quality Qualifying Examinations for Professional Accountants in Africa.

They offer specialty credentials through 7 Specialist Faculties for Chartered Accountants who choose to concentrate on the specialist accounting profession.

But, a surprising contrast to this position is the fact that it is not only accounting graduates that qualify to enrol with the Institute of Chartered Accountants of Nigeria. Simply put, virtually anyone can become a Chartered Accountant.

However, there are a few requirements that someone who is interested in holding this qualification must meet. This is the subject of this article.

What is ICAN?

ICAN is a founding and prominent member of the International Federation of Accountants IFAC, the body that regulates the Accountancy profession worldwide.

Institute of Chartered Accountants of Nigeria, or ICAN for short is the biggest accounting body in Nigeria and was established in 1965. It was meant to determine the skills and knowledge required for anyone to become an accountant, as well as establish and maintain the registry of associates, fellows, and accountants.

Over the years, it has grown into a large community of accountants that has certified over 38 thousand chartered accountants that are engaged in different sectors of the economy.

ICAN Website

For more information on ICAN, registration, requirements, membership, fee renewal, management team, offices, upcoming programs, and conferences, visit the link below: here

How to Become an ICAN Member

  • Visit any Nigerian commercial bank and pay the Induction fee of N90,000.
  • Get a receipt for your payment and go to the ICAN website.
  • In the required fields, type in the numbers of your deposit slip and receipt. You will receive a generated PIN and serial number.
  • On the registration page, type in your Student Registration Number, serial number, and the PIN.
  • Fill in the form and upload a good quality passport-format photo of yourself. Submit your application.
  • Print out the completed form and get your referees to sign it.
  • Attach the documents you can find at this link.
  • Submit the finished form and the evidence of payment to ICAN, Plot 16, Idowu Taylor Street, Victoria Island, Lagos.

Requirements to Qualify for the ICAN Examinations

Every graduate is qualified to take the ICAN examinations regardless of class of degree. You must have the following in place before you apply for ICAN:

  • Your degree certificate from a University or your Higher National Diploma from any Polytechnic
  • Your O’level result with credits in five subjects
  • Your passport photograph

Registration Procedure for the ICAN Examination

From the above, it is obvious that two kinds of people can take the ICAN examination; those who are accounting students and those who are not.

The registration procedure is the same for the two groups with little variations regarding the cost of programme, duration, and number of courses to be taken. But everyone going for ICAN must enroll as follows:

  • Visit any branch of Zenith or Fidelity Bank or other banks as stipulated on the ICAN website and pay the required fees to obtain your PIN
  • Log onto the website and click on Students Professional Registration
  • Fill the form that pops up
  • Scan a colored passport photograph of yourself unto the system and attach to the form
  • Click the submit button twice
  • Print a copy of the application form and sign it as required
  • Insert 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
  • Go to ICAN’s head office in Lagos and submit your compilation.

ICAN Professional Student Approved Certificates

The following are the approved certificates or qualifications also accepted by ICAN for intending professional students.

  • The final examination of any of the following bodies: Institute of Chartered Secretaries and Administrators, former Corporation of Secretaries, Association of International Accountants, Chartered Institute of Bankers of Nigeria, Chartered Institute of Stockbrokers, Chartered Institute of Taxation of Nigeria, Association of Accounting Technicians, U.K or Association of National Accountants of Nigeria (ANAN).
  • Executive Management Accountancy (Federal Treasury Training School, Stage III)
  • The final examination of the Accounting Technicians Scheme, West Africa (ATSWA).

ICAN ATS Examinations

  • The ATS Examinations take place in March and September each year.
  • Dates of examinations are advertised in the national dailies and appropriate forms are obtainable at some designated banks after paying the stipulated fees.
  • The examination is divided into Parts I, II, and III.  Each part is made up of four (4) subjects.
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