ICAN Conditions For Renewal Of Expired or Expiring Practice License

ICAN Conditions For Renewal Of Expired or Expiring Practice License

Members wishing to renew their expired or expiring license should apply to the institute stating compliance with the following terms and conditions of the license renewal process:

1. The Member must be Financially up to date.

2. Evidence of payment of license renewal of N15,000.

3. Membership of a district society- should indict the district. The institute will confirm.

4. Must have a minimum of 90 MCPE credit hours for the last three (3) consecutive years.

5. State whether the firm where the applicant is practicing is Registered with ICAN or not. Please indicate CAC Registration number of the firm and membership number of the principal partner.

6. If a sole practitioner, is there a program/policy in place to ensure continuity or not? applicants to state their position in the application letter.

7. If there is partnership, applicants should state whether or not there is partnership agreement.

8. Applicant should state whether or not the firm has Professional indemnity.

9. State whether or not the firm has minimum infrastructural requirement namely:
a. A minimum of two rooms
b. Personal computer
c. Printer
d. Library
e. Facility for secretary

10. Whether or not the applicant is a partner in more than one firm.

11. Where applicable, applicant should state whether or not all the deficiencies identified during the last the last practice review has been satisfactorily disposed of where applicable, applicant should show evidence of how deficiencies noted have been rectified.

12. The Member must have satisfied any other condition(s) that might be stipulated by the institute from time to time.

The application letter including a copy of the expired or expiring Practice license should be submitted to:

The registrar/Chief executive
Attention: HOD/ Professional practice
The institute Of Chartered Accountants Of Nigeria,
82, Murtala Muhammad way,
Ebute-Metta Lagos
For further enquiries please call: 09053847524

ICAN Conditions For Renewal Of Expired or Expiring Practice License

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