A Review Of New Rules And Regulations In The New ICAN Syllabus 2019

PREAMBLE TO THE SYLLABUS
This syllabus is designed to help candidates plan their studies and provide detailed information on what could be assessed in any examination diet.

Structure of the syllabus

a. LINKAGE WITH OTHER SUBJECTS 
Each diagram depicts the relationship between a subject and other subjects. Some subjects are pre-requisites while some are follow-ups to other subjects.

B. AIM OF THE SYLLABUS
It illustrates the overall objective of each subject and shows the competencies to be acquired.

c. MAIN COMPETENCIES
The aim of each subject is broken down into main competencies which divide the syllabus into distinct sections.

d. LINKAGE OF THE MAIN COMPETENCIES
Each diagram illustrates the linkage among the main competencies of the syllabus. This is to assist candidates studying for the examination.

e. ETHICAL CONSIDERATIONS AND PROFESSIONAL JUDGEMENT
A professional accountant is expected to demonstrate: integrity; objectivity; professional competence and due care; confidentiality; and professional behaviour. Therefore, this syllabus incorporates ethical considerations into all aspects of the training of chartered accountants. Candidates are expected to apply the fundamental principles of ethics and exercise professional judgement to their day-to-day activities.

STRUCTURE OF THE SYLLABUS
With effect from November 2019 diet, the professional examination of the Institute under this syllabus consists of the following three levels: Foundation; Skills; and Professional.
A Review Of Rules And Regulations In The New ICAN Syllabus 2019


EDUCATIONAL RECOGNITION
ICAN is a founding member of IFAC, so this syllabus complies with International Accounting Education Standards Board’s Educational Standards & Guidelines. The Institute seeks to enhance the educational recognition of its qualifications at both 
national and international levels. In doing so, ICAN aims to ensure that they are recognised and valued by governments, regulatory authorities and employers across all jurisdictions and sectors. 

EXAMINATION CENTRES
The Institute has examination centres in the following locations for the time being: Aba; Abakaliki; Abeokuta; Abuja; Ado-Ekiti; Akure; Asaba; Awka; Benin-City; Calabar; Enugu; Gombe; Ibadan; Ikeja1; Ikeja2; Ikeja3; Ikorodu; Ilesa; Ilisan-Remo; Ilorin; Jalingo; Jos; Kaduna; Kano; Keffi; Lagos-Amuwo; Lekki; Lagos - Unilag; Lagos - Victoria Island; Lokoja; Maiduguri; Makurdi; Minna; Mowe/Ibafo ; Ogbomoso; Ojo; Osogbo; Onitsha; Ota; Owerri; Port Harcourt; Sokoto; Umuahia; Uyo, Warri; Yenagoa; Yola; Zaria; Buea (Cameroun); and London (U.K).
NOTE: Council reserves the right to approve new examination centres and close existing ones as it deems fit.

CLOSING DATES OF ENTRIES
Entries for examinations would close two weeks before the examination dates.

EXAMINATION ENTRY
No person may be allowed to sit any of the Institute’s examination unless he/she had
been registered as a student of the Institute and had paid the required annual
subscription and applicable examination fees.

EXAMINATION RESULTS
The results of the examination will be communicated to candidates by post, sms, e-mail and hosted on the Institute’s website. Further correspondence relating to individual results may not be entertained. However, a candidate may request for a review of his/her script, subject to meeting the conditions set out by the Council of the Institute. Candidate’s score in each subject will be indicated on the result slip.

CREDIT SYSTEM
a. Candidates writing the examination may register for any number of papers at a level and shall be credited with each paper passed. However, they are expected to complete the examination at a level before attempting papers at a higher level.
b. Candidates are not allowed to combine two levels of the examinations.
c. Candidates are required to complete the Professional level of the Institute’s qualifying examination within a period of ten diets. In the event of a student not completing the Professional level examination within the period of ten diets, he/she is deemed to have forfeited all the papers passed and credited to him/her at this level.

PASS MARK
The pass mark for each paper of the Institute’s examination is 50%.

CONVERSION ARRANGEMENTS
Examination on the basis of this syllabus will commence in November 2019. No candidate may proceed to the next level of the examination without successfully completing all the subjects in the preceding level. However, any Skills level candidate taking Taxation (now at the Foundation level) will be allowed to combine this subject with other subjects at the Skills level.

Conversion from the old to the new syllabus is as stated hereunder:
A Review Of Rules And Regulations In The New ICAN Syllabus 2019


CONVERSION TABLE
A Review Of Rules And Regulations In The New ICAN Syllabus 2019

NOTE: 
Candidates are expected to migrate to 2019 syllabus effective November 2019, in line with the above conversion arrangement.

PROFESSIONAL EXAMINATION TIME TABLE
A Review Of Rules And Regulations In The New ICAN Syllabus 2019

Note: *Case study examination is from 9.00am to 1.00pm

EXAMINATION STRUCTURE 
The examination structure is as stated below:

FOUNDATION LEVEL
Each paper in Foundation level shall consist of two sections A and B
Section A: Shall comprise twenty (20) compulsory multiple-choice questions which shall cover the entire contents of the syllabus. This section shall make up 20% of the total marks.
Section B: Shall comprise six open-ended questions (essay, computational or 
scenario-based) carrying 20 marks each of which candidates will be required to answer any 4.

SKILLS AND PROFESSIONAL LEVELS
Examination at these levels will be in two sections.
Section A. 
A 40-mark compulsory scenario-based question on the core area of the subject.
Section B. 
5 questions of 20 marks each and candidates will be required to attempt any three.
Duration: Each paper will be for three hours with additional fifteen minutes reading time, except Case Study which will be for four hours including reading time.
Pass mark: The pass mark for each ICAN examination subject is 50%.

SKILLS AND COMPETENCIES
The following are the skills and competencies required at the different levels of the examination: 
Level:              Competencies
Foundation:   Knowledge and understanding 
Skills:              Analysis and interpretation
Professional: Evaluation and exercise of                                     professional judgement

GUIDE TO EXAMINATION ASSESSMENT
ICAN reserves the right to examine any topic in the syllabus at any examination diet. All new standards and laws may be examined after six months from the date of issue.

ABSENCE FROM AN EXAMINATION
Examination entries cannot be withdrawn after the closing date in any circumstance. If a candidate is unable to attend the examination, the fees paid will not be refunded nor transferred to subsequent examination.

MISCONDUCT IN AN EXAMINATION
The examination regulations prohibit a student from:
(a) Taking into the examination room or possessing, while in that room, any book, note, programmable calculators, programmable wristwatches, GSM handsets or other materials except those which have been authorised in the examination attendance docket;
(b) Aiding or attempting to aid another candidate, or obtaining or attempting to obtain aid from another candidate;
(c) Refusing to obey any instruction from the examination supervisor, chief invigilator or invigilators;
(d) Giving false ormisleading information to examination officials;
(e) Writing anything on the question paper except the candidate’s examination number; 
(f) Writing anything on the candidate’s examination docket; and
(g) Impersonating another candidate.

Examination officials are empowered to stop any candidate suspected of misconduct and require him/her to leave the examination hall. Any student who fails to comply with the above regulations may be liable to such penalties as the Council of the Institute may determine.

EXEMPTION GUIDELINES
Academic qualifications
A Review Of Rules And Regulations In The New ICAN Syllabus 2019

A Review Of Rules And Regulations In The New ICAN Syllabus 2019

SUBJECT BY SUBJECT EXEMPTION
Subject by subject exemption will be granted to students based on transcripts for qualifications not listed above.

PROFESSIONAL QUALIFICATIONS

EXEMPTION FOR PARTLY QUALIFIED STUDENTS FROM APPROVED FOREIGN PROFESSIONAL INSTITUTES.
Subject for subject exemption will be granted to partly qualified students of approved foreign professional institutes based on transcripts as listed above.

LECTURERS IN HIGHER INSTITUTIONS
Lecturers in accounting departments of ICAN accredited institutions holding B.Sc./HND (Accounting) qualifications shall be given the same level of exemptions/ concession granted to graduates of those institutions.