ICAN Moves to Grant More Exemptions To Accounting Graduates From Deserving Institutions

The Institute of Chartered Accountants of Nigeria (ICAN) has taken another step towards awarding more subject-exemptions to graduates of deserving accredited institutions.

The Institute has planned to achieve this through a new programme known as MCATI. MCATI is an acronym for Mutual Cooperation Agreement with Tertiary Institutions.

By this, out of the fifteen (15) subjects that are written in the graduate stages of its professional examinations based on the new (2019) syllabus, graduates from Institutions where this agreement exist will now sit for only five (5) subjects (i.e only final level of the Institute’s examinations).

The basis of these additional exemption for the graduates of the deserving institutions is, according to ICAN, the subjects would have been thoroughly taught by the accredited institutions who sign in. Thus, ICAN sees it worthwhile to grant more exemptions to graduates of such institutions provided they abide by the agreement.

The subjects as per the new (2019) syllabus are as follows:

Foundation Level
1. Taxation
2. Business, Management and Finance
3. Financial Accounting
4. Management Information Systems
5. Business Law 

Skills Level
1. Financial Reporting
2. Audit and Assurance
3. Corporate Strategic Management & Ethics
4. Performance Management
5. Public Sector Accounting and Finance

Professional Level (Final Stage)
1. Corporate Reporting
2. Advanced Audit and Assurance
3. Strategic Financial Management
4. Advanced Taxation
5. Case Study

By the MCATI, accounting graduates from deserving institutions will sit for only the five (5) papers in the final level of the institute’s examinations.

As of May, 2019, the following institutions have been enrolled in the MCATI with ICAN based on the information gathered on the Institute's website accessed by us.

1. Babcock University, Ilishan, Ogun State
2. Caleb University, Imota , Lagos
3. Convenant University, Ota, Ogun State
4. Elizade University, Ilara-Mokin
5. Federal University, Wukari
6. Joseph Ayo Babalola University, Ikeji-Arakeji,Osun State
7. Northwest University, Kano
8. Osun State University, Okuku
9. PAN Atlantic University, Lagos
10. University of Benin, Benin –City, Edo State
11. Abia State Polytechnic, Aba
12. Police Academy, Kano