ICAN Exam Fees 2021 and Registration Details

Filed in Articles by on July 13, 2021 0 Comments

ICAN Exam Fees: What is your plan as an accountant? Would you love to be recognized as a chartered accountant? Then you must register for ICAN. However, you should be aware of the ICAN exam fees before thinking of the registration. This article will guide you on how to register for ICAN, and other important information.

ICAN Exam Fees and Registration Details

ICAN Exam Fees  and Registration Details

What is ICAN?

ICAN is the acronym for the Institute of Chartered Accountants of Nigeria. It is a professional accountancy body in Nigeria. And it was established in 1965. Also, it is one of the two professional accountancy associations with the regulatory authority in Nigeria.

ICAN was created with the sole purpose of encouraging professionalism in the accountancy profession in Nigeria. Also, it started with 250 members. But today has developed to over 35,000 members.

Furthermore, its mission statement is “to produce world-class chartered accountants, regulate and continuously enhance their ethical standards and technical competence in the public interest”. ICAN is the most recognized Accounting professional body in Nigeria.

Requirements for ICAN Registration

Below are the registration requirements for ICAN:

  1. A university degree or Higher National Diploma from any ICAN accredited Polytechnic.
  2. Also, o’level result with at least five (5) credits.
  3. Additionally, a recent passport photograph.

How to Register for ICAN

There are three ways you can register for ICAN.

  1. You can register as a professional student.
  2. Also, as an Accounting Technicians Scheme West Africa (or ATSWA) student.
  3. Additionally, as a member.

Registering in ICAN as a Professional Student

To register under ICAN as a professional student, follow this information:

  1. Visit any commercial bank in Nigeria and pay the professional examination registration fee of ₦7,000 (not including any charges) via Pay Direct. You can also pay on the ICAN website.
  2. After you have paid the fee, go to the website indicated on your receipt and register there.
  3. Also, get a colored passport photograph of yourself. Scan it and add it to the registration form.
  4. Also, print the completed application form and sign it.
  5. Furthermore, find a chartered accountant sponsor/referee and provide their name, membership number, and contact number.
  6. Take your completed application to your sponsor/referee so that they can certify it.

However, if you are registering using your AAT results, you will also need to pay ₦23,500 for induction/conference and add the receipt to your application.

In addition to that, you will need to attach the original PIN voucher, original Pay Direct receipt, and two certified copies of passport photos. After that, your registration will be complete.

Unique Privileges for ICAN Members

Over time, the profession of Accounting has been known as one of the most reputable professions in the world. This is due to so many reasons. Apart from it been a recognized profession, it is also a profession that gives you an opportunity to be self-employed.

Also, there are privileges that come with being a member of ICAN. They are:

1. Global Recognition

With this qualification, you can work anywhere as an accountant. Thus, you don’t need to be tied down in a particular country because you felt your B.Sc. or HND would not be accepted in other countries.

Also, with this certification, you can practice anywhere and be recognized. No other career offers the mobility that a Chartered Accountancy’s qualification does.

2. Self-Employ-ability

Chartered Accountants generally have a solid foundation in economics, marketing, and management information systems. As an accountant, you can take on the role of a business advisor.

Also, you can help at driving business, improving profit margins, and increasing market share for their clients/employers.

Furthermore, many Chartered Accountants also use their expertise to form their own businesses, becoming highly successful entrepreneurs.

How to Register Yourself for ICAN

  1. Obtain a PIN voucher from Zenith/Fidelity Bank.
  2. Use the information on the PIN voucher to log on ICAN website that would be written on the voucher you bought from the bank.
  3. Click on Students’ Professional Registration and fill in your data on the form.
  4. Also, obtain a colored passport photograph of yourself. And scan the passport photograph on the form.
  5. Click twice on submits to submit the application online.
  6. Print out a copy of the application form.
  7. Also, append your signature.
  8. Get a chartered accountant as your referee/sponsor.
  9. Also, provide his/her membership number, name, and phone number.
  10. Take the printed copy of the completed application form and the photocopy of your credentials to your Referee/Sponsor for certification.

Attach the following:

  • Original copy of the pin voucher.
  • Also, two copies of signed/certified passport.
  • Original copy of the bank teller.
  • Completed filled form on the net

Package everything and send it down to ICAN head office in Lagos for consideration.

ICAN Exam Fees 2021

For the ICAN exam, you are to pay a non-refundable amount to the bank. However, in the case of registering with the AAT result, you will be required to pay N23, 000 to the bank.

Also, ensure you obtain a Pin/Voucher from the bank and your scanned passport. Additionally, applicants will have to stamp the application with a stamp obtained from the post office

With the above information, you should be able to register for the ICAN exam easily.

Hope you find it interesting and useful. If you have comments, questions or just want to discuss, do not hesitate to leave a comment. Use the share buttons below to share this information with your friends on Facebook, Twitter, WhatsApp, and other social platforms.

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