ICAN reviews its syllabus, targets better capacity for Accountants

In a swift response to Nigeria’s evolving business clime, the Institute of Chartered Accountants of Nigeria (ICAN) has reviewed its syllabus to ensure its new professionals are well equipped to meet current demands of the accounting profession.

The newly reviewed syllabus will take effect from November 2014, the institute revealed, pointing out that the review had become imperative as a result of the need to respond to the dynamism of the profession and also reposition the institute as one of the leading professional accountancy bodies in the continent.

Speaking at a sensitisation forum for students on the new professional examination syllabus in Lagos, Chidi Ajaegbu, president, the Institute of Chartered Accountants of Nigeria (ICAN) revealed that the new syllabus was informed by the need to include new developments in the profession in its certification processes and to also ensure the new professionals are at par with international counterparts.

“We currently have a relationship with the Institute of Chartered Accountants in England and Wales. Hence, we need to ensure the students we produce are benchmarked with best practices worldwide and one sure way of doing this is by constantly reviewing our syllabus, “Ajaegbu explained.

According to him, other measures being employed by the institute to ensure its professionals stay afloat in an ever changing business environment is by embedding themselves in Lifelong learning programmes where professionals are expected to meet certain number of learning hours yearly if they must remain a member of the institute.

“At ICAN, we are not resting on our laurels or past glories but continuing proving to ensure that the institute’s certification remains the desired career choice for accountancy profession,” the institute’s president affirmed, adding that the Institute has enthroned excellent resources to ensure its leaning outcomes match with the best global brands.

“We have benchmarked our study materials with international standards with a view of producing skilled professional accountants and business ready managers,” he added.

The new curriculum was developed into a three-stage qualifying examination structure with each stage boasting of five subjects except Skills level which has six subjects.

As part of the institute’s strong believe that corporate leaders should continuously demonstrate integrity, ethics have also been retained in the new syllabus as a way of rebuilding the public’s confidence on the profession.

Also, the new syllabus which is now more flexible by allowing candidates write one or two subjects in a particular level equally saw Case studies re-introduced to boost versatility of candidates in the profession.

The president also revealed that in the new syllabus, some subjects have been integrated while others bear different nomenclature, however, the content of the subject remain the same.

Sunday Bammeke, chairman, students’ Affairs committee also disclosed that as it is a customary practice, when the institute revises its syllabus, a convenient and feasible scheme of conversion from the old to the new syllabus would be provided by students who will be caught midstream by the change.

ODINAKA MBONU