endsarrrs:
The last time i checked, ICAN/ANAN certified ACCOUNTANT GENERAL OF NIGERIA was accused of stealing 80 BILLION NAIRA

Thieves!

Gbamsulotely, end of thread

Ok. If you have ACCA in Nigeria, you also have to be a member of ICAN before you can derive the full benefit of your certification. In order for ACCA to become ICAN members, they have to write some ICAN papers as well. So it is not an upgrade as such in terms of superiority or inferiority.

In the UK, you can practice with the ICAEW. With your ICAN membership , you don’t have to write any exam to gain the ICAEW. In most countries, you just have to write very few of the locally developed syllabus such as Advanced Taxation in order to become a member of their local chartered accountancy body. It's not exactly so with ACCA. You don't have to write any such locally developed syllabus to become a member of ACCA or ICAEW. Most ACCA holders don't even have the advantage that comes with being a member of the ICAEW because they wrote the international variant of the ACCA and so cannot reach the pinnacle of their career say as audit partners if they choose to practice in the UK. They needed to write the ACCA UK variant in Advanced Audit and Strategic Business Reporting.

Even if you are a member of ICAEW; if you are interested in becoming ACCA, you would write the same number of papers that ICAN members needed to obtain the ACCA certification. ICAN is a member of IFAC and CAW among other global chartered accountancy bodies.

A CPA holder is useless in most of EUROPE and most of the world. Most countries are IFRS compliant however ACA is not an upgrade or superior to CPA despite you having to write ICAN papers in addition to your CPA in order to practice in Nigeria.

Most countries have similar arrangements. So the CPA holder does not know the accounting and audit standards that are prevalent in much of the world (IFRS and ISA) . So there is no superiority or inferiority as such. It’s only normal and expedient what is obtainable and it goes either ways.

In fact, none of the big 4s have their headquarters in the US or in Canada. It’s the same way you have the Nigeria office, that you have the US office.

Universal recognition is the better basis. CPA is superior in the USA or Canada. In Nigeria, ACA is superior. In the US, you can have CPA from a state and you will not be allowed to practice in another state in the US. For global universal recognition, IFRS and ISA are most prevalent. Which is the core of ICAN and ACCA; but of Coz, the a significant % of the top 500 companies are in the US.

Is the CPA more rigorous?
How rigorous it is, will be in the course content or in the elaboration of the course content and how easy it is to pick marks.
To write ACCA or ICAN averagely requires 3000 hours while the CPA test itself requires an average 150 hours. The CPA exam itself has 4 sections which is Audit, business environment, Financial accounting/reporting, and regulation... and 50% of all of the exams is multiple choice.
Of coz, one easily sees that this is just like a level in ACCA. So, other exams that they should write, it is expected to have been examined in their prior qualifications which is called the ‘masters degree equivalent’.

The rigour in ACCA or ICAN, is that you having a masters degree is not sufficient to get you such exemptions that the CPA would suggest you have. CPA has less processes and defers what you may find in ACCA to a CFA. And in no way, am I trying to diminish how rigorous the CPA exam is.

Generally you have more graduates and educated fellows than had decades ago. MSC and MBA are no longer scarce as more people have the opportunity of obtaining it. However, being a chartered accountant is always relevant; in most private organizations, it would project you further.

It is ignorant to compare ACCA/ICAN or CPA with CFA. The scope of the former is much wider. The CFA is chiefly for finance; it’s scarce and so very valuable. The reason why the CFA is scarce is besides being rigorous, the exam is very expensive. In a highly credentialised nation like Nigeria, you would have many CFA if the cost of the exam is very affordable and more accessible; but the CFA has high barriers of entry and so has retained its value significantly. However, despite such value, you cannot use your CFA anywhere in the world to become an audit partner. The organizations that needs CFA’s are very minimal in numbers and you would not earn the opportunities that being a chartered accountant affords by being a CFA. Anyone can be an accountant and anyone; even a medical doctor can be a financial analyst. However, there are certain regulations that requires strictly the consent of chartered accountants.

There is no need to convince anybody really of the relevance of acquiring professional certifications; if you are entering labour market, you would come to appreciate what advantage it may afford sooner. Most of the contents is in response to those diminishing ICAN and even the ACCA.

If it's not STEM related, count me out.

It's not about bagging the degree or certificate, application matters.

I have seen a bunch of guys with ICAN and ANAN certifications and I begin to wonder if na non appearance dem take run am.

GRAMMARJAMES:
Why na . It's not o. I've been writing AUDIT for over 2 years now, still I haven't passed.. only paper keeping me to be qualified.. I wanted to give up when results came out yesterday but looking at how far I've came, I'll just Keep pushing hoping I'll make it come November Diet..

My is CR and CS oo:
November Diet On God's Grace:

Covenant97:
Good day fellas!!

Early this morning I log into my LinkedIn account and on my newsfeed I saw series of congratulatory messages and inspiring quotes from peeps on the ICAN results that just got released...

Although, I was happy for them, at least it’s time to enjoy the reward of their handwork and investment paid off...but while on this, my mind was troubled not for bad reasons though, but in that the number of graduating chartered accountant are way high in there numbers and some student still in school are veering to get chartered as well...with this in mind I began to question myself if ICAN as it is today is still worth it or just overrated given the basic law of demand and supply...more chartered accountant plunging into the system with few but highly competitive job around..what does the future hold for this peeps......

Conversely, began to notice that most people who became chartered and those who are one day looking forward to be one are doing for The grams, to feel among, to impress friends and family that they are smart as most saw that only a genius can pass the exam according to them....

The craze to feel counted and ego boosted( not all though) has made the profession too saturated leading most accountant unemployed or underpaid( the ones who saw it as their career life goals)....

With this in mind is the ICAN journey a worthy to embark on( for who who are yet to, myself inclusive) or is it just overrated...

Ps on the level of difficulty attach to the exam how true is it.. for those who has written... I have seen and come across peeps who brag about its difficulty in a bid to make themselves special and downplay the efforts of others who had failed in the exam... this is particularly common among the current crop of ACA...

It there a secret or special kind of strategy and approach one need to know or failed to know that makes the ICAN look as if it’s only surmountable by the genius alone....

I come in peace......

....just like the adage.. if education is too expensive try illiteracy then you will know the difference.
I'm an engineer but it pays to be a chattered professional in your choosing field.

JoshTim:
ICAN is never overated. I am writing ICAN and am still learning data science. When am done coupled with the experience have garnered, i will be demanding 800k as salary. E no easy to get B.sc. M.Sc. ICAN, cognate experience and Data Science skills o.

Same Qualifications Here But Data Sciences is Suspended until My ICAN is Completed:

I think it's about the stuff being oversaturated. Gone are the days ICAN guys were balling in money, I had some of them very close to me.

Now, someone else is willing to be very cheap if you charge high

ppogba:


Who told you the board started in the early 90s?

A simple search would have saved you from exhibiting your ignorance on a world wide scale.

You can be constructive and polite at the same time. Anonymity is should not be a ticket for your rudeness.
God bless you

You see this life, you can never please humans especially NIGERIANS. We are worse than the children of Israel who provoked God multiple times with their excessive and impatient requests.


I won't be shocked that this OP is an outsider in the profession: he hasn't written any of the exams before.

There was a time frame the general results were so bad. People even gave tribal and ethnic dimension to the results that it was created to favour the Yorubas which was wrong. I am a south south person. Many aggrieved students members collaborated and wrote to the national assembly under Chuba okadigbo and David marks regime but no response.



The turning point was when ACCA invaded the Nigerian market aggressively showcasing the benefits of enrolling with them. The pass rate was boooooom. Students saw an alternative the " frustrating ICAN".ICAN responded by re evaluating the curriculum to meet international standards and opened up it's procedures. Redesigned it's study packs. Viola students started doing well. Only those who had abraod ambition consider ICAN.



Juxtapositically, ICAN is a more tougher exam compared to ACCA. ACCA splits it's finance paper into F9 and P4 . ICAN Meger both into a single paper called SFM. Literally, you are doing two papers in one while our counter parts in the UK are doing it in piecemeal.



This are my observations, this few years that we have witnessed massive churn out of chartered accountants. One significant factor has remained relatively constant which is the emergence of ICAN tuition rabbai.


I know how umthe understanding of IFRS was like Greek and Latin. I read it on my own Omo no where. When I came across Teach yourself group accounting and IFRS by Casmir . Infact my head popped open. I didn't attend any physical classes to ace my FR and CR papers without sweat. Mr Nkiri in Calabar helped me pass dreaded PM at skills stage . His uncommon explanation dymstified the papers like mad to me.


This OP is an absolute reflection of the crazy mentality Africans carry due to the impact colonial oppression has had on us. African now see life from the harder perspective. The slavery mentality sold through generations to generations that reached this OP deserves an Oscar or a balloon dor.

See the way foreigners ace their ACCA papers and get certified. You didn't complain. Your brothers and sisters are doing the same now it's generating bitterness in you like kainji dam.
Why do we wish things to be difficulty for ourselves. Third party Working experience with Britons and US shows how they make life easier. But your own is different for bad.


I know Nigerias problem is not an Abuja problem. Until we as a people get our thinking faculty right to celebrate people then blaming the politicial class will be an eternal exercise. Tommorow laidis na you go dey front seat for church or on Friday lead the prayer row in the mosque but in yuur mind you wish things should be Very very sweaty for Nigerians. What a fallacy.

ICAN has not reduced her standards at all.Many of those you see on LinkedIn celebrating their achievements failed over and over to get it.Some even gave up at some point.You don't know their travials,their private tears,how much they spent but you have energy to stay behind your keyboard and type nonsense all because you want a front.

I am even disappointed at your tertiary education sef.What education should have done to you is to make you research minded.I expected a more factual post based on objective findings through empirical means of questionings and interviews.Than spewing rubbish from your dirty mind.


Tommorow if ICAN deliberately starts to complicate matters it's same you that will create hastags on social media #JusticeForIcanStudents.etc.Politicians have studied your type well and know this people don't wish good for themselves so let's milk the common wealth to our benefit and at their expense.

I was even thinking you will expound on vital issues in the process like students not focusing on passing exams alone as work place demand is different from the exams . realignment of focus on integrating tech into the profession.


I really pity the future of black Africa with the current bandwidth of mentality.

You see this life, you can never please humans especially NIGERIANS. We are worse than the children of Israel who provoked God multiple times with their excessive and impatient requests.


I won't be shocked that this OP is an outsider in the profession: he hasn't written any of the exams before.

There was a time frame the general results were so bad. People even gave tribal and ethnic dimension to the results that it was created to favour the Yorubas which was wrong. I am a south south person. Many aggrieved students members collaborated and wrote to the national assembly under Chuba okadigbo and David marks regime but no response.



The turning point was when ACCA invaded the Nigerian market aggressively showcasing the benefits of enrolling with them. The pass rate was boooooom. Students saw an alternative the " frustrating ICAN".ICAN responded by re evaluating the curriculum to meet international standards and opened up it's procedures. Redesigned it's study packs. Viola students started doing well. Only those who had abraod ambition consider ICAN.



Juxtapositically, ICAN is a more tougher exam compared to ACCA. ACCA splits it's finance paper into F9 and P4 . ICAN Meger both into a single paper called SFM. Literally, you are doing two papers in one while our counter parts in the UK are doing it in piecemeal.



This are my observations, this few years that we have witnessed massive churn out of chartered accountants. One significant factor has remained relatively constant which is the emergence of ICAN tuition rabbai.


I know how umthe understanding of IFRS was like Greek and Latin. I read it on my own Omo no where. When I came across Teach yourself group accounting and IFRS by Casmir . Infact my head popped open. I didn't attend any physical classes to ace my FR and CR papers without sweat. Mr Nkiri in Calabar helped me pass dreaded PM at skills stage . His uncommon explanation dymstified the papers like mad to me.


This OP is an absolute reflection of the crazy mentality Africans carry due to the impact colonial oppression has had on us. African now see life from the harder perspective. The slavery mentality sold through generations to generations that reached this OP deserves an Oscar or a balloon dor.

See the way foreigners ace their ACCA papers and get certified. You didn't complain. Your brothers and sisters are doing the same now it's generating bitterness in you like kainji dam.
Why do we wish things to be difficulty for ourselves. Third party Working experience with Britons and US shows how they make life easier. But your own is different for bad.


I know Nigerias problem is not an Abuja problem. Until we as a people get our thinking faculty right to celebrate people then blaming the politicial class will be an eternal exercise. Tommorow laidis na you go dey front seat for church or on Friday lead the prayer row in the mosque but in yuur mind you wish things should be Very very sweaty for Nigerians. What a fallacy.

ICAN has not reduced her standards at all.Many of those you see on LinkedIn celebrating their achievements failed over and over to get it.Some even gave up at some point.You don't know their travials,their private tears,how much they spent but you have energy to stay behind your keyboard and type nonsense all because you want a front.

I am even disappointed at your tertiary education sef.What education should have done to you is to make you research minded.I expected a more factual post based on objective findings through empirical means of questionings and interviews.Than spewing rubbish from your dirty mind.


Tommorow if ICAN deliberately starts to complicate matters it's same you that will create hastags on social media #JusticeForIcanStudents.etc.Politicians have studied your type well and know this people don't wish good for themselves so let's milk the common wealth to our benefit and at their expense.

I was even thinking you will expound on vital issues in the process like students not focusing on passing exams alone as work place demand is different from the exams . realignment of focus on integrating tech into the profession.


I really pity the future of black Africa with the current bandwidth of mentality.

Covenant97:
Good day fellas!!

Early this morning I log into my LinkedIn account and on my newsfeed I saw series of congratulatory messages and inspiring quotes from peeps on the ICAN results that just got released...

Although, I was happy for them, at least it’s time to enjoy the reward of their handwork and investment paid off...but while on this, my mind was troubled not for bad reasons though, but in that the number of graduating chartered accountant are way high in there numbers and some student still in school are veering to get chartered as well...with this in mind I began to question myself if ICAN as it is today is still worth it or just overrated given the basic law of demand and supply...more chartered accountant plunging into the system with few but highly competitive job around..what does the future hold for this peeps......

Conversely, began to notice that most people who became chartered and those who are one day looking forward to be one are doing for The grams, to feel among, to impress friends and family that they are smart as most saw that only a genius can pass the exam according to them....

The craze to feel counted and ego boosted( not all though) has made the profession too saturated leading most accountant unemployed or underpaid( the ones who saw it as their career life goals)....

With this in mind is the ICAN journey a worthy to embark on( for who who are yet to, myself inclusive) or is it just overrated...

Ps on the level of difficulty attach to the exam how true is it.. for those who has written... I have seen and come across peeps who brag about its difficulty in a bid to make themselves special and downplay the efforts of others who had failed in the exam... this is particularly common among the current crop of ACA...

It there a secret or special kind of strategy and approach one need to know or failed to know that makes the ICAN look as if it’s only surmountable by the genius alone....

I come in peace......

DonroxyII:
Same Qualifications Here But Data Sciences is Suspended until My ICAN is Completed:

You can dedicate 1hr daily to it than leaving it till you finish ICAN.

Bsc , masters and ican are now overrated. Because too many people are doing them

ICAN is in competition with ANAN that's why the modus operendis change, they are both struggling to get members and to extort from their members huge sum of money.

HORLADY:
ICAN is not overrated my brother. While there are gifted/ genius who successfully qualified in two diets, a lot of peeps like me spent 4yrs(8diets) to achieve same feat. I am not where I want to be yet, but I won't be where I am today if I have not qualified as a Chartered Accountant 2yrs ago. Today, I discuss with State Governor, Commissioners and Men of Substance because of ICAN certificate in my kitty.

The calibre of people that occupy the positions you mentioned are old school felas. They know nothing about modern technology. Yes they only know how to type and send emails with a computer. Go to Fluterwave for instance and say you're a chartered accountant and see if they will not all burst into laughter.

ICAN is still relevant although it has lost it's past glory

JoshTim:

You can dedicate 1hr daily to it than leaving it till you finish ICAN.

I have other Engagements. It's not Overload but One at a Time for Now: Possibly Other Advanced Qualifications with Data Sciences combined!

In Buhari's regime all profession are useless. Imagine a professor serving a supposedly WAEC holder for almost 8 years now and the country is not moving forward

FalseProphet1:
Yes o it's overrated.

This I have seen.

Hahahhahahaha

DonroxyII:
I have other Engagements. It's not Overload but One at a Time for Now: Possibly Other Advanced Qualifications with Data Sciences combined!

Good!, If it works for you.

diplomat058:
A certificate that makes you eligible for practice in the UK and some other countries. You call it overrated? So many kids on this forum

Is not possible bro, any professional certificate you get in Nigeria is only relevant in Nigeria, like Law school, Medical school, ICAN, BL for you to be qualified overseas you have to write and pass their exams again simpLE

teejoyz:
Stupid question,why don't you go and try your luck first.ACA holders are not even up to 70k both living and the dead.A country like Nigeria should have up to 200 ACAs. Do you know how many doctors, lawyers , certified Engineers and other professions we have in Nigeria. Government ministries and agencies in all the tiers of government can even absorbed all of them not to even talk abt big companies,SMEs

What do you mean government agencies can absorb all of them? Can or can't??

endsarrrs:
The last time i checked, ICAN/ANAN certified ACCOUNTANT GENERAL OF NIGERIA was accused of stealing 80 BILLION NAIRA

Thieves!

why not say what you know. The accountant general is not an ICAN member.

Is Project Management Professional (PMP) certification relevant for those wishing to relocate abroad?

Hassanmaye:

Is not possible bro, any professional certificate you get in Nigeria is only relevant in Nigeria, like Law school, Medical school, ICAN, BL for you to be qualified overseas you have to write and pass their exams again simpLE

. You missed it. You will only write those paper where there laws and legislations differ from that of Nigeria.
Also if you have foreign accounting professional qualifications and you needed ICAN you still have to write some papers on where our laws differ, a good example is taxation.

Covenant97:
Good day fellas!!

Early this morning I log into my LinkedIn account and on my newsfeed I saw series of congratulatory messages and inspiring quotes from peeps on the ICAN results that just got released...

Although, I was happy for them, at least it’s time to enjoy the reward of their handwork and investment paid off...but while on this, my mind was troubled not for bad reasons though, but in that the number of graduating chartered accountant are way high in there numbers and some student still in school are veering to get chartered as well...with this in mind I began to question myself if ICAN as it is today is still worth it or just overrated given the basic law of demand and supply...more chartered accountant plunging into the system with few but highly competitive job around..what does the future hold for this peeps......

Conversely, began to notice that most people who became chartered and those who are one day looking forward to be one are doing for The grams, to feel among, to impress friends and family that they are smart as most saw that only a genius can pass the exam according to them....

The craze to feel counted and ego boosted( not all though) has made the profession too saturated leading most accountant unemployed or underpaid( the ones who saw it as their career life goals)....

With this in mind is the ICAN journey a worthy to embark on( for who who are yet to, myself inclusive) or is it just overrated...

Ps on the level of difficulty attach to the exam how true is it.. for those who has written... I have seen and come across peeps who brag about its difficulty in a bid to make themselves special and downplay the efforts of others who had failed in the exam... this is particularly common among the current crop of ACA...

It there a secret or special kind of strategy and approach one need to know or failed to know that makes the ICAN look as if it’s only surmountable by the genius alone....

I come in peace......

I am not an accountant, but…
Why do many Nigerians act as if everything is by force?

If people don’t want to be “chartered”, they don’t have to be…
But as the economy grows and gets more sophisticated, chartered accountants will do better.

It’s a shame most Nigerians can barely look beyond their nose past the immediacy…
But, generally, and regardless of profession, MORE knowledge and skills is always a BETTER thing!
>

[quote author=Cadillac15 post=114147404]

Yes. When I was still working in Nigeria, several POS agents that I personally knew had ICAN.

Oneof them even created business card and was using it to oppress.

And thing is they all went into business after they got tired of the labour market.

Omg I'm shocked to hear this. ACA POS agent honestly I doubt

Moh247:




No knowledge is over rated, no certificate is over rated

If you think certificate is over rated go and see what our olodo Politicians are going through to get certificate like Buhari and Adeleke


On a more serious note, go and get a master's degree in Business Administration or Economics while you get you ICAN side by side

Powerful Artificial intelligence softwares are taking over Accounting Profession slowly and you need to display more competence in business world to get a job

Take a look at QuickBooks packages, there is no accounting for small business that it can't handle


.

MBA is overrated as well. Go get an MSC in your field.

Moh247:




No knowledge is over rated, no certificate is over rated

If you think certificate is over rated go and see what our olodo Politicians are going through to get certificate like Buhari and Adeleke


On a more serious note, go and get a master's degree in Business Administration or Economics while you get you ICAN side by side

Powerful Artificial intelligence softwares are taking over Accounting Profession slowly and you need to display more competence in business world to get a job

Take a look at QuickBooks packages, there is no accounting for small business that it can't handle


.

Good point

HORLADY:
ICAN is not overrated my brother. While there are gifted/ genius who successfully qualified in two diets, a lot of peeps like me spent 4yrs(8diets) to achieve same feat. I am not where I want to be yet, but I won't be where I am today if I have not qualified as a Chartered Accountant 2yrs ago. Today, I discuss with State Governor, Commissioners and Men of Substance because of ICAN certificate in my kitty.

Makes sense

GRAMMARJAMES:
Why na . It's not o. I've been writing AUDIT for over 2 years now, still I haven't passed.. only paper keeping me to be qualified.. I wanted to give up when results came out yesterday but looking at how far I've came, I'll just Keep pushing hoping I'll make it come November Diet..

Please don't give up you're very close to your success.

God bless Nigeria!

Moh247:



My emphasis was on small businesses and even at that they need a professional from time to time to get their books right for tax and loan applications

However the demand is getting low

Low?

This is from the US 4 months ago.

The US is an AI powerhouse.

https://news.bloombergtax.com/financial-accounting/accountant-shortage-resignations-fuel-financial-reporting-risks

The fire go touch every where he don touch ICAN they have been compromised

Covenant97:
Good day fellas!!

Early this morning I log into my LinkedIn account and on my newsfeed I saw series of congratulatory messages and inspiring quotes from peeps on the ICAN results that just got released...

Although, I was happy for them, at least it’s time to enjoy the reward of their handwork and investment paid off...but while on this, my mind was troubled not for bad reasons though, but in that the number of graduating chartered accountant are way high in there numbers and some student still in school are veering to get chartered as well...with this in mind I began to question myself if ICAN as it is today is still worth it or just overrated given the basic law of demand and supply...more chartered accountant plunging into the system with few but highly competitive job around..what does the future hold for this peeps......

Conversely, began to notice that most people who became chartered and those who are one day looking forward to be one are doing for The grams, to feel among, to impress friends and family that they are smart as most saw that only a genius can pass the exam according to them....

The craze to feel counted and ego boosted( not all though) has made the profession too saturated leading most accountant unemployed or underpaid( the ones who saw it as their career life goals)....

With this in mind is the ICAN journey a worthy to embark on( for who who are yet to, myself inclusive) or is it just overrated...

Ps on the level of difficulty attach to the exam how true is it.. for those who has written... I have seen and come across peeps who brag about its difficulty in a bid to make themselves special and downplay the efforts of others who had failed in the exam... this is particularly common among the current crop of ACA...

It there a secret or special kind of strategy and approach one need to know or failed to know that makes the ICAN look as if it’s only surmountable by the genius alone....

I come in peace......

endsarrrs:
The last time i checked, ICAN/ANAN certified ACCOUNTANT GENERAL OF NIGERIA was accused of stealing 80 BILLION NAIRA

Thieves!

This isn't true, ican came out to say, the accountant general wasn't Ican certified.

No human in his right senses would steal such amount of money, i feel that accountant general has a mental problem.