… sign a memorandum of understanding
By Dayo Adesulu
The Institute of Chartered Accountants of Nigeria (ICAN) on Wednesday announced that it has integrated its program into the undergraduate program in accounting of the National Universities Commission (NUC) at Caleb University, when signing a memorandum of understanding. OK.
Speaking at the MoU signing ceremony, ICAN President Malam Isma’la Mohammadu Zakari said: for the undergraduate accounting program.
According to him, the objective is mainly to deepen the standards and contents of the B.Sc. accounting program as well as the quality of the dissemination of accounting knowledge to students, in order to remarkably improve their learning experiences.
He explained that the separate qualifying exam program is designed to develop candidates’ technical and business knowledge in 16 ICAN subjects, divided into three distinct levels.
The president who argued that passing the ICAN exams would equip candidates with the necessary skills and training, adding that this would allow them to achieve global recognition of accountancy qualifications.
He said: “The ICAN Tertiary Institution Mutual Cooperation Agreement (MCATI) visiting team at Caleb University conducted a comprehensive and rigorous review of the overall standard of the institution and learning of the accounting and finance department and was satisfied that the department had exceeded the minimum eligibility criteria set by the ICAN board and therefore recommended collaboration and signing of this company agreement mutual with Caleb University.
“The mutual society agreement requires undergraduate accounting students to study using the approved ICAN NUC integrated curriculum and those who graduate from Caleb University’s accounting department will be granted 11 subject exemptions, which represents the highest number of exemptions granted to any ICAN student compared to 7 subject exemptions granted to students whose university is subject to the normal ICAN accreditation regime.
“This represents complete exemptions from the basic level and competencies of the ICAN professional exam. For universities accredited by ICAN and not under the ICAN team arrangement, which means they have not integrated the program into the NUC program, when their students graduate they are exempt from the base and two subjects at the level of competences.
“When we started this deal from today, the students who are in 200L, from today when they graduate, they get base-wide exemptions and learning skills. That is, they have 4 additional exempt subjects, so these are 5 core subjects and 6 skill level, making 11 subjects in total. All they are supposed to pass is the final professional level of ICAN which is 5 subjects.
He urged students to be diligent and maximize the opportunities available to them, adding that many of their counterparts are ready for admission to higher education institutions but have not been privileged.
Meanwhile, Caleb University Vice Chancellor Prof Ayandiji Aina in his remarks expressed satisfaction with ICAN’s gesture, adding that the institution would fulfill its share of the terms of the agreement. According to him, the institution not only trains students in teaching but also in professional competence.