ICAN MOU with Foreign PAOs to Benefit Candidates and Chartered Accountants. A Memorandum of Understanding (MoU) was signed between the Institute of Chartered Accountants of Nigeria (ICAN) and several foreign Professional Accountancy Organizations (PAOs) on September 8, 2023. The MoU was signed in Lagos, Nigeria, by the President of ICAN, Dr. Innocent Iweka Okwuosa, and the representatives of the PAOs.
The purpose of the MoU is to promote cooperation and collaboration between ICAN and the PAOs in areas such as:
- Professional education and training
- Research and development
- Standard setting
- Quality assurance
- International mobility of accountants
- Public interest oversight
The MoU is a significant step in ICAN’s efforts to strengthen its international standing and to promote the highest standards of professional accounting in Nigeria. It is also a testament to the growing reputation of ICAN as a leading professional accountancy organization in Africa.
The PAOs that signed the MoU with ICAN are:
- The Association of Chartered Certified Accountants (ACCA), United Kingdom
- The Chartered Institute of Management Accountants (CIMA), United Kingdom
- The Institute of Chartered Accountants in England and Wales (ICAEW), United Kingdom
- The Institute of Chartered Accountants of Scotland (ICAS), United Kingdom
- The South African Institute of Chartered Accountants (SAICA)
- The Institute of Chartered Accountants of India (ICAI)
- The Institute of Chartered Accountants of Australia (ICAA)
- The Chartered Institute of Public Finance and Accountancy (CIPFA)
The MoU is for a period of three years, and it is renewable. ICAN is confident that the MoU will be beneficial to all parties involved and will help to raise the standards of professional accounting in Nigeria and around the world.
ICAN MoU with Foreign PAOs to Benefit Candidates and Chartered Accountants
Here are some of the specific benefits of the MoU for ICAN candidates and chartered accountants:
- Increased access to resources and expertise from the PAOs: The PAOs have a wealth of resources and expertise that can be shared with ICAN candidates and chartered accountants. This includes access to training courses, research materials, and professional networks.
- Enhanced opportunities for professional development: The MoU will create new opportunities for ICAN candidates and chartered accountants to develop their professional skills and knowledge. This includes opportunities to participate in joint training programs, workshops, and conferences.
- Improved international recognition of ICAN qualifications: The MoU will help to improve the international recognition of ICAN qualifications. This will make it easier for ICAN candidates and chartered accountants to work in other countries.
- Increased opportunities for collaboration on research and projects: The MoU will create new opportunities for ICAN candidates and chartered accountants to collaborate on research projects and other initiatives. This will help to advance the knowledge and practice of accounting.
- Strengthened oversight of the accounting profession in Nigeria: The MoU will help to strengthen the oversight of the accounting profession in Nigeria. This will help to ensure that the profession meets the highest standards of ethics and competence.
Overall, the MoU between ICAN and the PAOs is a significant development that will benefit ICAN candidates and chartered accountants in many ways. It is a sign of the growing international reputation of ICAN and its commitment to promoting the highest standards of professional accounting.
Read: ICAN Professional Examination Registration for November Diet 2023
