World Bank initiative to facilitate ICAN’s global membership

The Financial deal entered into by World Bank and the Institute of Chartered Accountants in England and Wales, mother body of Institute of Chartered Accountants of Nigeria (ICAN) will fast track its global member status.



In his speech during his investiture as the 49th ICAN President,  in Lagos, Alhaji Kabir Mohammed, who disclosed this said “One critical issue that has continued to confront young members of the Institute is the prospect of labour mobility.
Indeed, failure of past effort, at signing reciprocal relationship with some International Federation of Accountants member-bodies has been the subject of serious engagements between the Institute and the World Bank. Through a World Bank-financed twinning arrangement with the Institute of Chartered Accountants in England and Wales, the very Institute that gave birth to ICAN, this huddle will soon be surmounted.
“To achieve this, the Institute’s syllabus, training manuals and certification processes, are being comprehensively reviewed and examinations under the new syllabus are due to start with the November 2014 diet. Products of the new syllabus will write only the tax and law papers of the Institute of Chartered Accountants in England and Wales examinations and become members of that revered global body.
“In anticipation of this, the Chartered Institute of Management Accountants, UK, has offered to grant direct admission to ICAN members, subject to their writing one paper in its final qualifying examinations. In view of the expected benefits, the Council under my leadership will ensure scrupulous implementation, of the various components of the World Bank initiative. We will build technical capacity within the Secretariat to sustain the gains of the above initiative.”
Also, he added that members who qualify through the ATS platform are discriminated against in the market place, in spite of their acknowledged expertise, and proven skills as middle level manpower.
To this end, he said, “The Council under my leadership will address and permanently resolve this issue. Following the discussions and effective contacts made early in the year with University Utara, Malaysia, one of the top eight universities out of 50 in that country,  very soon, an MoU will be signed by ICAN with the leadership of the University Utara, in order to give effect to the arrangement.

As envisaged, holders of only ACA who desire to pursue academic master degree by course work, or research, can also do so directly, with their qualifications at the university, some members of the institute are already enjoying this concession.” Meanwhile, he expressed disappointment over members’ unwillingness to pay their subscriptions, saying that some blame it on the current economic challenges facing everybody.