Home » ICAN Syllabus » The Skills level of the ICAN (Institute of Chartered Accountants of Nigeria) is the second level in the ICAN-ACA professional examination. The Skills level examinations are taken by individuals who aspire to become chartered accountants or professionals in the field of accounting and finance.
These exams are designed for students who have completed the foundational knowledge covered at the foundation level and are ready to delve deeper into public sector accounting and other specialized areas of accounting.
The chartered accountancy qualification – the ACA, of the Institute of Chartered Accountants of Nigeria (ICAN), with its integrated components, is one of the most advanced professional accountancy qualifications globally. The requirements for ICAN – ACA qualification are set out in this updated syllabus in the form of learning outcomes and competencies
Candidates with a BSc, M.Sc, and PhD in Accounting are exempted from the Skills level of the ICAN professional examination, while others having fewer qualifications might be exempted from one or more papers at this level. (Please see the academic and professional qualification exemption below).
The Skills level of accounting has 6 courses.
The Skills level builds on the foundation knowledge and takes students to a higher-level
knowledge, developing further, their skills and competencies. The emphasis is on application of
skills to business situations. There are six courses in this level including.
1. Financial Reporting
2. Audit, Assurance and Forensics
3. Financial Manaement
4. Taxation
5. Performance Management
6. Public Sector Accounting & Finance
Taxation is always expected to be an easy examination, but most often, aspiring Chartered Accountants and other non-accounting professionals panic during examinations. To ace this course, studying for it judiciously can only be achieved when it is done using the updated ICAN Taxation syllabus. The updated syllabus will take effect from November 2025. Notably, Taxation is one of the courses that remains unchanged in the updated syllabus.
This taxation course will equip you with an understanding of the principles of taxation, tax legislation, and the structure of the tax system in Nigeria. If you aspire to make an excellent mark in this examination, then you need to study this syllabus to know what you are expected to learn.
Professional Accountants need to understand taxation principles and laws to support compliance and effective professional advice. The emphasis here is on basic knowledge and application of tax legislation relating to individuals and corporate entities in simple situations. Candidates are expected to be able to explain the tax consequences of the activities of individuals and corporate entities.
On successful completion of this paper, candidates should be able to:
Explain the structure of the tax system including the roles, duties and powers of various organs of tax administration in Nigeria;
Explain the guiding principles of the revised national tax policy (NTP), 2017;
Identify and explain the five fundamental principles of ethics as specified by the
International Ethics Standards Board for Accountants (IESBA);
Understand applicable rates of transaction taxes, compute and know payment and returns timelines (including offences and penalties); and
Apply basic knowledge of tax legislation in computing income tax liabilities relating to individuals and corporate entities in simple situations.
In the dynamic world of accounting, studying Public Sector Accounting and Finance (PSAF) with the updated ICAN syllabus is a sure bet to broadening your expertise and acing the ICAN- ACA professional examinations.
This PSAF syllabus extensively covers topics on planning and budgeting, audit, public finance, and regulatory frameworks of Public Sector Accounting. These topics provide a deep understanding of the principles, concepts, and laws associated with Public Sector Accounting and Finance.
By studying the updated ICAN syllabus on Public Sector Accounting and Finance, you pave your way to success in the ICAN professional exams and establish yourself as an expert in Public Sector Accounting. The updated syllabus will take effect from November 2025. Public Sector Accounting and Finance is one of the courses that remains unchanged in the updated syllabus.
Aim
Candidates are expected to:
Understand the activities/services in the public sector environment, legislative and financial frameworks as well as the accounting practices required to ensure accountability in the sector;
Identify the nature of public sector organizations and their objectives, the role and significance of accounting standards, the structure of government and key aspects of legislation in public sector accounting; and
Understand the concept of public goods and how the government finances and optimally provides these goods.
Main competencies
On successful completion of this paper, candidates should be able to:
Understand the concepts and frameworks of public sector accounting;
Understand the roles, duties and powers of officers and various organs in the public sector;
Understand basic principles of public sector financial management.
To be successful in the ICAN Performance Management examination, you are expected to be capable of analysing financial and non-financial data and information to support
management decisions.
To achieve this, you need to be well-schooled on the application of strategic performance measurement techniques in evaluating and improving organisational performance and studying with the ICAN updated syllabus ensures that. The updated syllabus will take effect from November 2025. Performance Management is one of the courses that remains unchanged in the updated syllabus.
Studying with the ICAN syllabus gives you the most relevant knowledge and skills needed for excellent organisational management. With it, you are guaranteed of an excellent performance in the forthcoming ICAN-ACA professional examinations.
Aim
Performance management develops and deepens candidates’ capability to provide information and decision-support to management in operational and strategic contexts with a focus on linking costing, management accounting and quantitative methods to critical success factors and operational strategic objectives whether financial, operational or with a social purpose. Candidates are expected to be capable of analysing financial and non-financial data and information to support management decisions.
On successful completion of this paper, candidates should be able to:
Identify and apply appropriate budgeting techniques and standard costing to planning and control in business;
Select and apply performance measurement techniques;
Apply strategic performance measurement techniques in evaluating and improving organizational performance;
Discuss the accounting information requirements and the role of accountants in project management; and
Select and apply decision-making techniques to facilitate efficient and effective business decisions in the use of scarce resources.
This ICAN syllabus on Financial Reporting is fully stacked with every topic that helps you, the learner, understand the principles of accounting, international accounting standards, regulatory frameworks for accounting and reporting amongst other courses
If you’re preparing for the ICAN-ACA professional examinations, all you need to come out top is right here.
Studying this syllable will fully endow you with the necessary skills and expertise required for excellence in your forthcoming ICAN examinations. The updated syllabus will take effect from November 2025. Notably, Financial Reporting is one of the courses that remains unchanged in the updated syllabus.
Financial accounting from the Foundation level is taken up a notch to financial reporting in the context of more complex events and transactions with a greater emphasis on compliance with regulations including international accounting standards and generally accepted accounting principles. Candidates will be expected to demonstrate an understanding of and competence in financial statements preparation, analysis, interpretation and reporting.
On successful completion of this paper, candidates should be able to:
On successful completion of this paper, candidates are expected to be able to:
Explain the importance of regulatory frameworks for accounting and reporting;
Identify and state the circumstances in which private sector entities are required to
prepare and present statutory financial statements;
Identify and state the laws, regulations, accounting standards and other requirements that govern the preparation of financial statements by public and private sector entities;
Account for specific transactions in accordance with relevant international accounting standards;
Draft and present financial statements, or extract from them, of an entity and simple groups in accordance with its chosen policies and in accordance with International Financial Reporting Standards (IFRS) and local laws;
Assess the circumstances in which the use of IFRS may not be required for companies;
Analyse and interpret financial statements of entities and simple groups; and
Understand recent developments and ethical issues in the area of financial reporting.
As an aspiring chartered accountant preparing for the Audit, Assurance, and Forensics examination, studying with the ICAN syllabus not only brings you closer to passing the ICAN-ACA exams and advancing your career but also ensures you become a proficient auditor.
Audit, Assurance, and Forensics is a newly introduced Skills level course by the Institute of Chartered Accountants of Nigeria (ICAN), replacing the former Audit and Assurance course. This change will take effect from November 2025. Candidates who scored below 50% in Audit and Assurance are required to study and sit for the Audit, Assurance, and Forensics course instead.
The updated ICAN syllabus for Audit, Assurance, and Forensics is carefully designed to help accountants like you understand complex audit, assurance, and forensics principles and standards and understand their practical application in real-world scenarios requiring audit opinions.
Studying this syllabus guarantees success in your upcoming ICAN examinations and equips you to become an expert auditor from the outset.
The aim of this course is to provide candidates with the knowledge, skills, and competencies necessary to effectively plan audits, collect appropriate and sufficient evidence, analyse and evaluate that evidence, and ultimately form opinions and report on audited financial statements and assurance engagements. Additionally, the course will prepare them to conduct forensic engagements and serve as expert witnesses in court.
Upon successful completion of this course, candidates will be able to:
Understand the objectives, processes, and importance of external audit and assurance;
Identify and explain ethical and legal issues related to audit and assurance engagements;
Apply fundamental audit and assurance principles and provide guidance on relevant laws and regulations when auditing companies;
Describe how an auditor gains an understanding of an entity and its operating environment;
Evaluate the risk of material misstatements, including those due to fraud or irregularities, and plan an effective audit of financial statements;
Explain the methods auditors use to collect relevant and sufficient evidence during an audit;
Outline the different types of forensic audit services and their procedures;
Demonstrate how technology is integrated into the audit and assurance process;
Describe and assess internal control systems;
Discuss audit evidence and evaluate its sufficiency and appropriateness as a basis for forming an audit opinion; and
Prepare audit reports and present them to those charged with governance, in accordance with applicable regulations and standards.
This ICAN syllabus on Financial Reporting is fully stacked with every topic that helps you, the learner, understand the principles of accounting, international accounting standards, regulatory frameworks for accounting and reporting amongst other courses
If you’re preparing for the ICAN-ACA professional examinations, all you need to come out top is right here.
Studying this syllable will fully endow you with the necessary skills and expertise required for excellence in your forthcoming ICAN examinations. The updated syllabus will take effect from November 2025. Notably, Financial Reporting is one of the courses that remains unchanged in the updated syllabus.
Financial accounting from the Foundation level is taken up a notch to financial reporting in the context of more complex events and transactions with a greater emphasis on compliance with regulations including international accounting standards and generally accepted accounting principles. Candidates will be expected to demonstrate an understanding of and competence in financial statements preparation, analysis, interpretation and reporting.
On successful completion of this paper, candidates should be able to:
On successful completion of this paper, candidates are expected to be able to:
Explain the importance of regulatory frameworks for accounting and reporting;
Identify and state the circumstances in which private sector entities are required to
prepare and present statutory financial statements;
Identify and state the laws, regulations, accounting standards and other requirements that govern the preparation of financial statements by public and private sector entities;
Account for specific transactions in accordance with relevant international accounting standards;
Draft and present financial statements, or extract from them, of an entity and simple groups in accordance with its chosen policies and in accordance with International Financial Reporting Standards (IFRS) and local laws;
Assess the circumstances in which the use of IFRS may not be required for companies;
Analyse and interpret financial statements of entities and simple groups; and
Understand recent developments and ethical issues in the area of financial reporting.
