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… new syllabus to take effect from November 2025 diet
The Institute of Chartered Accountants of Nigeria (ICAN) has announced the revision of its professional examination syllabus, and the new syllabus takes effect from the November 2025 diet.
Davidson Alaribe, the 60th president of ICAN, disclosed this during the syllabus launch held recently when he said, “The world we live in today is one of rapid change and complexity, driven by technological advancements, globalisation, and evolving regulatory landscapes.
“This necessitates the continuous need for us as a professional body to adjust our syllabus in tandem with evolving global practices to ensure that we remain relentless in our resolve to molding finest minds in the accounting profession, ensuring they are equipped with the knowledge and ethical grounding required to excel in today’s dynamic and challenging environment.”
Alaribe emphasised that in fulfilment of ICAN’s mandate, they have consistently upheld the highest standards of competence and integrity, shaping generations of financial leaders who have contributed significantly to the growth and stability of our nation’s economy.
Read also: ICAN to commence Aviation Chapter to strengthen financial governance in the industry
However, he noted that considering the volatility of the environment in which the institute operates, standing still is akin to retrogression.
“Some time ago, we resolved to update the syllabus triennially instead of the five-yearly review. We, therefore, garnered an array of subject matter experts who are relevant across the globe to constitute the syllabus review committee and embark on a comprehensive and rigorous review of our professional examination syllabus.
Chibuzor Anyanechi, chairman of the syllabus review committee, speaking at the unveiling of the new syllabus, stressed that ICAN traditionally has undertaken a comprehensive review of its syllabus every five years.
However, he explained that recent years have seen a necessary shift from that timeline.
“We live in an era marked by rapid and profound transformation, where knowledge acquisition is no longer incremental but meteoric, and skills acquired today may be obsolete tomorrow.
“The disruptions brought about by emerging technologies, new accounting standards, and evolving government policies underscore the need for more frequent and agile syllabus revisions,” he said.
“As part of our global outlook, ICAN remains professionally obligated to equip its students with competencies that allow them to compete effectively with chartered accountants worldwide.
“With the rise of globalisation, the Internet of Things (IoT), and frontier technologies, geographic boundaries have become increasingly irrelevant,” he added.
He commended the foresight of the ICAN’s governing council and the hard work of the syllabus review committees, whose expertise and dedication have yielded a syllabus designed to produce future-ready and globally competitive chartered accountants.
“The emergence of sustainability and artificial intelligence as global imperatives necessitated a thorough review of the existing syllabus,” he noted.
Seyi Olarewaju, who gave a detailed overview of the new syllabus, highlighted some of the notable enhancements, such as digital and technology-related skill sets have been introduced to equip chartered accountants for the demands of a digital economy.
Besides, he noted that modules on sustainability reporting, sustainable and responsible finance have been incorporated, as well as legislative updates from the Finance Acts of 2020, 2021, 2022, and 2023.ted;
Read also: ICAN members can now obtain CPA, Canada designation
“The syllabus now also aligns more closely with the expectations of the ICAN Accountability Index, promoting transparency and efficient public financial management.
“Over the years, ICAN has earned a reputation as a forward-thinking institution, consistently providing a platform for its members and students to harness emerging opportunities and maintain a competitive edge in the marketplace,” he said.
The revised syllabus retains the existing 15-subject structure, though some subjects have been renamed and enriched with new content. These updates are intended to deepen the technical knowledge and practical insight of aspiring chartered accountants.
Olarewaju further emphasised that to support a seamless transition, ICAN have provided comprehensive guidelines in the publication titled Professional Examinations Syllabus and regulations for the training of chartered accountants in Nigeria.
“A particularly progressive feature of the revised syllabus is the newly approved waiver policy concerning subject exemptions. Traditionally, no candidate who had failed any subject in the foundation, skills, or professional levels of our examinations was eligible for exemption from that subject,” he noted.
However, he said the council has approved an exception clause: candidates who subsequently acquire additional qualifications or certifications that clearly demonstrate mastery of the failed subject may now apply for exemption.
“Each case will be considered for its individual merits, and only where the new qualification sufficiently covers the competencies required. This innovative step reflects our commitment to a more holistic, skill-based approach to professional development, recognising that learning is not always linear, and that competence can be gained through diverse, credible pathways,” he said.
Charles Ogwo
Charles Ogwo, Head, Education Desk at BusinessDay Media is a seasoned proactive journalist with over a decade of reportage experience.
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