The Institute of Chartered Accountants of Nigeria has been appointed by the International Federation of Accountants (IFAC) to provide capacity building services to Professional Accountancy Organizations (PAOs) under a program funded by the UK Department of International Development (DFID).
Under this program, DFID will provide £4.935 million to IFAC over seven years to be used to strengthen PAOs in at least 10 DFID focal countries to enable them play a greater role in furthering economic development in their various countries.
Much of the work ICAN will do in this regard will be in countries where DFID is attempting to reduce extreme poverty.
ICAN would provide technical assistance, training and mentoring to professional accountancy bodies in several countries in Africa and beyond to enable them establish and run their own Professional Accountancy Institutes.
This new IFAC/DFID mandate is an addition to the institute’s current mentoring role in Cameroon where it is helping to train and provide technical assistance to the Cameroonian Institute. (Ordre National des Experts comptables du Cameroun-ONECCA)
ICAN is empowered to set standards of knowledge and skills to be attained by persons seeking to become members of the accountancy profession in Nigeria.
The Institute has more than 39,000 members and 120,000 students on its registers and conducts professional examinations twice in a year.
ICAN members hold sensitive positions in strategic management in different local and multinational firms, home and abroad and also serve the public sector in different capacities.
Its vision is to be a leading global professional body while its mission is to produce world-class Chartered Accountants, regulate and continuously enhance their ethical standards and technical competence in the public interest.
The Institute is engaged in broadening the frontiers of the profession in Africa by mentoring sister professional accountancy bodies for international recognition.