IRBA/IAESB Accountancy Education Forum

Transcription

1 IRBA/IAESB Accountancy Education Forum Rotimi A. Omotoso MBA, CPA, FCA Registrar/Chief Executive The Institute of Chartered Accountants of Nigeria (ICAN)

2 OUTLINE Introduction The 3 Pillars Pre Qualification Students Programs Members programmes The ICAN Libraries The ICAN Faculties Development Development Accountants Conference Federal Budget Symposium Academic Conference Entrepreneurship programme ICAN Publications ICAN PhD Research grants District Societies and Chapters ICAN Research Commissioned Staff Capacity Building Sample Cases of Success Story Conclusion

3 INTRODUCTION Human Capacity Building The preparation of an individual for the responsibilities of his/her profession. Human Capacity Building efforts include: Education, Training, Professional Development and Public Awareness. Academic or non-academic, formal or informal. ICAN focuses on 3 pillars Education, Examination and Experience before certification, and Members Continuous Professional Development thereafter In the next few slides, we will review some specific Members Human Capacity Building programmes carried out by ICAN.

4 STUDENTS The 3 Pillars Pre Qualification EDUCATION In order to register as a student with the Institute and write ICAN examinations, an applicant must hold an acceptable qualification, namely a recognized degree or Higher National Diploma or a foreign professional accountancy qualification approved by the ICAN Council. EXAMINATIONS With effect from November 2014, the qualifying professional examination of the Institute consists of 16 papers including a case study spread over three levels: Foundation, Skills and Professional. EXPERIENCE Students are required to acquire their practical experience in a Recognized Training Center (RTC) for a period of months before they are inducted into membership. Articleship for a minimum period of 36 months in a professional practice is required before a Practice License is granted.

5 STUDENTS Definition of Training Training for the purpose of the Institute s membership means full time assignments on a work of an approved accounting nature either in a professional office, commerce, industry, government or a full time/part time study in a recognized institution. Approved Work of Accounting Nature An accounting duty is deemed to be approved when such a duty is being supervised by a member of the Institute or being subjected to regular audit by a member firm of Chartered Accountants. Recognized Training Centers The Institute attaches considerable importance to practical training and students are required to acquire their practical experience in Recognized Training Centers(RTC).

6 STUDENTS ICAN PROFESSIONAL EXAMINATIONS This holds bi-annually in May and November; More than 100,000 Professional students on our register; 39,664 CAs produced to date.

7 STUDENTS ACCOUNTING TECHNICIANS SCHEME FOR WEST AFRICA (ATSWA) Examination is organized twice a year in March and September 108,983 ATS students on our register; 20,082 AATWA members produced to date

8 STUDENTS Accreditation of Tuition Providers Quality assurance of accountancy programs of tertiary institutions and performance standards of tuition centers. Accredited Tertiary Institutions: 73 universities and 46 polytechnics are currently accredited. Mutual Cooperation Agreement with Tertiary Institutions (MCATI): 4 agreements signed to date. Recognised Tuition Centres: 53 Recognised Tuition Centres across Nigeria.

9 STUDENTS ICAN STUDENTS LEARNING MATERIALS The Institute in conjunction with Emile Woolf International, produced the study materials in all sixteen (16) subjects of the Institute s Professional Examinations. The learning materials were developed under a World Bank sponsored twinning arrangement between ICAN and The Institute of Chartered Accountants England and Wales (ICAEW).

10 STUDENTS DONATION OF LECTURE THEATRES The Institute identified that lack of conducive space inhibited the number of students admitted to study accountancy in some tertiary institutions. In order to alleviate this problem, ICAN commenced the building of lecture theatres in tertiary institutions in To date, seven (7) lecture theaters have been completed. Each accommodates over 350 students.

11 STUDENTS Tuition Houses Support Fund In its strategic efforts to improve the quality of accounting education in the country, the Institute in 2015, launched the Tuition Houses Support Fund with the sum of fifty million Naira. The Tuition Houses Support Fund is to assist accredited/recognized Tuition Houses in areas of infrastructural development and upgrade, provision of Library facilities etc to attract more students and improve learning environment.

12 STUDENTS CATCH THEM YOUNG PROGRAMME This is an enlightenment program aimed at introducing professional accountancy to secondary school students prior to admission to tertiary institutions. STUDENTS RESIDENCY PROGRAM This is a fully residential workshop organized periodically over a full weekend for undergraduate students across the country.

13 STUDENTS ICAN STUDENTS SPECIAL PROJECT (ISSP) Aimed at improving the performance of students from educationally disadvantaged parts of country. By bringing quality professional accountancy tuition houses to their doorsteps, ISSP has helped to increase the number and quality of Chartered Accountants produced from educationally disadvantaged parts of Nigeria. The Institute partners with State Governments and New Nigeria Development Company Limited (NNDC) for its implementation.

14 STUDENTS ICAN SCHOLARSHIP SCHEME FOR STUDENTS The Institute has in place funded scholarship schemes for students graduating from tertiary institutions in Nigeria. Designed to encourage best graduating students from ICAN- Accredited Accountancy program pursue a professional career in Accountancy. The scholarship schemes are in three categories: Diamond for 1 st class/distinction graduates from any discipline Gold for best graduating student in Accountancy Silver for best graduating student in final level of ICAN ATSWA examinations.

15 STUDENTS ICAN NATIONAL ESSAY COMPETITION In commemoration of its 50 th Anniversary, the Institute launched an annual National Essay Competition for students in different fields of study. The purpose of the competition is two-fold: 1. Continued development of professional accounting education in Nigeria, and 2. Continued development of intellectual capacity of Nigerian students.

16 STUDENTS ICAN NATIONAL ESSAY COMPETITION These were The top 10 winners of the 2015 inaugural ICAN National Essay Competition. They were undergraduates from different tertiary institutions and disciplines.

17 MEMBERS CONTINUING PROFESSIONAL DEVELOPMENT Every member of the Institute is required to obtain a minimum of thirty (30) CPE credit hours in a year. Of these, fifteen (15) must be from structured programs. CPE programs are organized through: Mandatory Continuing Professional Education (MCPE) Continuing Professional Education (CPE) Executive Mandatory Continuing Professional Education (EMCPE)

18 MEMBERS THE ICAN LIBRARIES ICAN has three well equipped libraries in different parts of the Country: The library at the Main Secretariat at Victoria Island, Lagos caters for the needs of members. Students library is located at the Institute s Secretariat Annex Mainland Lagos. A new state of the art library is nearing completion at the ICAN Secretariat Complex located at the Federal Capital Territory, Abuja. These libraries are equipped to provide reference services; reprographic services; readers services; systematic dissemination of information (SDI) services in addition to E- Library services.

19 MEMBER SPECIALISATION THE ICAN FACULTIES There are seven faculties created as centers of excellence to encourage specialisation among members. Members are expected to belong to at least one (1) and at most three(3) of these faculties: i. Audit, Investigation and Forensic Accounting Faculty ii. -The faculty has trained 401 Certified Forensic Accountants to date Corporate Finance Management Faculty Certificates of Proficiency in IFRS initially produced under this faculty were absorbed by Financial Reporting Faculty.

20 MEMBER SPECIALISATION iii. Financial Reporting Faculty - 12 IFRS certificates issued to date. iv. Insolvency and Corporate Re-Engineering Faculty - 15 Insolvency Practitioners produced to date. Recently the faculty organized an International Conference on Insolvency and Financial Engineering with over 150 participants in attendance and facilitators drawn from USA, India and Nigeria.

21 MEMBER SPECIALISATION v. Consultancy and Information Technology vi. Public Finance Management vii. Taxation and Fiscal Policy Management Each of these Faculties organizes periodic Seminars and Workshops tailored to their members interests and needs.

22 ACCOUNTANTS CONFERENCE Every year 3,500 to 4,000 members attend our Annual Accountants Conference. Every 4 years, an average of 1,000 of our members attend the World Congress. The objective is to bring members together as a result of geographical diversity of the membership.

23 ANNUAL FEDERAL BUDGET SYMPOSIUM The symposium reviews and discusses the Federal Budget with a view to appraising its implementation and recommend strategies for subsequent budgets. The event provides a forum for the public to analysis the Government budgets and proffers solutions. Over 900 members attend annually. A communiqué is issued and shared with the Federal Government.

24 ANNUAL ACADEMIC CONFERENCE This is an annual event where members in academia and corporate world come together to: Exchange ideas; Discuss new trends in the profession and related fields; Bridge knowledge gap and; Provide publication outlet for well researched papers.

25 ENTREPRENEURSHIP PROGRAMME This initiative is aimed at encouraging members to embrace alternatives to paid employment with a view to achieving selfactualization.

26 ICAN PUBLICATIONS Membership Year Book, containing lists of members and other general information about the Institute. The Nigerian Accountant, the official journal of the Institute, containing authoritative articles on accountancy and related fields published quarterly. ICAN News, the official journal for students of the Institute. Pathfinder, published after each examination contains the suggested solutions to examination questions. Regulations and ICAN Examinations Syllabus Members Handbook, which is a compendium of the Institute s constitutional, ethical and legal provisions as well as accounting, auditing and reporting standards. ICAN Students Learning materials in hard and soft copies. ICAN Journal of Accounting and Finance (IJAF). Research journal covering accounting and finance related issues. ICAN Annual Diary ICAN Weekly E-Newsletters

27 ICAN PhD RESEARCH GRANTS To proactively build top notch accounting educators for the next generation. ICAN PhD Research Grants provide N500,000 or foreign currency equivalent to assist each member undertaking approved doctoral program in a recognized institution in other to prepare them for a career in academia.

28 ICAN DISTRICT SOCIETY ICAN has over 52 District Societies, including those in Cameroon, United Kingdom, United States and Canada. Each of these districts organizes Seminars/Workshops and zonal Conferences as approved by ICAN Council to meet peculiar local needs of members. The District Societies also assist students of the Institute to prepare and succeed in the examinations as well as mentoring of new members.

29 ICAN COMMISSIONED RESEARCH GRANT In order to encourage research activities which feed into the training and education of accountants, ICAN provides a research grant of up to N1,000,000 or foreign currency equivalent per research on approved topics.

30 STAFF AND CAPACITY BUILDING Sixteen (16) fully-qualified ICAN members work in various capacities within the Institute. Form themselves into in-house Standards Review Teams aimed to provide implementation support for various Pronouncements of IFAC and other regulatory bodies. Have built competence in the review of technical publications in spite of their day-to-day assignments. ICAN staffs also serve as secretaries to standing committees of ICAN council.

31 SUCCESS STORY SAMPLE CASES ICAN CURRENTLY PROVIDES CAPACITY BUILDING SUPPORT UNDER A 2014 MoU WITH ONECCA CAMEROON. ICAN HAS PROVIDED CAPACITY BUILDING SUPPORT (Jointly with CIPFA) TO THE FEDERAL TREASURY ACADEMY SINCE IN 2015 ICAN WAS INCLUDED IN THE MAIDEN LIST OF POTENTIAL IFAC PAO CAPACITY BUILDING PARTNER ORGANISATIONS. ICAN MEMBER FIRMS PROVIDE FS AUDIT TO ALMOST 100% OF COMPANIES LISTED ON THE NIGERIAN STOCK EXCHANGE. FIFTY YEARS OF PUBLIC SERVICE FROM 250 MEMBERS IN 1965 TO ALMOST 40,000 BY CLOSE OF MEMBERS IN PUBLIC ACCOUNTING, BUSINESS, INDUSTRY & GOVERNMENT INCLUDING CURRENT MINISTER OF FINANCE, HEAD OF THE SERVICE OF THE FEDERATION, AUDITOR GENERAL OF THE FEDERATION, 5 OF THE 36 STATE GOVERNORS, FEDERAL LEGISLATORS, CEOs, CFOs AMONG OTHER INDUSTRY LEADERS.

32 CONCLUSION Key Success Areas Legal & Market Recognition Strong Governance Sustainable Funding & Business Model Adequate Infrastructure & Management Structure Relevance and Sustained Public Trust Increasing Member Value, Advocacy and Influence Professionalism Quality assurance, Established Investigation & Disciplinary Process

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