ICAN Students Regulations and Examination Syllabus 2025 (A Comprehensive Guide)

By genior 06/05/2025 ICAN 1 Comment

The Institute of Chartered Accountants of Nigeria (ICAN) has introduced a revised syllabus and updated regulations for its professional and ATSWA examinations, effective November 2025. This guide provides an in-depth overview of these changes, ensuring that students are well-prepared for the upcoming examinations.

Overview of the 2025 Professional Examination Syllabus

The 2025 syllabus maintains the 15-subject structure across three levels: Foundation, Skills, and Professional. Each subject integrates ethics and professional skepticism, aligning with international standards and addressing contemporary developments in the accounting profession.

Foundation Level

Subjects:
- Business Environment
- Financial Accounting
- Management Accounting
- Corporate and Business Law
Key Updates:
- Management Information has been replaced with Management Accounting.
- Business, Management, and Finance is now Business Environment, reflecting expanded content.
- Business Law has been updated to Corporate and Business Law.

Skills Level

Subjects:
- Financial Reporting
- Audit, Assurance, and Forensics
- Taxation
- Financial Management
- Performance Management
- Public Sector Accounting & Finance
Key Updates:
- Introduction of Financial Management as a new subject.
- Audit and Assurance expanded to include Forensics.
- Financial Reporting now incorporates sustainability reporting standards (IFRS S1).

Professional Level

Subjects:
- Strategic Business Reporting
- Advanced Audit, Assurance, and Forensics
- Strategic Financial Management
- Advanced Taxation
- Case Study
Key Updates:
- Corporate Reporting has been updated to Strategic Business Reporting.
- Corporate Strategic Management and Ethics has been removed, with relevant content integrated into other subjects.

The revised syllabus also encompasses:

International Sustainability Standards Board’s (ISSB) new standards.
Sustainable and responsible finance.
Provisions of the Petroleum Industry Act (PIA), 2021.
Updates from the Finance Acts of 2020 to 2023.
Skills required to navigate technological disruptions in the digital age.

Examination Regulations and Guidelines

Eligibility and Registration

Professional Examinations:
- Open to registered financial students.
- May 2025 diet scheduled from Tuesday, May 20 to Thursday, May 22, 2025.
- Registration portal opens on Tuesday, January 28, 2025, and closes on Friday, May 16, 2025.
- Payment period: January 28 to May 9, 2025.
- Examination centers available across Nigeria, as well as in Buea, Cameroon, and London, UK.

ATSWA Examinations:
- Registration for the March 2025 diet opens on Thursday, December 5, 2024, and closes on Thursday, March 20, 2025.
- Candidates must register online and adhere to specified guidelines.

Examination Conduct

Candidates are prohibited from bringing mobile phones, electronic gadgets, programmable devices, or wristwatches into the examination hall.
Violations may result in cancellation of the examination paper and other disciplinary actions.

Exemption Policies

Candidates may apply for exemptions based on prior qualifications.
Applications for exemption and examination cannot be made simultaneously.
No refunds are provided once examination fees are paid.

Access to Study Materials

ICAN provides free access to study texts and Pathfinders for both professional and ATSWA students.
Materials are available for download on the ICAN website using student login credentials.

Key Takeaways for Students

Stay Informed: Regularly check the ICAN website for updates on examination schedules, syllabus changes, and regulations.
Adhere to Guidelines: Ensure compliance with all examination regulations to avoid penalties.
Utilize Resources: Take advantage of the free study materials provided by ICAN to aid in preparation.
Plan Ahead: Be mindful of registration and payment deadlines to ensure eligibility for examinations.

Parts of the Syllabus

PART ONE

STUDENTS’ REGULATIONS AND EXAMINATION SYLLABUS

Introduction
Objects and Duties
Membership
Chartered Accountants
Designatory Letters
The Practice of Accountancy in Nigeria
The Library
District Societies
Publications
Training Schemes

i. Definition of Training

ii. Approved Work of Accounting Nature

iii. Recognised Training Centres

Practising Licence
Secretariat

PART TWO

STUDENTSHIP REGISTRATION AND TRAINING
Approved Qualifications for Registration
Application for Registration
Conditions to be satisfied

PART THREE

PROFESSIONAL EXAMINATIONS

Structure of the Syllabus
Educational Recognition
Dates and Centres of Examinations
Closing Dates of Entries

REGULATIONS AND EXAMINATIONS SYLLABUS FOR ICAN

Examination Entry
Examination Results
Credit System
Pass Mark
Conversion Arrangements
Examination Time Table
Examination Question Format
Absence from an Examination
Misconduct in an Examination
Exemption Guidelines
Academic Qualifications
Subject by Subject Exemption
Professional Qualifications
Lecturers in Higher Institutions
Explanatory Notes on Exemptions

PART FOUR

EXAMINATIONS SYLLABUS

FOUNDATION LEVEL
A1. Quantitative Techniques in Business (QTB)
A2. Business and Finance (BF)
A3. Financial Accounting (FA)
A4. Management Information (MI)
A5. Business Law (BL)

SKILLS LEVEL
B1. Financial Reporting (FR)
B2. Audit and Assurance (AAS)
B3. Taxation (TAX)
B4. Performance Management (PM)
B5. Public Sector Accounting and Finance
B6. Management, Governance and Ethics (MGE)

PROFESSIONAL LEVEL
C1. Corporate Reporting (CR)
C2. Advanced Audit and Assurance (AAA)
C3. Strategic Financial Management (SFM)
C4. Advanced Taxation (ATAX)
C5. Case Study (CS)

Download the detailed Examination Syllabus PDF ican-professional-exam-syllabus.

For more detailed information, students are encouraged to visit the ICAN Students’ Portal and consult the official syllabus documents.

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