January 26, 2022


Accounting + Finance Blog

Accounting Professional bodies to boost your accounting career in Nigeria


As a graduate of accounting or a proposed accountant, it is necessary to decide which area of accounting to be a specialist. Also, as explained in the previous article, accounting is a broad course, therefore it is paramount that as an accountant you concentrate on a distinct field. In this lesson, we will discuss some of the professional bodies in accounting you can key into.

Key Professional Organization to grow your accounting career


Below is some professional certification program:

National Professional Certification in Accounting

Institute of Chartered Accountant of Nigeria (ICAN): This is a well known professional program. You can earn the certificate for at least a year if you have a bachelor of science degree in Accounting. However, in any other course of study, you earn it in at least a year and a half.

Accounting Technician Scheme West Africa (ATSWA): This program is a subset of ICAN. Students with O’level certificate and wish to grow a career in accountancy can begin with this certificate program. Also, a person without a primary school certificate or without any certificate can also write the exams for ATSWA, if and only if he or she has worked in an accounting firm for a minimum of 7 years.

On completion of the program, the student can take the career to another level by pursuing a certificate in the Institute of Chartered Accountant of Nigeria.

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Chartered Institute of Taxation of Nigeria (CITN): This is another powerful certification. This is so because, recently, the Nigerian government is taking tax payment as a serious matter. In the coming years, every business and individuals who are not paying tax will be identified and forced to pay their taxes.

You can earn a certificate in this program in two years. However, if you have a degree in accounting, then, in a year and a half you may earn a certificate and thereby pursue your career in taxation.

Association of National Accountant of Nigeria (ANAN): Another way to be a professional accountant is by becoming a certified national accountant (CNA). However, you can’t earn this certificate without passing through the four walls of the Nigerian Universities and Polytechnics. Also, upon graduation from the University will spend three years in the Nigerian College of Accountancy (NCA) in Jos. The completion of all examination will earn you the certificate. Although CNA is based on Nigerian law, many accountants prefer its substitute. That is, ICAN. Note that is from a law enacted in Nigeria.

Chartered Institute of Bankers of Nigeria (CIBN): Although, this is not a direct career in Accounting. However, it may be important for individuals working in a bank. The certificate can be attained between a year if the student has a minimum of a higher diploma certificate.

International Professional Certification in Accounting

Association of Chartered and Certified Accountant (ACCA): If your intention is to push your career in accounting without any limit, then, ACCA, the examination is for you. In a year, you can earn a certificate in this institution. Many persons who had ICAN, also expand their careers by obtaining this certificate.

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Association of Certified Fraud Examiners (ACFE): If your intention is to become a forensic expert, then, Certified Fraud Examiner (CFE) certification is what you should consider. You can earn this certificate within 6 months to one year. A Bachelor of Science degree in accounting, sociology, or criminology is necessary to earn this certificate.

Certified Information System Auditor (CISA): This certification is for individuals pursuing a career as a system auditor. A system auditor is an auditor who examines compliance issues regarding the information system used by an organization. This certificate is a hot cake. And you can earn it within six to one year or more depending on how intelligent and diligent you are in auditing and IT field of study.

Chartered Institute of Management Accountant (CIMA): If you intend to grow a career in management accounting, then push to earn a certificate on CIMA. This certificate can be earned in a minimum of one year if you have a B.Sc certificate in accounting and business-related courses. It can also be attained without any prior certification.

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Chartered Financial Analyst (CFA): This is the highest professional certification you can ever attain in the field of accounting. A few Nigerians who knows his starts with ICAN, earn ACCA certificate them move forward to earn the glorified CFA certificate. The certificate can be earned in three years or more. If you are particularly interested in investment, then, CFA is the best path to follow. However, the exam is not an easy one and you will spend a lot of money in dollar term to earn this certificate.

Next, the history of accounting will be elaborated.