4 Myths About ICAN

Coming from a family of chartered accountants , I think I heard about the examinations of the Institute of Chartered Accountants of Nigeria (ICAN) at a quite early age, probably from primary school. I heard all such tales about ICAN exams. I used to see ICAN exams as one monster.

To compound my fears, when I crossed from being a science student to a commercial one in second term SSS 1 in 1998, apart from mathematics, accounting was the subject I dreaded most. Thankfully, accounting, unlike math, has some theoretical parts (all those ‘name 5 types of account’, ‘what is a subsidiary book?’, etc questions), so I still managed to pass, banking on those ‘story’ aspects.

In the university, studying economics, I had option to take elective courses in departments such as Management and Accounting, Sociology, Geography, Demography and Social Statistics, and psychology.

To add insult to injury, my school’s management and accounting department was not the most organized of departments as my friends in the department used to complain about cases of loss of scripts due to the high volume of students. So I found in Sociology and Psychology departments elective allies, and the Alphas were almost always guaranteed, never mind the headache those abstract Sigmund Freud theories in Psychology 204 gave me.

I was still able to avoid accounting in the university. Of course, my co-economics studying but ICAN-writing friends, Muyiwa Adeniji and Niyi Ogunbayo [both now members of Jarushub’s Advisory Council (JAC) ], that opted for accounting electives most times did not come back with the most pleasant of experiences. At least, I remember Muyiwa’s accounting exams script missing in our 200 level. That was definitely not an experience I would like to have, further fuelling my hatred for accounting.

Fast-forward to my service year, and out of boredom in the caliphate state of Sokoto, I decided to play with ICAN to keep myself busy. I faced my fears, but this time around, spurred by the belief that if my friends could do it, why can’t I (the same theory that helped me in my math turn-around). I registered for and started ICAN. With all the time in this world available for me to study by myself during the service year, I came out tops in Nigeria at my first attempt in the exams, claiming three of the four prizes available for foundation stage. I later qualified 3 years later, and today, I earn my living, not from the economics I studied for 4 years in the university and liked right from secondary school, but from an accounting job. I find myself an accountant today and I have had all my five years working experience in accounting role. Well, that’s what ICAN can do.

From my interactions with folks, especially the less informed ones, I have come to observe the reason why people dread ICAN and their exams. The following are the 4 major myths about ICAN:

1, ICAN DELIBERATELY FAILS STUDENTS: Giving the failure rate recorded in ICAN exams, I can pardon people for believing this. But this is actually a lie. I personally hold that no examination body will deliberately fail you if you pass, not least ICAN. I have heard all sort of tales like ICAN fail people so as to make money from exam fees. This is a big fat lie. As far as I know – and I think I know farthest – if you score 50% in any ICAN exams, you will never fail that paper. Of course, there was a time when if you failed woefully in one subject, you will be required to rewrite other papers you passed in same diet, but this was not a secret as the system was made known in their students guideline. This system has since been jettisoned, except at the final stage when you are required to pass a number of subjects for you not to rewrite others you passed. So students should purge their mind of this erroneous belief. I never believed it anyway, and anytime I get to advise ICAN candidates, including in my first class in the ICAN center I was lecturing a while back, the first thing I do is cleanse their mind of this pessimistic mindset. How can you go to a war with a mindset that your efforts will not count? ICAN will not fail you if you pass, and there is no way you can score 50% in a subject and marked failed.

2, ICAN IS A YORUBA AFFAIR: I was having an introductory class with some ICAN students last year. They were preparing for Foundation examinations and that was their first attempt. In the process of ‘sermonizing’ on how students bandy unfounded myths around, trying to demystify their self-inflicted fears, one student from the eastern part of Nigeria asked me, ‘Oga, but I heard ICAN is a Yoruba body. Only Yoruba people do and pass it’. I laughed. I knew Nigerians are incurable ethnic wolf-criers, but I never knew it had reached that extent. I am aware Nigerians like to raise ethnic false alarm and cry tribal victimization when something doesn’t go in their favour, but I never knew such thoughts could be nursed of a professional body like ICAN. Well, I told her it’s a big fat lie. ICAN is not and can never be a Yoruba affair. Irrespective of where you come from, if you pass ICAN exams, nobody will deny you based on your tribe.

3, ICAN IS A SOUTHERN BODY: I have heard a couple of northern friends, especially those in public service, accuse ICAN of being a southern thing. For this reason, many northerners believe they are being sidelined. Many northerners prefer to go for a rival accounting body. Again, this is naked myth. By the way, the current ICAN president is from the north.

4, ICAN IS A CULT: Given the solidarity and bond that exist among ICAN members, you can forgive those that hold this myth. I have heard people say ICAN is a cult, that they only admit certain people. Naija people sha. ICAN is the most transparently run Nigerian professional body I know. Everything about it is transparent. Of course, they are like a family, with young members treating the older and senior ones with high reverence.

Pa Akintola Williams (right), Doyen of Accounting in Nigeria, flagged by ICAN president

This is why you see members literally idolizing the legends of the trade like Pa Akintola Williams and other grandmasters. Well, that is why it is a professional body. Respect is part of the trade.

So, be not afraid, you can with ICAN!

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