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The Institute of Chartered Accountants of Nigeria has released a new syllabus for its professional examination.

The institute said on Saturday that the new syllabus which takes effect from March 2021 was developed in line with its resolve to “continue to produce future-ready chartered accountants with skills and competences desired by the market.”

The ICAN President, Onome Adewuyi, unveiled the new syllabus, adding that the revised syllabus captured subjects on emerging technologies that “are disrupting the accounting profession, such as Block Chain Technology, Artificial Intelligence, Machine Learning and Internet of Things.”

The President noted that new trends in the Nigerian environment such as the Finance Act 2019 which introduced new developments in the country’s tax system and the new Companies and Allied Matters Act 2020 also necessitated a review of the syllabus.

ICAN in a statement on Saturday said the institute had also signed a Mutual Cooperation Agreement with two universities; Adeleke University Ede, Osun State and the Federal University, Nekede, Owerri, Imo State, thus bringing the number of institutions under the scheme to 23.

ICAN said, “All the 23 institutions are obligated to incorporate the requirements of the new syllabus in their curriculum. The agreement meant that accounting students in the two institutions, and the 21 before them, would study, using the integrated accounting curriculum of ICAN, National Universities Commission and the National Board for Technical Education.

“The President added that the current syllabus was reviewed in 2018 but the rapidly changing environment necessitated a revisit of the status quo from the five-year policy of the syllabus review to a more regular one that proactively responds to the demands of the market.”

(Punch)