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On passing the qualifying examination of the Institute or having a foreign professional qualification acceptable to the Institute, Procedure on Online Application for Membership / Induction will be sent along with the result slip to qualified candidates. OR At the submission of the Special Candidates Course Certificates by members of Foreign Institutes approved by ICAN. Successful applicants are duly informed of their application if approved by Council and deferred applications are referred to the applicants with reasons for deferment. Inductees are admitted as members at Induction. which holds twice a year, May and November. · Persons accorded 'approved' by the Council shall be entitled to the use of the title - ACA.
TRANSFER TO FELLOWSHIP PROCEDURE
Associate members of the Institute who have been in continuous practice on their own account for five years or those who are not in practice as an Associate of the Institute for a period of ten years, are eligible to apply for transfer to Fellowship of the Institute. Eligible members are to complete an application for transfer to Fellowship form online after payment of the prescribed transfer fee. The application forms are processed for Council's consideration. Successful applicants are duly informed of their elevation to the status of a 'Fellow' of the Institute. Persons accorded approval by the Council, shall be entitled to the use of the title - FCA.
There are two main Classes of membership of the Institute, namely: Chartered Accountants and Registered Accountants.
A person shall be enrolled as a Chartered Accountant if: a. He passes the qualifying examination for membership conducted by the Council of the Institute and completes any prescribed training, (section 8 (1) (a)) OR b. He holds a qualification granted outside Nigeria and for the time being accepted by the Institute, and he satisfies the Council of the Institute that he had sufficient practical experience as an Accountant (Section 8 (1) (b)). Admission to membership as a Chartered Accountant, in pursuance of section 8 (1) (a) of the Act, can be obtained by serving a specific period under articles of approved studentship and by passing the Institute's professional examinations. A member of any of the following professional bodies:
i. The Institute of Chartered Accountants in England and Wales;
ii. The Institute of Chartered Accountants of Scotland;
iii. The Institute of Chartered Accountants in Ireland;
iv. Association of Chartered Certified Accountants;
v. The American Institute of Certified Public Accountants;
vi. The Canadian Institute of Chartered Accountants;
vii. Chartered Institute of Management Accountants;
viii. The Chartered Institute of Public Finance and Accountancy; shall be eligible under the present Rules and Regulations of the Institute to be enrolled as a Chartered Accountant after an intensive two week full-time course.
A person is entitled to be enrolled as a registered Accountant if he satisfies the Council of the Institute that immediately before the appointed day (i.e. 1st September 1965), he has had not less than five years experience as an inspector and auditor of company affairs under the provisions of the Companies Act (section 8(2) ICAN Act).
Members of the Institute are entitled to use one of the following designatory letters after his name:
In the case of a Fellow, the letter 'FCA' (representing the words 'Fellow of the Institute of Chartered Accountants'.
In the case of the Associate, the letter 'ACA' (representing the words 'Associate of the Institute of Chartered Accountants').
In the case of Registered Members, the letters 'RA' (representing the words 'Registered Accountant').