Two Tertiary Institutions join MCATI, enabling their Accounting Graduates get more ICAN Exemptions
The Institute of Chartered Accountants of Nigeria (ICAN) has signed the Mutual Cooperation Agreement with Tertiary Institutions (MCATI) with two new institutions. The Institutions are: Adeleke University Ede, Osun State and the Federal University, Nekede, Owerri, Imo State.
This brings the number of institutions under MCATI to twenty three (23). The scheme which aims to deepen the standards of learning and dissemination of knowledge of Accounting in Nigeria, obligates all the partnering tertiary institutions to use the integrated accounting curriculum of ICAN, National Universities Commission (NUC) and National Board for Technical Education (NBTE) as the case may be.
The benefit of MCATI for accounting graduates of these Institutions is that the graduates of the two institutions, and the graduates of the 21 institutions before them, would be granted 10 subject exemptions instead of 7 subjects under the normal ICAN accreditation scheme.
Signing on behalf of the Institute in Lagos last week, ICAN President Dame Onome Joy Adewuyi FCA, explained that under the arrangement, accounting programmes of the partnering institutions from entry level to graduation will be moderated by ICAN to ensure they maintain the right professional standard in terms of course depth, teaching and examination.
She pointed out that an ICAN technical team would regularly visit the institutions to monitor the accounting programmes to ensure they are in accordance with the terms of the agreement.
Speaking at the signing ceremony, the Deputy Vice chancellor of Adeleke University Ede, Professor Luke Onuoha, thanked ICAN for the prestige the MCATI confers and pledged that the university would maintain the high standards that has attracted ICAN’s endorsement.
He said the accreditation has conferred a special impetus to the university which would project it in better light, describing it as a “full cup of motivation.”
Similarly, the Rector of the Polytechnic, Nekede, Owerri, Engr. Michael Arimanwa while acknowledging that entry into the MCATI programme was an endorsement of the Institution’s commitment to the diligence and excellence that ICAN is noted for, he said the target was to make the Polytechnic a professional accounting training hub in the South East of the country.