Covenant University and the Institute of Chartered Accountants of Nigeria (ICAN), on Wednesday, April 18, 2018, signed a Memorandum of Understanding (MoU) under the ICAN Mutual Cooperation Agreement with Tertiary Institutions (MCATI), which exempts undergraduate Accountancy students of Covenant from 11 subjects of ICAN’s professional examination.
ICAN President, Alhaji Isma’ila Muhammadu Zakari, said that the agreement is aimed at deepening the standards of learning and dissemination of knowledge of Accountancy in Nigerian tertiary institutions for the betterment of Nigeria.
Noting that the benefit of high-quality Accountancy education to Nigeria cannot be overemphasised, the ICAN President said that the MoU was essentially a collaboration between ICAN and Covenant University, wherein ICAN syllabus for the institute’s qualifying professional examinations, will be integrated with that of the University’s National Universities Commission-approved curriculum, for undergraduate accounting programme.
“The Mutual Cooperation Agreement requires that undergraduate accounting students will study, using the integrated ICAN/NUC-approved Accounting curriculum, and those who graduate from the Accounting Department of Covenant University would be granted 11 subjects exemption, which is the highest number of exemptions granted to any ICAN student as against 7 subjects exemption granted to students whose universities are under the normal ICAN accreditation scheme,” said Alhaji Zakari.
He added that the offer represents full exemptions from Foundation and Skills levels of ICAN Professional Examinations.
In his remarks, the Vice-Chancellor, Covenant University, Professor AAA. Atayero, said that it was a thing of joy for Covenant that an institution as formidable as ICAN found the University worthy of partnership. He added that partnerships like this are what the University needs to correct the ills currently besetting the Nigerian society and Africa at large.
The Vice-Chancellor reassured ICAN of Covenant’s full commitment to the success of the 2018 International Academic Conference of the body being hosted by the University. He said the University would offer the required support to ensure the success of the conference as well as support professional participation.
He encouraged ICAN officials to see the International Academic conference as a platform for a wider impact that would help shape and transform the participants and the society at large.
Also at the meeting were the Deputy Vice-Chancellor, Professor Shalom Chinedu; Registrar, Dr. Olumuyiwa Oludayo; Director, Financial Services, Pastor Sunday Abayomi; Dean, College of Business and Social Sciences, Professor Philip Alege; Director, Vice-Chancellor’s Office, Professor David Omole; Head, Department of Accounting, Dr. Olubunkunola Uwuigbe and representatives of the Legal Unit.