Ican and Cpa Canada Mutual Agreement

In a recent development, the Institute of Chartered Accountants of Nigeria (ICAN) and CPA Canada have entered into a mutual agreement to recognize the qualifications and professional designations of each other’s members. This agreement is expected to strengthen the relationship between the two accounting bodies and foster the growth of the accounting profession in both countries.

The agreement was signed by the President of ICAN, Dame Onome Joy Adewuyi, and the President and CEO of CPA Canada, Joy Thomas. Speaking on the agreement, Dame Adewuyi noted that it will provide a platform for Nigerian Chartered Accountants to operate globally and increase their professional exposure.

Similarly, Joy Thomas expressed her excitement about the agreement, stating that it will provide opportunities for the exchange of knowledge and best practices between the two accounting bodies. She also noted that the partnership will enable Canadian Chartered Professional Accountants to operate in Nigeria and expand their knowledge of the African business environment.

Under the agreement, ICAN members who hold the Chartered Accountants (CA) designation will be recognized as Chartered Professional Accountants (CPA) in Canada. Similarly, Canadian CPA members will be recognized as Chartered Accountants in Nigeria. This means that members of both organizations can practice and offer their professional services in each other’s countries.

The mutual agreement is also expected to enhance the mobility of professionals between Nigeria and Canada, as it will eliminate the need for members of either organization to take additional exams or undergo further training and certification in order to practice in the other country.

This partnership is a significant step towards the international recognition of the professional designations of both organizations and the promotion of the accounting profession globally. It will also provide opportunities for ICAN and CPA Canada members to network, collaborate, and engage in capacity building activities.

In conclusion, the mutual agreement between ICAN and CPA Canada is a positive development for the accounting profession in Nigeria and Canada. It is a testament to the commitment of both organizations to promote the highest standards of professionalism and ethics in the practice of accounting.