The rationale for the new syllabus is to meet the challenges posed by the world being a
global village so that our graduates can be well versed in knowledge, skills and
professionalism to deliver seamless and excellent services to their employers and clients.
The old syllabus had a five-level structure with a total of nineteen papers, while this new
syllabus has a structure with a robust content, which will meet the challenges of the world
economy. It has a four-level structure with a total of fifteen papers. It has not only
expanded the scope and contents of the old syllabus but has introduced more of ethics
and information technology as the bedrock on which to propel the examination of our
students. The syllabus is in compliance with the requirements of International Accounting
Education Standards Board (IAESB) of the International Federation of Accountants (IFAC)
and the World Bank Report on Observance of Standards and Codes (2004).
The Foundation Level is knowledge based; the Intermediate Level is skills based, while the
Professional I and Professional II examinations are areas of essential and core
competencies. This is in line with the Institute's current policy on specialisation of our
graduates on passing the 15-paper examinations to choose a minimum of one and a
maximum of three faculties of interests out of the six faculties, namely: (1) Audit,
Investigations and Forensic Accounting (2) Taxation and Fiscal Policy Management 3)
Consultancy and Information Technology (4) Insolvency and Corporate Re-engineering (5)
Public Finance Management and (6) Corporate Finance Management.
Overall, this syllabus is student-friendly and will certainly meet the needs of employers of
labour whether in the public or private sectors, accounting and consulting firms and
training institutions.
In conclusion, this new syllabus that comes into effect in May 2010 will ensure that the
education and training of students are adequate and comparable with world class
standards of training of Professional Accountants.
FRANCIS OJAIDE, Ph.D, FCA
Chairman, Syllabus Review Technical Committee
