The Association of Chartered Certified Accountants (ACCA) is an international professional accountancy organization that offers its students and members a variety of globally recognized qualifications they need to establish a flourishing career in accountancy. Being an international body, ACCA has offices across many countries, of which Nigeria is one of them. To become a member of ACCA in Nigeria, you have to go through the registration process, pass the exams, and get inducted.
The ACCA Nigeria registration process is not a difficult one. However, people need guidance in going through the process. This piece contains everything you need to know about the ACCA registration process and exam fees.
A Brief History of ACCA
Created in 1904, the body boasts over 227,000 qualified members and 554,000 students worldwide, including Nigeria. It has offices and centers in 181 countries of the world. Before the entrance of ACCA into Nigeria in 2011, the Institute of Chartered Accountants of Nigeria (ICAN), and the Association of National Accountants of Nigeria (ACAN), were the dominating professional accounting bodies in Nigeria.
The coming of ACCA into Nigeria has not displaced other national bodies that existed before it. They are all recognized in Nigeria and have continued to certify Nigerians who are willing to join the bodies. ACCA offices in Nigeria are situated in Port Harcourt (Oginigba on Plot 129-131 of the Trans Amadi Industrial Layout), Abuja (the Central Business District on Constitution Avenue), and Lagos (Etim Inyang Street on Victoria Island).
The ACCA Nigeria Registration Process
As we have already stated, the registration process for ACCA in Nigeria is straightforward and can be done online. Online application is the fastest and easiest of all the application processes. You can visit an ACCA center near you if you are not satisfied with the online process. All you have to do is present the required documents and make sure you meet the qualifications required. Also, you can complete your registration any time of the year, after which you will be notified when a new session starts for the program. Below is a step-by-step procedure for registering for ACCA in Nigeria.
- Get all your documents ready for upload.
- Visit myACCA to set up your online account and profile.
- Go to ACCA official website https://www.accaglobal.com/africa/en.html
- Click on Apply now
- On the next page, review the requirements and ensure you are qualified
- Click on Get started once you’re done reading the requirements
- Input your title, name, email address and click continue
- On the next page, enter your date of birth, gender, nationality, and address information. Then click Save and continue
- Select the ACCA qualification you are applying for, click save, and continue
- On the next page, upload the required documents and continue
- Follow the instructions to the end for your application to be successful.
To complete your registration, you have to pay your registration fee online with either your debit, credit or prepaid card.
Documents and Requirements Needed for ACCA Registration
There are some documents required for the completion of the ACCA registration process in Nigeria. The minimum entry requirements of two A-Levels and Three GCSEs or their equivalent are needed to qualify. Below is a list of the required documents.
- Means of Identification – National ID Card or Driver’s License, Passport, and copy of the birth certificate.
- Minimum entry requirements are Diploma (from a Federal University), NCE, Advanced Diploma (from a Federal University), Diploma.
- Details of your previous qualifications
- Digital copies of your proof of qualification
- A passport-sized photograph (digital copy)
- You should be able to pay online with your debit card, prepaid card, or credit card.
- Your educational documents must be signed and stamped with the logo of the awarding institution.
- Your document must show the date you completed your full academic award
- Proof of change of name if it applies to you.
- If your documents are not in English, they should be translated into English plus the documents in their original languages.
How Much does ACCA Registration Cost?
There are four different levels of fees payable at ACCA. They are
- Registration fees: This type of fee is one-off, paid only at the point of registration. The one-time registration fee is £89. If you want to continue as a student after the first registration fee, you have to re-register by paying another registration fee.
- Annual Subscription fee: The subscription fee is paid annually by members of the body. Any year you didn’t pay your subscription fee, you will not be able to use your membership that year. The annual subscription fee is £112. This fee is paid on or before 1st January every year.
- Entry fee for exams: Whenever you sit for an exam, you will pay an entry fee to be allowed to take that exam. If you fail to pay the entry fee, you will not sit for the exam. Applied Knowledge Exams are exams that can be taken on demand, and the fees are fixed by the Centers. The exam fees for Applied Skills exams range from £123 to £348 for early and late entries, respectively.
- Fees for exams you are exempted from: If you wish to be exempted from an exam for one reason or the other, you have to pay this exemption fee. The exemption fee for the applied knowledge exams is £98, while the exemption fee for the applied skills exam is £123.
How to Pay ACCA Fees
To pay ACCA fees in Nigeria, you can pay locally pay for registration, exemption, and subscription fees. However, exam fees cannot be paid with this channel. Students and members can make payments to Zenith Bank account with the name Seacron Educational Nigeria Limited. After payments, you will send your payment receipt or evidence of payment to [email protected], or you can send the proof to the WhatsApp number – +2348087890420.
Payments for ACCA exams are usually made in many ways, but the easiest is online payment via myACCA. If you wish to, you can pay online using your debit card (Visa, Mastercard, China UnionPay), PayPal, credit card (Visa, MasterCard, American Express (AMEX), China UnionPay), Alipay, and pre-paid debit card. You can make an online payment by clicking here. Log into your profile and find the pay online button. Once your payment is successful, you will receive an acknowledgment email from ACCA within 48 hours. And once this is done, you can log in to your ACCA account to do other necessary things.
Interestingly, there are alternative methods of payment on ACCA, and they are – Sterling bank drafts drawn on a UK bank, Crossed GBP cheque, and Crossed British Postal Order. It is important to note that your drafts and cheques should be made payable to ‘ACCA.’ Do not forget to provide your ID number on the front of cheques/drafts. Affiliates, members, and registered students are expected to check that their payment has been processed by visiting their myACCA account. You are expected to contact ACCA Connect by phone or email if you encounter a problem with your payment.
How to Become a Member of ACCA
To become a member of ACCA, you need to register and make payment for your ACCA exams, write and pass the exams. Like any other professional body, you are expected to apply for membership only after you have completed the following:
- Written and passed the exams (13 professional examinations)
- Your Professional Ethics module
- The practical experience requirements by –
- Completing the necessary nine performance objectives.
- Achieving three years in a relevant finance or accountancy role.
- Ensuring your experience is signed off by your practical experience supervisor.
Application for membership on ACCA takes place online at myACCA, or you can download and fill the application form in the Related Documents section on ACCA’s homepage, after which you’ll return it to the body. Ensure that you regularly visit and upgrade your PER progress using My Experience, else you might not be invited to become a member anytime soon.
Get copies of any documentation relating to your relevant work experience and employment handy as it may be needed for PER audit purposes. Do not forget to complete the Professional Ethics module and keep your email address and contact details alive to avoid delayed invitations from ACCA. You’ll be emailed or sent a letter inviting you to become a member once you meet the membership requirements.
How Many Stages Does ACCA Have?
ACCA has three main stages; the Applied Knowledge Stage, the Applied Skills stage, and the Strategic Professional stage. Each of these stages contains some courses that are to be taken to move to the next stage. These are the modules, and for you to become a member, you must have completed the requirements of these modules.
- Applied Knowledge stage: This is the first stage of the module, and you must complete this stage before moving to the next stage. It has three exams, namely;
- Financial Accounting (FA)
- Business and Technology (BT)
- Management Account (MA)
- The Applied Skills stage: This stage immediately follows the Applied Knowledge stage. You must complete this stage also before moving to the next stage. It has six exams, namely;
- Taxation (TX)
- Audit and Assurance (AA)
- Financial Management (FM)
- Corporate and Business Law (LW)
- Financial Reporting (FR)
- Performance Management (PM)
- The Strategic Professional stage: This is the last stage and is sub-divided into two; the essentials and the Options. The stage has six exams. The compulsory exams are; Strategic Business Leader (SBL) and Strategic Business Reporting (SBR). While in the Options, you choose two only. They are;
- Advanced Audit and Assurance (AAA) (the UK or international)
- Advanced Performance Management (APM)
- Advanced Taxation (AT)
- Advanced Financial Management (AFM)
Levels of ACCA Membership and How to Qualify for Each Level
ACCA has two membership levels; they are Affiliate members and fellowships. Continuing Professional Development is for all members.
- Affiliate: Once you have completed and passed your exams, the candidate qualifies to be an Affiliate member. This is the first status of membership. For you to move on to the next level of membership, you need to indicate in your application form. They must have obtained at least three years of supervised experience in Accountancy roles and have attained a standard competence.
- Fellowship: This is the second and senior level of membership. This membership is awarded automatically to members who have maintained five years of continuous membership. This level of membership started in 2008 following the requirements of Continuing Professional Development. Fellow members use FCCA instead of ACCA.
- Continuing Professional Development: The Continuing Professional Development requirements are mandatory for all members from 2005-2007. Before then, it was compulsory for only Insolvency License and Practising Certificate holders.
Categories of People Qualified to Register for ACCA
For you to be eligible for ACCA, you must have attained 18 years of age. The ACCA professional body is mainly for people in the following career fields either with B.Sc, OND, ND, HND, B.Tech, or other similar qualifications.
- Finance professionals
- Non-finance professionals with financial responsibility
Moreover, there are levels of qualifications, some of which are;
- UK University matriculation level qualification
- Entry-level qualifications: This is the minimum qualification level that allows diploma and NCE holders to register for ACCA.
- Foundation level qualifications: This level consists of awards, diplomas, and certifications. It is for those who have completed some courses in the financial or accounting field. Also, those certified by other professional bodies can apply through this level.
Why Nigerian Accountants Should Join ACCA
- Studying with ACCA opens your doors to the best positions, and you get to work anywhere in the world.
- Since it is an international body, ACCA certification and membership are recognized worldwide, making it easier for any Nigerian accountant who intends to travel out for work.
- ACCA is supported by quality tuition, and you get to choose learning partners.
- Some of the exams can be taken on-demand, and you won’t have to rush your learning process. You learn at your own pace and write your exams when you’re ready.
- The Acca registration process is easy and can be done online from anywhere in Nigeria. Nigerian Accountants and finance professionals can register and become a member at the comfort of their homes. There are also online tutorials that will help you if you are not free to attend physicals classes.