Overview of New Syllabus changes effective November 2025
Retaining 15 subjects structure, the new syllabus emphasizes ethics, assessment methods, and professional skepticism. It includes major structural reviews every 3 years, incorporating IFAC ISSB standards, and enhancing soft skills. With focus on sustainability reporting, responsible finance, and digital age readiness, the syllabus aligns with evolving industry needs. Structural changes at Foundation and Skills levels reflect updated content requirements, ensuring Chartered accountants are equipped for the future.
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Presentation Transcript
OVERVIEW OF THE NEW SYLLABUS EFFECTIVE NOVEMBER 2025 EFFECTIVE NOVEMBER 2025
GENERAL INFORMATION A15-Subjects structure is retained in the new syllabus Each subject syllabus contains the following content: Prior knowledge where applicable Ethics Method of assessment and Topic weighting Ethics and professional scepticism Specification grid.
New paradigm in the new syllabus review Major Structural Review of the syllabus every 3years with annual update Incorporation of IFAC International Sustainability Standards Board s (ISSB s) new standards Sustainability reporting, sustainable and responsible finance Soft skills increasingly required by the accountant to effectively perform Latest development on Initial Professional Development (IPD) of Professional Accounting Organisations (PAOs) to incorporate International Education Standards (IES) 1- 5: International Panel on Accounting Education (IPAE) of IFAC. Local developments Finance Act 2020, 2021, 2022, 2023 Petroleum Industry Act (PIA), 2021
New incorporations into the new syllabus Skills sets required by Chartered accountants to cope with technological disruptions in a digital age and prepare future ready accountants. Sustainability reporting, sustainable and responsible finance. Soft skills required by accountants to operate in the 21stcentury. Provisions of the Petroleum Industry Act (PIA), 2021 Changes occasioned by the Finance Act, 20120, 2021, 2022, and 2023. Reflect the proper accountability and more efficient public financial management called for by the ICAN Accountability Index
Structural changes 1. At Foundation Level: Management Information is replaced with ManagementAccounting Business, Management and Finance is renamed Business Environment,to reflect the new contents (Finance aspect is taken to Financial Management at Skills, while Economic section is expanded) Business Law is changed to Corporate and Business Law
Structural changes 2.At the Skills Level: Anew subject, Financial Management is introduced Financial Reporting now include the sustainability reporting standards by ISSB (however, limited to IFRS S1 at this level). Audit and Assurance is changed to Audit, Assurance and Forensics, to allow enlarged treatment of Forensics. Corporate Strategic Management and Ethics is removed from the examination structure (some aspects of the subject are subsumed in the Strategic Financial Management at the Professional Level).
Structural changes 3. At the Professional Level: Corporate Reporting is changed to Strategic Business Reporting, to accommodate the new sustainability reporting standards issued by the International Sustainability Reporting Board (ISSB). Strategic Financial Management now include some aspects of Strategic Management and Risks, taken from Corporate Strategic Management and Ethics.
The new structure 2025 Syllabus 2021 Syllabus 2021 llabus 2024 Syllabus Foundation Foundation Business Management & Finance Business Environment Financial Accounting Financial Accounting Management Accounting Management Information Corporate and Business Law Business Law
The new structure 2021 Syllabus 2025 Syllabus Skills Skills Financial Reporting Financial Reporting Audit and Assurance Audit, Assurance and Forensics Taxation Taxation Corp. Strategic Management & Ethics Financial Management Performance Management Performance Management Public Sector Accounting & Finance Public Sector Accounting & Finance
The new structure 2021 Syllabus 2025 Syllabus Professional Level Professional Level Corporate Reporting Strategic Business Reporting Advanced Audit & Assurance Advanced Audit & Assurance Strategic Financial Management Strategic Financial Management Advanced Taxation Advanced Taxation Case Study Case Study
Highlights of other areas to note 2021 Syllabus Foundation Existing structure maintained 2025 Syllabus Skills and Professional Levels Section A. One 30-mark compulsory scenario-based question from the core topic of the subject. Section B. 3 questions of 20 marks each and candidates will be required to attempt any 2 questions. Section C. 3 questions of 15 marks each and candidates will be required to attempt any 2 questions. Section A: twenty (20) compulsory multiple-choice questions which shall cover the entire contents of the syllabus. This section shall make up 20% of the total marks. Section B: six open-ended questions (essay, computational or scenario-based) carrying 20 marks each of which candidates will be required to answer any 4. Pass mark remains 50% for each subject.
Highlights contd Part 1 (IES 1 and 2) Entry requirement and technical development IES 1- Entry Requirements to Professional Accounting Education Programs IES 2 - Initial Professional Development (IPD)-Technical Competence 15 Technical subjects examination Foundation Skills Professional 4 subjects 6 subjects 5 subjects IES 3 - Professional development- To be acquired through professional training in the office IES 4 - Ethics and soft skills Online exam through ICAN portal IES 5 - Practical work experience To be recorded through MyIcan page
Highlights contd 1. Another interesting part of the syllabus is the decision of the Council to provide a waiver through a clause that stated No candidate who has failed subject(s) in the professional examination (Foundation, Skills and Professional) will be exempted from the same subject(s). This rule will only be waived in individual cases, where the candidate provides evidence of having attained the requisite skills/competences being tested in the subject, through the additional qualification/certificate that might have qualified such a candidate for an exemption from the subject(s) . By implication, if any student has written a subject before and failed but acquired additional qualification(s) that will qualify him or her for exemption from the subject failed, such shall be considered for the exemption.
