ICAN CAP-II
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ExploreAbout this exam
CAP-II is the second professional level of the chartered accountancy qualification awarded by the Institute of Chartered Accountants of Nigeria (ICAN). It sits between the foundation and final professional stages and is aimed at candidates who already hold credit at the earlier level and are building toward full membership. The syllabus is deliberately broad: financial reporting, audit and assurance, taxation, corporate strategy and ethics, management accounting, financial management, business law, IT and data analytics, and public sector accounting. In practice the exam rewards candidates who can move between technical computation and written professional judgement, because short-answer and case-study questions ask you to apply standards rather than recite them. Preparation usually means working through the ICAN study text alongside the relevant IFRS, ISA, and Nigerian tax and company law materials, then practising past-style questions under timed conditions. Build a study order around your weakest numerate area first, keep a running summary of standards and statutes, and rehearse written answers so your reasoning is visible to the marker. Always confirm the current syllabus, entry requirements, fees and exam timetable directly with ICAN, as these change and only the Institute publishes authoritative figures.
What you'll study
About ICAN CAP-II preparation
What is the format of the CAP-II exam?
Papers are sat as written examinations combining multiple-choice, short-answer and essay or case-study questions, depending on the subject. Expect computational workings plus written explanation, so practise showing your method clearly. ICAN publishes the current paper structure and any computer-based arrangements on its website.
How hard is CAP-II compared with the earlier level?
It is a clear step up. Questions assume you already know the basics and test application, judgement and time management across several standards in one paper. Most candidates find the volume of syllabus and the written explanation harder than the calculations themselves.
How much study time should I plan for?
There is no official figure, but working candidates commonly need several months per sitting with consistent weekly hours. Treat it like a part-time course: cover the syllabus once, then spend at least as long again on question practice and timed mock papers before the exam.
Can I retake a paper I fail, and how often are sittings held?
ICAN generally allows candidates to re-sit failed papers at subsequent scheduled sittings, subject to any attempt limits in its current regulations. Sittings, entry deadlines and re-sit rules are published by the Institute, so check its site rather than relying on second-hand information.
In what order should I take the CAP-II papers?
There is no single correct order. A practical approach is to pair related subjects, such as financial reporting with audit, and taxation with business law, so concepts reinforce each other. Take your weakest quantitative paper when you can give it the most time, and avoid stacking several heavy papers in one sitting.
Why do candidates fail, and how do I avoid it?
Common causes are shallow coverage of the syllabus, poor time allocation in the exam, skipping workings, and writing vague answers without referencing the applicable standard or law. Practise full papers under time pressure and get your answers marked so weak areas surface early.
How much does it cost and when are results released?
Fees, entry deadlines and result-release dates are set by ICAN and change over time. Only the Institute publishes the current figures, so confirm them on the official ICAN website or student portal before you plan payment or expect results.
How should I use past questions and the study text?
Read the study text for coverage, but make past-style questions the core of your revision. Attempt them closed-book, then compare against the suggested solution and note every missed standard or computation. Keep a one-page summary per topic for final-week review.