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Institute of Company and Commercial Accountants (ICCA)

INSTITUTE OF COMPANY AND COMMERCIAL ACCOUNTANTS OF NIGERIA

Institute of Company and Commercial Accountants was incorporated with Corporate Affairs Commission Abuja on March 19th, 1999 with RC.353005 as stipulated by Companies and Allied Matters Act 1990, as amended by Cap 20 of Law of Federation 2004. ICCA is the only professional institute in Federal Republic of Nigeria that combines “Professionalism with Academic”, hence which informs the Affiliation between ICCA and University of Entrepreneurship & Technology, State of Delaware, United States of America.

“INSTITUTE OF COMPANY & COMMERCIAL ACCOUNTANTS NIGERIA (CHARTERED) ESTABLISHMENT ACT 2015” H.B.68 was presented for 1st reading and passage on November 18th, 2015 by Honorable CHIKE J. OKAFOR of House of Representatives under distinguish leadership R.T. Honorable YAKUBU DOGARA, GCON based on Federal Ministry of Justice letter dated December 30th, 2013 ref. Bill 702/J a vetted clean copy of the Draft Bill for An Act to establish ICCA together with Federal Ministry of Education letter dated 2nd May, 2014 ref. DE/ESS/20/EV/VOL.2/43 Mandating us to forward ICCA Draft BILL for An Act 2015 to House of Representatives and Upper House (Senate) for further legislative processes.

AIMS AND OBJECTIVES

The objectives of the Institute are:

  • To cater for Small and Medium Scale Entrepreneurs (SMEs) which are the heartbeat of our nation’s economy, to reduce low GDP, low productivity rate, high inflation rate, low GNI, and unemployment so as to boost growth and development of the Federal Republic of Nigeria economy.
  • ICCA is to engage in the training of accountants for the Small and Medium Scale Entrepreneurs at an optimal rate to be affordable by the entrepreneurs of SMEs that will enable them to achieve maximum capacity building in the sector, maximize their profitability and sustainable growth in the long run, as well as having derivative impact on the overall economy.

ICCA COMPARATIVE ADVANTAGE TO OTHER PROFESSIONAL BODIES

  • ICCA’s focus on Small and Medium Scale Enterprises (SMEs), which is the heartbeat and bedrock of the Nigerian economy, will create forensic accounting and auditing practices for 37 million Micro, Small, and Medium Scale Enterprises (MSMEs), which make up 48% of the GDP and provide employment for about 60 million people in the labor market.
  • ICCA will educate, encourage, and sensitize 37 million MSME operators by bringing them into the tax net of the government, thereby increasing the Internally Generated Revenue (IGR) of the Federal Inland Revenue Service (FIRS) and State Inland Revenue Services (SIRS) in the non-oil sector from its present position of 34.21% to 87%, which also forms a major component to increase our GDP rate.