Frequently Asked Questions (FAQs) - Guide to Becoming a Chartered Accountant in Ghana

  • Who is eligible to write the ICAG professional qualifying exams?

    To be eligible for the ICAG exams, you need to have one of the following qualifications:

    WASSCE: Six credits, which must include English and Core Mathematics.

    SSSCE/GBCE: Six passes, including English and Core Mathematics.

    Diploma, HND, or Degree: Various tertiary qualifications are accepted by the Institute.

    ATSWA: A qualification from the Accounting Technician Scheme West Africa.

  • How is the ICAG exam structured?

    The ICAG Professional Qualifying Examination is structured into three levels, with a total of 14 papers.

    Level 1 (Knowledge): 4 papers.

    Level 2 (Application): 6 papers.

    Level 3 (Professional): 4 papers.

  • What specific papers are in each level?

    The papers for each level are as follows:

    Level 1: Financial Accounting, Business Management & Information Systems, Business & Corporate Law, and Introduction to Cost & Management Accounting.

    Level 2: Financial Reporting, Management Accounting, Audit & Assurance, Financial Management, Public Sector Accounting & Finance, and Principles of Taxation.

    Level 3: Corporate Reporting, Advanced Audit & Assurance, Advanced Taxation, and Strategic Case Study.

  • What is the passing mark for an ICAG paper?

    The pass mark for all ICAG papers is 50%.

  • Are there rules about which papers I can write at the same time?

    Yes. While you can generally write any number of papers, the following rules apply:

    A Level 1 student with only one paper left to finish the level can add up to four papers from Level 2.

    You cannot write a Level 3 paper if you have any outstanding papers in Level 1.

    You cannot write a Level 3 paper if you have more than one paper remaining in Level 2. A Level 2 student with one paper left can take it along with any number of Level 3 papers.

  • Can I get exemptions from any papers?

    Yes, exemptions are granted based on your existing qualifications.

    Diploma in Accounting / HND Accountancy: Exempt from all Level 1 papers. HND holders also get an exemption for Audit and Assurance.

    ATSWA Holders: Exempt from all Level 1 papers, plus Audit and Assurance, and Principles of Taxation at Level 2.

    Bachelor's Degree in Accounting: Exempt from all Level 1 papers, plus Audit and Assurance, and Principles of Taxation.

    Master's Degree in Accounting: Exempt from all Level 1 and Level 2 papers, except for Public Sector Accounting and Finance.

    Other Degrees (Bachelor's or Master's) and Professional Qualifications: Exemptions are considered on a subject-by-subject basis by reviewing your academic transcript.

  • Are there special exemptions for university students?

    Yes, Level 300 Accounting or Finance students from universities that have a Memorandum of Understanding (MOU) with ICAG can receive special exemptions after successfully completing their Level 300 courses.

    Accounting Option: Exempt from all Level 1 papers, plus Audit and Assurance, and Principles of Taxation.

    Finance Option: Exempt from all Level 1 papers. Further exemptions for Audit and Assurance and/or Principles of Taxation are granted only if the student has already taken those courses.

  • When and where can I take the ICAG exams?

    The exams are held three times a year: in March, July, and November.

    Level 1 exams are conducted online and can be taken from any suitable location with a compatible computer and internet access.

    Level 2 and Level 3 exams are held at various centers, including Accra, Kumasi, Takoradi, Tamale, Sunyani, Ho, Wa, Koforidua, Bolgatanga, Cape Coast, Tema, and Monrovia (Liberia).

  • How do I register as an ICAG student?

    ou can register on the ICAG student portal at sms.icagh.org/login. You will need to select "I want to register as a student at ICAG" and fill out the required information. Be prepared to upload soft copies of your certificates, a valid national ID, and a passport-sized photograph.

  • What fees do I pay directly to ICAG?

    The fees payable directly to ICAG include:

    Registration Fee: A one-time fee when you first register as a student.

    Annual Subscription Fee: Paid once every year.

    Exemption Fee: Paid only when you apply for exemptions.

    Examination Fee: Paid for the specific papers you intend to write for an exam session.

    For the most current fee schedule, please visit the ICAG website.

  • Why should I choose MSL Business School for my ICAG tuition?

    MSL Business School is dedicated to providing world-class exam preparation to help you pass the first time. Our students have an excellent track record, with over 25 National Awards, including achieving the Overall Best Graduating Student Award in all three ICAG exam sittings in 2024.

  • How does MSL Business School deliver its classes?

    We use the best technology to ensure you can pass the first time. All our classes are delivered live online via Google Meet. This provides a flexible and accessible learning environment.

  • What if I miss a live class? Are recordings available?

    Yes. Recordings of every live session are uploaded to the MSL Business School App on the same day the class is held. This gives you the complete flexibility to study anytime and anywhere without restrictions.

  • What are the key features of the MSL Business School App?

    The MSL Business School App is a powerful and interactive learning hub designed to support your studies. Its key features include:

    Same-Day Recordings: You get full access to recordings of every live class, which are uploaded on the same day they are held. This gives you the flexibility to study anytime and anywhere without restrictions.

    Interactive Study Tools: The app includes several tools to help you master the material. You can test your knowledge with Quizzes and compete with friends on a leaderboard , and use the Flashcards feature as a fun, interactive way to revise key topics on the go.

    MSL SmartConnect: This is an interactive communication feature that allows you to connect with your course mates. You can send messages, share images and files, and stay up-to-date with class announcements.

    Modern and Fast Interface: The app has a clean, modern design for smooth navigation and is optimized for faster loading times and overall stability, ensuring your learning is uninterrupted.

  • How can I register for tuition with MSL Business School?

    You can register by visiting our website at mslbusinessschool.com/icag. You can also contact us on WhatsApp at 053 579 7181. Alternatively, click this link to reach us directly on WhatsApp: https://wa.me/message/Z25B7PHFD4RHB1

  • Will I get reminders about important ICAG deadlines if I am a student at MSL?

    Yes. As a member of the MSL Business School community, you will receive timely updates on all key registration deadlines to ensure you are always well-informed.

  • Where can I get more information?

    For any further questions, please don't hesitate to reach out to us via WhatsApp at 053 579 7181 or click this link to reach us directly on WhatsApp: https://wa.me/message/Z25B7PHFD4RHB1