
Frequently Asked Questions (FAQs) - Guide to Becoming a Chartered Accountant in Ghana
Welcome to Excellence. Welcome to World Class.
-
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?
You 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: GHS 400. A one-time fee paid directly to ICAG when you first register as an ICAG student.
Annual Subscription Fee: GHS 400. Paid once every year directly to ICAG.
Exemption Fee: Paid directly to ICAG per paper only when you apply for exemptions. Level 1 - GHS 618 per paper exempted; Level 2 - GHS 990 per paper exempted; Level 3 - GHS 1,200 per paper exempted.
Examination Fee: Paid directly to ICAG for the specific papers you intend to write for an exam session. ICAG Examination fees are graduated based on the number of papers a candidate intends to sit per Level.
Level 1 : Ranges from GHS 444 (1 paper) to GHS 1,375 (4 papers).
Level 2: Ranges from GHS 792 (1 paper) to GHS 3,636 (6 papers).
Level 3: Ranges from GHS 960 (1 paper) to GHS 2,544 (4 papers).
For the most current fee schedule, please visit the ICAG website.
-
What fees are payable to MSL Business School?
MSL Business School’s ICAG fee structure is simple and transparent. You only pay a tuition fee per paper, which is charged per exam sitting. There are no hidden charges, registration fees, or administrative add-ons.
The tuition fees per paper are as follows:
ICAG Level 1 - GHS 450 per paper
ICAG Level 2 - GHS 550 per paper
ICAG Level 3 - GHS 600 per paper
-
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 30 National Awards, including achieving the Overall Best Graduating Student Award in all three ICAG exam sittings in 2024.
To see our award-winning students, visit this link: https://www.mslbusinessschool.com/awards
-
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
-
Are there any special rules for Members of other Professional Accounting Organisations who want to become ICAG Members?
Members of the other Professional Accounting Organisation (PAO) bodies recognised by the International Federation of Accountants (IFAC) eg. ACCA UK, CIMA UK, ICAN, SAICA etc. who want to become members of ICAG, may apply for exemptions for all subjects that will not be registered for examinations. After the Institute approves the exemptions, the student pays for them before registering for the examinations.
The subjects to be taken in the ICAG examinations by members of other PAO are:
- Public Sector Accounting & Finance (Paper 2.5)
- Advanced Taxation (Paper 3.3)
- Advanced Audit and Assurance (Paper 3.2) - if it was not written and passed under the PAO
-
When can I call myself a "Chartered Accountant"?
After successfully passing all required examinations and gaining the required practical experience, you can apply for Full Membership of ICAG. The process involves:
- Completing an induction course.
- Submitting a completed membership form with details of your work experience and referees who are ICAG members in good standing.
The application is then reviewed by the Admissions Committee of ICAG before your final admission.
Before becoming a Full Member of ICAG, you must obtain a minimum of three (3) years of relevant practical experience in an approved training environment.
This experience can be gained in: An accounting or auditing firm, working under a qualified accountant in a private or public organization, and teaching an accountancy-related subject in an accredited tertiary institution, among others.