ICAG vs ACCA: Which should you pick?

photo_2016-02-17_12-41-40_pm.pngFor an advanced career in accounting, a professional certification is usually required. In Ghana, options include the Institute of Chartered Accountants – Ghana (ICAG), Association of Chartered Certified Accountants (ACCA) and Chartered Institute of Management Accountants (CIMA).

People with a degree seeking an accounting certification or seeking to go straight ahead from high school to seek the qualification often wonder which one to go for. I was in the same situation sometime back and I decided to go with ICAG. My choice notwithstanding, I’m going to objectively compare ICAG and ACCA. I hope people will find this post as useful as I would’ve found it back then.

Cost

ICAG charges a GH¢200 annual student subscription and a maximum of GH¢370 per paper in examinations. ACCA charges an annual student subscription of £116 and about £200 per paper. So ICAG is much more affordable.

Convenience

Both of them have 14 papers structured in 3 levels. You can write ICAG three times a year – April, August and December. You can write ACCA four times a year as well as write some computer-based papers on-demand. That makes ACCA much more flexible.

Difficulty

I’m going to be subjective here since I’ve not written any ACCA exam but I have seen their questions and I have friends who have written them.

ICAG is reputed to be very difficult. In fact, until about five years ago when ICAG decided to get more open and attract more students the tales of the examination’s difficulty were like a badge of honour for those who successfully completed it.

I have to admit that the examinations were the most challenging of my life so far. By challenging I’m talking about the investment of time in preparation for them and the quantity of work demanded per paper within the time allotted. I am informed that the ACCA is similarly challenging.

Therefore I recommend that one should not see either of them as an easy path to being a chartered accountant. Both of them require a lot of time and practice to pass the exams. I’m calling this a tie.

Recognition

In Ghana, only full members of the ICAG can call themselves Chartered Accountants. That gives them the authority to certify accounts. If you have an ACCA, you will be required to apply to ICAG and write some papers in order to be admitted into the fold. ICAG is also a member of IFAC and has a close relationship with ICAEW, so it’s recognised internationally. ACCA however, has the advantage of being more easily recognisable outside the country. This would prove useful especially when you need to work abroad. So on recognition, I’m going to say it depends on the career path you wish to take.

Update: An ACCA colleague told me that you only need to apply for membership to ICAG and pay a fee of GH¢5,200 to be admitted.

Career Prospects

Who knows? If you’ve already got a job any of these professional qualifications will boost your earnings. If you’re entry level having either of these will be about equal. In the end having either of these will not necessarily decide the path your career will take.

Conclusion

I hope you found this useful.

For tips on how to pass an ICAG exam, read this. For a comparison of ICAG and CIMA, click here.

288 comments

      • ACCA is far better in terms of recognition.
        In terms of difficulty, ACCA is much more difficult and detailed. I’m saying this not because I want to degrade our own ICA-G but because of my personal experiences. We were joined by some ICA-G students in our ACCA classes sometime ago. And the lecturer could teach and when it gets some tough areas, the lecturer tells the ICA-G students that “you can decide to listen for your own good, because it is not covered by your syllabus”. Those students themselves confessed when we were solving ACCA past questions. It’s was always a walk over when we solve ICA-G questions. I must also say that, ICA-G lifts ACCA questions. They only change the names of the entity. The rest is “dito dito”. So the ICA-G students in our class prepared with ACCA past questions and they all passed with high marks. I must admit that, ICA-G has its own challenges. But personally, the only hurdle with ICA-G is the writing of all level 3 paper at a sitting without any flexibility. I would also like to appeal to ICA-G to introduce the flexibility of taking any number of papers with a maximum per sitting.

  1. An added advantage for ICAG is that they have a scholarship scheme where students who obtained first class in their undergraduate study in a recognised Ghanaian university get to write the exams free of charge (and no student subscription fee or registration). The scholarship is withdrawn if the student fails any paper or attempts to write another Accounting exams concurrently. And the student must complete the exams within 5 years unlike the 10 years for those who are not on scholarship

  2. An added advantage for ICAG is that they have a scholarship scheme where students who obtained first class in their undergraduate study in a recognised Ghanaian university get to write the exams free of charge (and no student subscription fee or registration). The scholarship is withdrawn if the student fails any paper or attempts to write another Accounting exams concurrently. And the student must complete the exams within 5 years unlike the 10 years for those who are not on scholarship

  3. An added advantage for ICAG is that they have a scholarship scheme where students who obtained first class in their undergraduate study in a recognised Ghanaian university get to write the exams free of charge (and no student subscription fee or registration). The scholarship is withdrawn if the student fails any paper or attempts to write another Accounting exams concurrently. And the student must complete the exams within 5 years unlike the 10 years for those who are not on scholarship

  4. Jerome, is CA equivalent to ICM-UK. Please help me with certificates that are equivalent to CA II… Thank you.

  5. Jerome, is CA equivalent to ICM-UK. Please help me with certificates that are equivalent to CA II… Thank you.

      • CA can never be equal to ICAEW, ICAS, ACCA and others. These later mentioned qualifications have an international appeal and have a current syllabus which is updated frequently. In terms of Exam questions, that of ACCA is more practical (case study questions). CA copy past ACCA Exam questions most of the time for its students especially Financial Management and Financial Reporting papers.

  6. hi thanks a lot for this post – it’s been helpful. I ld like to know if icag and acca both have the same or similar topics. I didn’t know there was a difference until now. I only have acca materials but I want to register go in for icag. thanks

  7. hi thanks a lot for this post – it’s been helpful. I ld like to know if icag and acca both have the same or similar topics. I didn’t know there was a difference until now. I only have acca materials but I want to register go in for icag. thanks

  8. Hi Jerome, i seriously need your assistance, i completed UPSA this year and was awarded with Pass. I want to know if there is a way to better it to a honoured award. I also want to know if the CA can give me a better stand. Thank you.

  9. Hi Jerome, i seriously need your assistance, i completed UPSA this year and was awarded with Pass. I want to know if there is a way to better it to a honoured award. I also want to know if the CA can give me a better stand. Thank you.

    • A pass degree means you have a degree except that it did not come with any of the honour classes.Having a CA qualification in addition will enhance your standing with employers.

  10. I have entered into ICAG with my high school certificate (wassce) but some people are saying I should stop cos it not easy to pass there exams,others also says for wassce holders it will be difficult for me to be employed after completing my course.l am so confuse,please help me out.

  11. I have entered into ICAG with my high school certificate (wassce) but some people are saying I should stop cos it not easy to pass there exams,others also says for wassce holders it will be difficult for me to be employed after completing my course.l am so confuse,please help me out.

  12. Good information. Very useful. I’d love to see similar posts comparing different professional exams too

  13. Good information. Very useful. I’d love to see similar posts comparing different professional exams too

  14. Thus it mean when you complete your CA you will be given exemptions in a Masters’ Program I.e in Accounting/Finance

    If yes, how does it work? Can you please elaborate .

  15. Thus it mean when you complete your CA you will be given exemptions in a Masters’ Program I.e in Accounting/Finance

    If yes, how does it work? Can you please elaborate .

      • Again, can you use your ICA certificate to apply for a master’s program just as there are options to use your ACCA certificate to apply for masters program in some universities in UK

        Or beta still assuming you read Sociology at the bachelor degree level, can your ICA qualification or certificate help you to gain admission into a master’s program in Accounting or Finance

  16. I did the following courses at the undergraduate level:
    Financial Accounting, Cost and Management Accounting, Auditing, Taxation, Public Sector Accounting, Investment and Financial Management.
    I want to know whether I will be exempted from those courses or still force to write. please help me.

  17. I did the following courses at the undergraduate level:
    Financial Accounting, Cost and Management Accounting, Auditing, Taxation, Public Sector Accounting, Investment and Financial Management.
    I want to know whether I will be exempted from those courses or still force to write. please help me.

  18. Fanks buh pls is it necessary to do the degree after ca part 3, and will i be given exemptions for the degree

    ?

  19. Fanks buh pls is it necessary to do the degree after ca part 3, and will i be given exemptions for the degree

    ?

  20. Fanks buh pls is it necessary to do the degree after ca part 3, and will i be given exemptions for the degree

    ?

  21. Fanks buh pls is it necessary to do the degree after ca part 3, and will i be given exemptions for the degree

    ?

  22. Please with completing all the levels in ica can u offer masters programme in Business Administration in any of the ghana universities without having first degree. Please I need more details bcos am comfused.

  23. Please with completing all the levels in ica can u offer masters programme in Business Administration in any of the ghana universities without having first degree. Please I need more details bcos am comfused.

  24. Pls am nt near Accra so I want know how I can easy get access to ica tuitions and with the ica text books does the registration include it or it suppose to by it personal.

  25. Pls am nt near Accra so I want know how I can easy get access to ica tuitions and with the ica text books does the registration include it or it suppose to by it personal.

  26. please when I pass the ica part one will I need to go to level 100 in the university to offer business administration

  27. please when I pass the ica part one will I need to go to level 100 in the university to offer business administration

  28. ohkk I want to write the part one when I’m done and I will go to the university…but will I start from level 100

  29. ohkk I want to write the part one when I’m done and I will go to the university…but will I start from level 100

  30. i have a degree in accounting which comes with exemptions if i apply icag but can i choose what should be exempted. pls need some help with dis

  31. i have a degree in accounting which comes with exemptions if i apply icag but can i choose what should be exempted. pls need some help with dis

  32. Hi Sir,
    Am so grateful reading your materials.Your objective analysis of ICAG and ACCA
    programmes, examination guide and all.
    Thanks so much and more grease to your elbow.
    Regards,
    Gyasi K

  33. Hi Sir,
    Am so grateful reading your materials.Your objective analysis of ICAG and ACCA
    programmes, examination guide and all.
    Thanks so much and more grease to your elbow.
    Regards,
    Gyasi K

  34. Hi Sir,
    Am so grateful reading your materials.Your objective analysis of ICAG and ACCA
    programmes, examination guide and all.
    Thanks so much and more grease to your elbow.
    Regards,
    Gyasi K

  35. I hv registered for ICAG but will like to wait and write it later.can I go back to register when the time given MF expires?

  36. I hv registered for ICAG but will like to wait and write it later.can I go back to register when the time given MF expires?

  37. I hv registered for ICAG but will like to wait and write it later.can I go back to register when the time given MF expires?

    • If you’ve registered for a paper, you’ll have to re-register if you don’t write it. If you’re talking about registering as a student, then you have 10 years to complete the exams

  38. please i have gain admission to study publishing studies at knust…can also register for ICA ? i want to do it attach to the publishing…any advice for me ?

  39. please i have gain admission to study publishing studies at knust…can also register for ICA ? i want to do it attach to the publishing…any advice for me ?

  40. please i have gain admission to study publishing studies at knust…can also register for ICA ? i want to do it attach to the publishing…any advice for me ?

  41. That is a very insightful piece i read, am planning of registering for the ICAG this month but my worry is will i be allowed to write the November examinations?

  42. That is a very insightful piece i read, am planning of registering for the ICAG this month but my worry is will i be allowed to write the November examinations?

  43. I would want to register for icag what are the requirements. and I’m still pursuing my bachelor degree in accounting would I be given the chance? what would be the arrangement?

  44. I would want to register for icag what are the requirements. and I’m still pursuing my bachelor degree in accounting would I be given the chance? what would be the arrangement?

  45. I would want to register for icag what are the requirements. and I’m still pursuing my bachelor degree in accounting would I be given the chance? what would be the arrangement?

    • You can do. As a Chartered Management Accountant, you can work in all areas of the banking environment without limiting yourself to one area. CIMA would suit you especially in risk management, IT, accounting, strategy and finance.

  46. I’m a french and geography student in the university level 200 and have decided to take the ACCA examination in march. Do you think its a good idea and also which ACCA tuition provider would you suggest i join since id be starting from scratch with no business background but just elective math.

  47. Very insightful replies. I wrote ICA papers in part 2 but not convinced of my results. I really trusted my work. Can I opt for re-marking and how much will it cost me if that is possible?

  48. Hi J. Kuseh, thank you for the information, Please how can I get these books from Ghana Financial Reporting, Management Accounting, Public Sector Accounting, Corporate Strategy & Governance
    I live in Liberia

  49. As a BBA Accounting Graduate, which of these options is more feasible

    1) Acquire MBA in accounting so that i get exempted from part 2 of ICA

    2) or Write the part 2 and 3 afterwards i get an MBA

    Kindly assist me with your view

      • I will suggest you move directly to ICAG and not MBA. From experience I can say it is best to qualify before you do Masters.. MBA is not very much relevant to employers nowadays. Having a professional accountancy qualification such as ACCA, CIMA or ICA (Ghana) is very rewarding especially in the Public Institutions such as GRA, Controller, Bank of Ghana and SSNIT.

  50. Hi Mr Kuseh, I have HND in Marketing and l want to register for ICAG. Please need your advice
    will there be exemptions and how long will it take me to complete the course

  51. Please, does the tuition fees exclude the exams fee..If yes, then please how much is the exams fees

  52. Thank you Mr Jerome for such a wonderful insight. I really got what I was looking for through various answers given, Mr Jerome it means CA-Gh is equivalent to First Degree but not masters. Thx

  53. 1. Is it true that all 4 of part 3 papers are written at a sitting?
    2. Can I take only one paper during a particular sitting, say May?
    3. Is it true that it takes 3 years of experience after you’ve passed all the papers before you actually become CA?
    4. Lastly, will employers in Ghana pay me more if I have both ICAG and ACCA? ?

  54. AS FAR AS ICA GH. DEPENDS ON ACCA, IT MEANS THAT ACCA IS AHEAD. BCS ALL ACCOUNTING STANDARDS ARE APPROVED OUTSIDE GHANA HENCE WE COPY FROM OUTSIDE. SO HOW CAN WE SAY WE ARE EQUAL. JEROME

    • The IASB sets standards in consultation with all national accounting bodies, including ICAG. So it’s not like they are decided independently and imposed. Also, why do you say ICAG depends on ACCA. I know they have a partnership with ICAEW but I’m not aware of a partnership with ACCA. I stand to be corrected.

  55. Helo please am a marketing student in upsa but i like to enroll icag while indo my degree programme, wanted to know wether it’s advisable.

  56. Helo please am a marketing student in upsa but i like to enroll on icag while i do my degree programme, icag tuition is free in our university so wanted to know wether it’s advisable.

  57. how best can you qualify fast in terms of writing the four papers? would you adive to strategically take them in twos?

      • Very interesting piece!. Well, as far as I know, one with an ACCA qualification DOES NOT need to write ANY ICAG exams before before membership is granted. One needs to only apply. Again, in the past, ICAG lacked a lot of learning resources hence it was very difficult for students to write and pass their exams. Compared with ACCA, students had so many different kinds of study materials so students could make use of it and pass their exams. The story is not the same anymore. ICAG has improved over the years and serious students now can study with ease.

  58. Very good piece but i must add that ACCA will give you value for money. You can gain Bsc Applied Accounting
    & MSc in Applied Accounting from Oxford Brookes University or Msc Professional Accountancy from University of London. How much does it cost to complete a Masters Degree in Ghana? UPSA is charging GHc17,000.00 a year and you will have to complete it in 2 years, totaling GHc35,000.00 excluding other expenses. With ACCA, you do not have to complete all level 1 papers before writing level 2 papers. If you complete 2 papers at level 1, you can write the remaining papers and level 2 papers at an exams session but with ICAG you may write a single paper at level 1 several times before moving to level 2 papers. ACCA help you with all the resources you need to qualify, you just have to buy your study text and revision kit. ACCA is expensive because of the exchange rate but cumulatively, ICAG will cost you more. ACCA, you can get video tutorials for all papers.

  59. I dont know if u have to be a busines student or have to be readin a busines program brfore you can register for any of the 2.talkin of ACCA and ICAG .this is because i am science student and now readin statistics in the unversity and want to be clear on this i wish to register for any of the tow but am with the fear that they might to start the tution from the scratch because i know nothin at it stands now on the field on busines…..

        • Hi Jerome…I’m a CA final student n has first degree in Marketing…I want to find out if I can use Part 2 results n the first degree marketing to apply MBA in accounting. I want to combine masters n CA final.
          Thanks

  60. Jerome…I’m a CA final student n have first degree in Marketing…I want to find out if I can use qualified Part 2 results n the first degree marketing to apply MBA in accounting. I want to combine masters n CA final.
    Thanks.

  61. Hello Jerome….i have HND in science Laboratory Technology and also Bachelor of Technology in science Lab.Technology with options in Analytical chemistry.Question is, am i qualified to enrol as an ICAG student?
    is job readilly available after completion?

  62. Hi Jerome,
    In your experience would you say a masters degree is necessary if you’re already a CA?
    I learnt that there’s no point in getting ACCA in addition to CA when you don’t intend to work outside Ghana. But I want to know if for a career in accounting, just a degree and CA will be enough.

    • A degree and CA is very good qualification. But I will recommend getting a masters in addition as you climb the ladder. This is usually a requirement for higher roles.

  63. Hi,is it possible to partake in the exams without registering as a student?If yes,what is the requirement?

  64. is there a course one can study at the university to make it easy and understanding as you become a student of the ICAG

  65. Am reading Hospitality Management at U.C.C and i will like to do I.C.A.G but i did Elective Maths, Economics, Geography and History from S.H.S with no business background. Please can i apply for it.

  66. What additionally does it require an an ACMA to obtain concerning certification by ICAG to receive practising certificate for Auditing?

  67. Now UPSA students who are offering BSc Accounting are allowed to write only 5 Papers for ACCA. That is only if you are an accounting student and attend UPSA.

  68. Hi Jerome, Please do you know any ICA tuition provider in Accra,SPINTEX ROAD precisely. I’m really looking for one since I live and work around Spintex. I will really appreciate your assistance. thanks

  69. from your article you said ACCA students need to pay GHC 5200 to be registered for ICAG. ……what about we ICAG students do we also get the privilege of registering as ACCA studebts and how much will that be😊

  70. Very soon ACCA and CIMA members among others would not get direct entry into ICAG membership any more. They would need to sit and pass exams before they are giving ICAG membership.

  71. pls at 31 yrs without a prior accounting degree or background is it advisable to start icag ? lets assume am only able to complete in ten years . will not be too late to start a carrier all over?

  72. Sly it is never too late. I became a member of CIMA at age 35, so you can. I know some who qualified as a CA during their 50s, so it is never too late.

  73. Hello,
    I have been reading your post and its quite interesting. I have been going back and forth with a decision as to do ICA or ACCA.My issue is about the recognition.
    I have the intention of working abroad so the decision to pursue ACCA but cost is really a factor. I have resolved to pursue ICA because if I should wait, I might never start.
    I know you can apply for exemptions to ACCA with ICA,you only have to pay.
    This is another way out.
    Wish you the best

  74. ICAG should never be compared to ACCA under any terms. Will you compare ASAMOAH GYAN TO MESSI OR RONALDO?

  75. Hello Sir. What ICT skills are needed to boost your career after a successful completion of ICAG?

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