The Institute of Chartered Accountants of Nigeria (ICAN) has recorded a major breakthrough following its approval by the Institute of Internal Auditors (IIA Global) to participate in the Certified Internal Auditor (CIA) Challenge Exam pathway.

The approval makes ICAN the first Nigerian professional accounting body to receive formal recognition under the CIA Challenge framework, providing eligible members with a faster route to obtaining the globally recognised Certified Internal Auditor designation.

Under the arrangement, which takes effect from March 1, 2026, qualified ICAN members will be eligible to sit for the CIA Challenge Exam, an accelerated certification pathway specifically designed for experienced accounting professionals seeking international recognition in internal auditing.

The Certified Internal Auditor qualification is regarded as the world’s leading professional certification for internal auditors and is recognised across multinational corporations, financial institutions, regulatory agencies and public sector organisations worldwide.

In a statement signed by the Chief Executive Officer of IIA Nigeria, Don Umeha, the institute explained that candidates who successfully complete the Challenge Exam and satisfy other certification requirements will earn the same CIA designation awarded through the traditional three-part examination route.

According to IIA Global, the certification obtained through the Challenge Exam carries identical status, recognition and professional standing as that earned through the standard examination process.

The organisation described the development as a landmark achievement for Nigeria’s professional and accounting community, noting that it represents international recognition of the quality and standards of professional education offered in the country.

It added that the approval would strengthen national capacity in internal auditing, governance, risk management and corporate accountability while enhancing the global competitiveness and career mobility of Nigerian professionals.

IIA Nigeria further stated that the initiative is expected to benefit both public and private sector institutions through improved internal controls, stronger governance frameworks, enhanced risk oversight and greater institutional transparency.

The institute noted that Nigeria has now joined a select group of countries whose professional bodies enjoy recognition under the CIA Challenge Exam framework.

According to the organisation, the development reinforces Nigeria’s commitment to global best practices, accountability and institutional excellence while strengthening investor confidence and stakeholder trust.

Stakeholders across government, academia, financial institutions and the corporate sector were encouraged to support the initiative as part of broader efforts to improve governance standards and professional development in the country.

The institute added that detailed information on eligibility criteria, examination schedules and application procedures will be communicated through the appropriate professional channels.