If you've recently started researching ICAN, you've probably met three different "ICAN syllabuses" online and none of them match. That's because the Institute moved to a revised 15-subject structure at the November 2025 diet, and a lot of content on the internet still describes the old one. This guide gives you the current 2026 syllabus — every subject at every level, what it covers, and how to study it.
A syllabus is only useful when something turns it into practice questions — which is exactly what ilymi does. The platform mirrors this structure: subject-by-subject quizzes with instant explanations, a flashcard deck for the definitions and standards, and a readiness score per subject so you always know what's left. Use this page as your map.
The revised ICAN syllabus, explained
Since the November 2025 diet, ICAN has examined 15 subjects across three levels: 4 at Foundation, 6 at Skills and 5 at Professional. ATSWA — the Institute's technician programme — remains a separate route with its own 12-subject structure. Each level must be cleared in order (exemptions aside) before you advance.
Foundation Level (4 subjects)
| Subject | Code | What it covers |
|---|---|---|
| Business Environment | BE | Business structures, organisations and stakeholders, ethics and corporate governance, micro and macro economics, globalisation and emerging technologies |
| Corporate and Business Law | CBL | Company law — incorporation, meetings, charges and winding up; contract, agency and sale of goods; insurance, negotiable instruments, cybercrime and dispute resolution |
| Financial Accounting | FA | Accounting concepts, frameworks and standards; double entry; books of prime entry, control accounts and error correction; financial statements; partnership accounts |
| Management Accounting | MA | Cost classification and behaviour; costing systems; CVP analysis and break-even; standard costing and variance analysis; decision making |
Foundation is where most ICAN candidates first hit the wall — not because the material is hard, but because it's the first time they face an exam where questions are the curriculum. These topics map one-to-one onto our Foundation question bank.
Skills Level (6 subjects)
| Subject | Code | What it covers |
|---|---|---|
| Audit, Assurance and Forensics | AAF | Risk assessment, internal control, ISA 315, audit evidence and forensics |
| Financial Management | FM | Cost of capital (WACC), capital structure and investment appraisal |
| Financial Reporting | FR | IFRS and IAS standards — property, plant and equipment (IAS 16), inventories (IAS 2), the conceptual framework |
| Performance Management | PM | Marginal costing, CVP analysis, transfer pricing and budgeting |
| Public Sector Accounting & Finance | PSAF | IPSAS, public sector cash flow statements and government accounting |
| Taxation | TAX | Companies Income Tax (CITA), allowable deductions and VAT |
Professional Level (5 subjects)
| Subject | Code | What it covers |
|---|---|---|
| Advanced Audit, Assurance and Forensics | AAAF | Quality management, group audits, audit evidence, materiality and going concern |
| Advanced Taxation | ATAX | Pioneer status, capital allowances, hydrocarbon tax and the Petroleum Industry Act |
| Case Study | CS | Strategic financial analysis, report writing, project evaluation and ESG |
| Strategic Business Reporting | SBR | Group financial statements, step acquisitions, revenue (IFRS 15) and ethics |
| Strategic Financial Management | SFM | Foreign exchange risk and parity theories, capital structure and asset beta |
The Professional papers demand application rather than recall — see our Professional-level blueprint for how to clear them in one sitting.
The topic weightings that matter most
ICAN publishes the weight of each topic within its paper, and those weights should run your study schedule — effort should follow marks, not enthusiasm. Across the three levels, the heaviest-weighted areas consistently look like this:
| Level | High-weight areas |
|---|---|
| Foundation | Company law and commercial law (CBL); financial statement preparation and error correction (FA); costing, CVP and variance analysis (MA); organisational structure, governance and economics (BE) |
| Skills | Audit risk and evidence (AAF); WACC and capital structure (FM); PPE and the conceptual framework (FR); marginal costing and transfer pricing (PM); CITA and allowable deductions (TAX) |
| Professional | Group accounts and step acquisitions (SBR); audit quality and going concern (AAAF); capital structure and FX risk (SFM); the Case Study's analysis-and-reporting papers |
Always confirm the current weightings in the official syllabus on icanig.org before you allocate your week — and if a topic is weighted at 30% or more, it deserves a proportionate share of your practice questions.
Exemptions can shrink your syllabus
If you hold a prior qualification — a degree in accounting, or papers from another professional body — you may be able to clear entire subjects without sitting them. Exemptions change your personal syllabus, so they change your study plan. Check what your qualification might exempt, and settle it before the diet: ICAN generally won't process an exemption and an exam registration at the same time.
How the exam day is structured
All three levels sit their papers on the same three days of the diet, in morning and afternoon sessions. Most papers run around three hours; the Professional Case Study is the longest at four hours. For the full picture of what exam day feels like, read what to expect on ICAN exam day.
How to study the 2026 syllabus
- Print this page and mark the subjects you're sitting.
- Diagnose. Answer ten questions per subject and record your weak topics (free diagnostic).
- Learn in loops. Topic → questions → explanations → flashcards, every day.
- Mock. One full-length timed paper per week from the midpoint of your preparation.
For the step-by-step version of this process, our 90-day study plan is the closest thing to a free curriculum you'll find.
Frequently asked questions
How many subjects are in the ICAN syllabus?
Fifteen, across three levels: 4 Foundation, 6 Skills and 5 Professional. ATSWA is a separate 12-subject technician programme.
Is the ICAN syllabus changing in 2026?
The revised 15-subject syllabus has been in use since the November 2025 diet and remains current for 2026. Always confirm the syllabus year on icanig.org before you print anything.
What do the codes in the ICAN syllabus mean?
Each subject has a short code — BE, CBL, FA, MA, AAF, FM, FR, PM, PSAF, TAX, AAAF, ATAX, CS, SBR, SFM — used on the portal and by study tools like ilymi.
Which ICAN level is easiest?
Most candidates find Foundation the easiest because the papers reward recall, and Professional the hardest because they demand application. Neither is easy enough to pass without answering thousands of questions first.
You now have the map. Turn the 2026 syllabus into answered questions on ilymi — every subject, every topic, instant explanations, and a readiness score that tells you when you're actually ready.