AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
To verify an accountant, ask for their full name, membership body and membership number, then confirm it directly with that body: ICAN (the Institute of Chartered Accountants of Nigeria, set up by the ICAN Act of 1965) or ANAN (the Association of National Accountants of Nigeria, chartered in 1993). Both keep a membership register and can discipline members; membership shows qualification and accountability, not that the person is the right fit for your job.
The two professional bodies
Nigeria has two statutory bodies for professional accountants. Each sets exams, admits members, sets conduct rules and can discipline members who break them. Knowing which one an accountant belongs to tells you where to check and where to complain.
| ICAN | ANAN | |
|---|---|---|
| Full name | Institute of Chartered Accountants of Nigeria | Association of National Accountants of Nigeria |
| Legal basis | ICAN Act, Act No. 15 of 1 September 1965 | Formed 1979; chartered by decree in 1993 (ANAN Act 1993) |
| Designations | Chartered Accountant; Associate Accounting Technician | Certified National Accountant (CNA) |
| Register | Maintains a membership register | Investigates and disciplines members through an Investigative Panel and Disciplinary Tribunal |
| Quality checks | Quality assurance reviews | Quality assurance review system |
These details come from each body's profile on the International Federation of Accountants (IFAC) website, of which both are members. IFAC's ANAN profile also notes that the Financial Reporting Council of Nigeria (FRC) is the statutory standard setter and carries out inspections of audits of public interest entities, so larger companies' auditors face a further layer of oversight.
How to confirm membership
- Ask the accountant for their full name as registered, the body they belong to, their membership grade and their membership number. A real member will give these without fuss.
- Find the body's contact details yourself, from its own website or its IFAC profile, rather than from the accountant's letterhead. IFAC lists info@anan.org.ng as ANAN's contact email.
- Write to the body with the name and number and ask it to confirm current membership and good standing. Ask whether the member is entitled to practise in public, if you need audit or tax work signed off.
- If the body has a public member search on its own website, use it as well, but compare the name exactly; common Nigerian names repeat.
What the letters after a name tell you
Membership designations signal that someone passed the body's exams and was admitted. ICAN's profile names the Chartered Accountant designation; ANAN's names the Certified National Accountant (CNA). You will often see these as letters after a name on a letterhead or LinkedIn profile. Letters on a letterhead are easy to copy, which is why the check with the institute matters more than the letterhead itself.
Membership does not tell you everything. It does not prove the person has experience in your sector, that they are covered by professional indemnity insurance, or that the firm named on their card is registered. For those, ask directly:
- Is the firm registered with the Corporate Affairs Commission? You can check this yourself; see how to verify a Nigerian company.
- Do they hold the practising status their body requires for public practice, audit or tax representation?
- Have they done this kind of work before, for a business of your size?
- Will they sign an engagement letter setting out the scope, fee and deadline?
When an accountant is not a member
Plenty of bookkeepers do useful work without belonging to either body. The issue is not membership as such but honesty: someone who claims to be "ICAN" or "chartered" when they are not is misrepresenting themselves, and that is a reason not to hand them your books. If a membership claim turns out to be false, you can report it to the body whose name was used. If a real member has acted improperly, both bodies have disciplinary processes; ANAN's, per IFAC, runs through an Investigative Panel and a Disciplinary Tribunal.
Example: hiring for a year-end
Example only: a Lagos shop owner is choosing between two accountants to prepare year-end accounts. One gives a membership number and the institute confirms it in writing within a week. The other says "I am chartered" but cannot give a number. The first is the safer choice for any work that will be filed with tax authorities or shown to a bank, because the institute can be asked to step in if something goes wrong.
Accountants trained abroad
Some accountants working in Nigeria qualified with a foreign body, and some ICAN members also hold foreign memberships; the English institute ICAEW, for example, publishes a route for ICAN members to join it. A foreign qualification can be valuable, but the check works the same way: name the body, get the number, and confirm with that body directly. For work that will be filed with Nigerian tax authorities or regulators, ask whether the person also holds the Nigerian membership the work requires, because a foreign designation alone may not carry Nigerian practising rights.
Be wary of anyone who answers a simple membership question with a long story, or who sends a photo of a certificate in place of a number. A photographed certificate shows only that a document exists, not that the membership is still current; members can lapse, resign or be struck off.
What to check first
- Full name, body, grade and membership number, in writing.
- Confirmation of membership direct from ICAN or ANAN.
- The firm's CAC registration.
- A signed engagement letter with scope, fee and deadline.
- For an audit: ask whether the auditor is subject to FRC oversight.
Where Pryme fits
An accountant needs clean records. A Pryme Business Account includes a Finance agent that prepares reconciliations and reports for a person to approve, with actions recorded; see the Finance agent. Statements can be generated as verifiable documents through VerifyDoc.ai, so your accountant or a lender can check they are unaltered; see verifiable receipts and statements.
Questions people ask
How can I check if an accountant is a member of ICAN?
Ask for their full name and membership number, then ask ICAN directly to confirm membership and good standing. ICAN maintains a membership register under the ICAN Act 1965.
What is the difference between ICAN and ANAN?
Both are statutory bodies for accountants. ICAN was set up by the ICAN Act 1965 and awards the Chartered Accountant designation; ANAN was formed in 1979, chartered in 1993, and awards the Certified National Accountant (CNA) designation.
What does CNA mean after a name?
Certified National Accountant, the designation awarded by ANAN.
Where do I report a fake accountant in Nigeria?
Report a false membership claim to the body whose name was used. ANAN, for example, can be contacted at info@anan.org.ng per its IFAC profile.
Sources
- IFAC member profile: Institute of Chartered Accountants of Nigeria · accessed Oct 2026
- IFAC member profile: Association of National Accountants of Nigeria (updated Apr 2026) · accessed Oct 2026
- ICAEW: ICAN (Nigeria) members · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.