Culled from http://www.ican.org.ng
THE PLACE OF AAT IN THE ACCOUNTING PROFESSION
In line with its statutory responsibilities, the Institute conducts examinations for prospective members who, on qualifying as Chartered Accountants, occupy top-level positions in various sectors of the economy. Below this level are the HND and B.Sc (Accounting) graduates who are not professionals. Thus, between the Chartered Accountants and their unsophisticated and diverse clients, there existed a vacuum that needed to be filled. This vacuum could only be filled by Accounting Technicians who are trained to understand and interpret the language of the professionals to the clients. Similarly, many career civil servants who worked in Finance related positions and did not have the requisite qualifications to enable them advance progressively on the job or eventually become Chartered Accountants could not be promoted. Thus, there was the dire need to provide middle level accounting certificate for these categories of personnel both in the public and private sectors of the economy.
The Scheme also provides opportunities for the graduands to attain the peak of the profession by aspiring and qualifying as Chartered Accountants. For this class of Nigerians, the programme holds out a dual advantage. While they have opportunity to progressively advance on the rungs of the ladder of their careers, the graduates of the scheme are additionally eligible to register as students for the Professional Examinations and thereafter claim exemptions from the Foundation, Intermediate and Business Law in P.E I levels.
To attain the above objectives, the graduates of the scheme need to be adequately equipped with intellectual abilities and practical skills that would enable them function effectively within the economy and if they wish, pursue further academic and professional qualifications.
ADVANTAGES OF AAT
* Holders of the Association of Accounting Technicians qualification can use their certificate to proceed to the ICAN Professional qualifying examinations scheme and
eventually qualify as full-fledged Chartered Accountants.
· The AAT certificate can also be used to secure admission into a University to study B.Sc Accounting, Banking & Finance, Economics, Taxation, Business Administration, etc. Many Nigerian Universities equate AAT Certificate with ND (Accounting) Upper Credit and, so, admit holders into 200 level of a relevant degree programme. This is particularly crucial because these days, importance is University attached to degrees by employers of labour in the Nigerian and global economy.
* An AAT certificate holder can work in both the private and public sectors of any economy in the world. The certificate indicates competence, integrity and ability to take on responsibility of an accounting nature. The duties that might be assigned vary from organization to organization. They range from more routine to technical works. In the commercial and industrial sectors, holders of AAT certificate should be able to earn rapid promotion to middle level management particularly with dedication and hard work
· Holders of the AAT certificates are very good Audit clerks – checking records and conducting bank reconciliations. He/She may be an invoice clerk checking invoices and arranging payments. Be required to prepare data for computer system or to prepare accounts and statements of cash flow. Be required to prepare or check PAYE, VAT and other tax returns. May also be involved in more technical aspects of auditing, preparation of financial statements and budgeting. Be used as supervisors in some organizations – planning and monitoring the work of other junior staff. These are just some of the opportunities open to holders of AAT Certificates.