 In the 1990s ICAN was dominated by members holding qualifications from the London-based Association of Chartered Certified Accountants (ACCA).Although the ICAN claimed complete independence of the ACCA, it was under attack for defending the status quo in accountancy practices and for suppressing changes to address local requirements.In August 2010 the Federal Government approved migration to International Financial Reporting Standards (IFRS) by 2012.