State Board Report

September 2009

On August 12, the NASBA/AICPA International Qualifications Appraisal Board (IQAB) signed a Mutual Recognition Agreement with the New Zealand Institute of Chartered Accountants (NZICA). Signing on behalf of US IQAB was Chair William Treacy, executive director of the Texas State Board of Public Accountancy. Signing on behalf of the NZICA were Chair Linda Turner, FCA, and Terry McLaughlin, FCA, Chief Executive Officer, NZICA. Mr. Treacy addressed the audience on the success of substantial equivalency in the United States and how those initiatives could impact reciprocal applicants. He also explained how the concept of substantial equivalency is applied to the appraisal process in evaluating the education, examination, and experience, which are the benchmarks for US IQAB appraisals.

Following Mr. Treacy’s remarks, Tim Groser, Minister of Trade for New Zealand, who hosted the ceremony at the Parliament Building, discussed how New Zealand might in the future employ the concept of substantial equivalency in their trade negotiations with other countries. Also in attendance were a delegation from the U.S. Embassy, led by the Chargé d’Affaires David J. Keegan, past chairs of the New Zealand Institute, and other dignitaries.

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