State Board Report

January 2012

Acting upon the recommendation of the NASBA/AICPA International Qualifications Appraisal Board (IQAB), the Board of Examiners has approved the revision of the International Qualifications Examination (IQEX) with the Regulation Section (REG) of the Uniform CPA Examination beginning in November 2012. IQEX is administered to non-U.S. professionals who hold a certification covered by a mutual recognition agreement with the State Boards and AICPA. It tests knowledge and understanding of U.S. professional ethics, professional and legal responsibilities, and business law and taxation.

IQEX has been administered only during one month of the year, but with the adaptation to REG, qualified candidates will be able to take the examination during the second month of each quarter of the year at all the Prometric testing centers where the IQEX is currently offered, which includes sites in Canada. The application for the new IQEX examination (the REG) will remain the same as the present application process. Candidates will still need to meet the requirements set down in the mutual recognition agreements.

“This move to a quality examination that will be available throughout the year at relatively convenient locations is something IQAB has been advocating for years,” IQAB Chair William Treacy said. “We hope our MRA partners will take similar steps to facilitate the practice of U.S. CPAs abroad.”

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