What is a Mutual Recognition Agreement?
The NASBA/AICPA International Qualifications Appraisal Board (IQAB) is the link between the U.S. accounting profession and that of other General Agreement on Trade in Services (GATS) signatory countries. Through a mutual recognition agreement (MRA), qualified professional accountants from another country can practice in the United States without having to completely re-credential. Similar recognition is given to U.S. CPAs who wish to practice in that same country.
IQAB has currently established MRAs with the following professional bodies:
Institute of Chartered Accountants in Australia
Any professional accountancy body wishing to enter a reciprocal agreement with U.S.-IQAB must submit a letter of intent to NASBA. The letter should contain a brief, written description of the nature and objections of the organization, the size of its membership and its interest in applying for an MRA. If the organization does not have the authority to grant practice privileges including audit rights, it must provide evidence it can facilitate obtaining these privileges for U.S. CPAs from the licensing authority.
Mutual Agreement Process
Professional bodies from countries that have signed on to GATS and that have qualifications that are substantially equivalent to those of the U.S. CPA in the areas of education, examination and experience (as stated in the Uniform Accountancy Act) are invited to apply for an MRA by contacting Louise Haberman at firstname.lastname@example.org .
Upon approval of an MRA by the Boards of Directors of NASBA and the AICPA, it will be distributed to all 55 State Boards of Accountancy that license CPAs in the United States, with the recommendation that they each adopt the agreement.
Candidates & Professionals
MUTUAL RECOGNITION AGREEMENT DOCUMENTS
Australia and United States Mutual Recognition Agreement
- MEMBER CENTER