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.

Current Agreements

IQAB has currently established MRAs with the following professional bodies:

  • Institute of Chartered Accountants in Australia
  • Canadian Institute of Chartered Accountants
  • Canada, Mexico, and United States Memorandum of Understanding
  • Chartered Accountants Ireland (formerly the Irish Institute of Chartered Accountants)
  • Instituto Mexican de Contadores Publicos
  • New Zealand Institute of Chartered Accountants
  • Hong Kong Institute of Certified Public Accountants

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 Recognition Agreement documents can be found in the Publications section.

USEFUL LINKS

Candidates & Professionals
Regulators
Mutual Recognition Agreements
Conferences
International Qualification Examination (IQEX)
International Administration of the CPA Exam
NASBA International Evaluation Services

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