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NASBA/American Institute of CPAs (AICPA), U.S. International Qualifications Appraisal Board (IQAB) and CPA Ireland signed a mutual recognition agreement (MRA) on May 31, 2022, that went into effect on June 2, 2022. The MRA will provide an abbreviated qualification pathway for eligible accounting professionals in the U.S. and Ireland to practice in the partner countries. What does this mean for CPAs? Now, qualified U.S. CPAs will be eligible to obtain the CPA Ireland credential, a pathway to obtaining audit rights in Ireland, if the holders meet eligibility requirements detailed in the appendices of the MRA. Similarly, CPA Ireland credential holders will be eligible to obtain the U.S. CPA credential if the holders meet the requirements outlined in the MRA’s appendices. “I am pleased that after many years of discussions concerning a mutual recognition agreement with CPA Ireland, and in spite of challenges resulting from the COVID-19 pandemic, our teams effectively managed the process to solidify a meaningful agreement,” said Ken Bishop, President and CEO, NASBA. Speaking on behalf of CPA Ireland, President Aine Collins stated, “This agreement provides an exciting new opportunity to Irish CPAs, helping them to travel further and avail of new opportunities in the U.S. and is also a very strong endorsement of the CPA Ireland qualification.” Leaders representing NASBA, AICPA and CPA Ireland met in New York to finalize the MRA. CPA Ireland credential holders will be able to apply for recognition in summer 2022. |
