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State Board Report

August 2014

A summit of leaders from the Instituto Mexicano de Contadores Públicos, American Institute of Certified Public Accountants, CPA Canada and NASBA met in Mexico City on July 21-23, 2014 to discuss the progress of the mutual recognition agreement signed by them all in April 2008. Since that time few Mexican Contadores Públicos Certificados (CPCs) have taken the IQEX and even fewer U.S. CPAs
have taken the MEXQEX, the first step toward obtaining mutual recognition.

It was agreed that more publicizing of the agreement will be done by all parties. As part of this effort, the AICPA has contacted the Association of Latino Professionals in Finance and Accounting (ALPFA), the U.S.’s largest Latino professional organization, and they have agreed to help increase awareness of the MRA.

All parties have signed a memorandum of understanding extending the Mexican/Canadian/U.S. agreement until December 31, 2016, to allow time for the evaluation of CPA Canada’s new education program. The program will be in support of the unification of the Canadian accounting profession under the Chartered Professional Accountant (CPA).

The MRA forged with IQAB and the IMCP was originally signed by the Canadian Institute of Chartered Accountants (CICA), but that has now evolved into CPA Canada bringing CICA together with CMA Canada and CGA-Canada. CPA Canada President and CEO Kevin Dancey assured the Mexican summit attendees that the CPA Canada education program will be ready for review in advance of the 2016 deadline.

NASBA President Ken L. Bishop briefly described the mobility program being considered for pilot testing between the state of Washington and the Canadian province of British Columbia.

Mr. Dancey reported some countries are moving away from mutual recognition agreements to mutual membership agreements. While this may work well in other countries which require membership in a professional association for licensure as a public accountant, it was pointed out that no such requirement exists in the United States.

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