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State Board Report

April 2015

Over 7,000 members of the Association of Chartered Accountants in the United States are at work in this country. Approximately 2,600 call the Institute of Chartered Accountants of England and Wales their home institute, and 2,500 are members of the Chartered Professional Accountants of Canada, with the rest being members of other chartered bodies from countries affiliated with the United Kingdom. The NASBA/AICPA International Qualifications Appraisal Board has developed mutual recognition agreements with the Australian, Canadian, Irish and New Zealand bodies, which many states have adopted. However, IQAB has not completed MRAs with the ICAEW, the Institute of Chartered Accountants of Scotland and the South African Institute of Chartered Accountants.

"Recognition of our members is one of the top interests of our members," ACAUS President Mark Coles told their annual meeting on March 4. The association has recently developed an associates program opened to chartered accountants in India and Pakistan.

NASBA President Ken Bishop stated in his address to the ACAUS meeting that NASBA and the AICPA are studying the creation of a pathway that could allow non-U.S. professionals who have the ability to perform public audits in their home countries to have an expedited route to obtaining their CPA licenses from the State Boards. This would be based on the requirements those individuals have met, as determined by IQAB, not on whether mutual recognition would be granted to U.S. CPAs in other countries. President Bishop explained, "We believe by recognizing qualified professionals within the United States, we will be increasing public protection for our citizens."

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