Nashville, TN, New York, NY and Dublin, Ireland (June 1, 2022) –The National Association of State Boards of Accountancy (NASBA)/American Institute of CPAs (AICPA), U.S. International Qualifications Appraisal Board (IQAB) and CPA Ireland signed a mutual recognition agreement (MRA) yesterday that goes into effect today. The MRA will provide an abbreviated qualification pathway for eligible accounting professionals in the U.S. and Ireland to practice in the partner countries.
Under the agreement, 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 eligibility 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 L. Bishop, President and CEO of 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. The U.S. and Ireland have a unique relationship based on historic cultural ties and now represented through a strong economic relationship. We are excited to be playing a part in enhancing this relationship by facilitating CPAs from both the U.S. and Ireland to form part of the next generation of that relationship.”
“Through this mutual recognition agreement, CPAs in the U.S. and Ireland now have a streamlined path to practice in each other’s countries,” said AICPA President and CEO Barry C. Melancon, CPA. “It is essential we continue to help the profession broaden its scope of practice, develop its international relationships and enhance its mobility. This is increasingly important in our global society, as companies and organizations continue to operate beyond borders and accounting firms expand their reach and networks worldwide.”
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.
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