NASBA offers the International Qualification Examination (IQEX) to qualifying candidates each year. Internationally trained accountants seeking a reciprocal CPA designation in the United States may be interested in writing the IQEX.
IQEX is used to examine the professional competence, from a United States perspective, of accountants from foreign bodies, determined by the U.S. International Qualifications Appraisal Board to have education, examination and experience requirements substantially equivalent to United States CPAs. The IQEX tests reciprocity applicants on their knowledge of U.S. professional standards, U.S. taxation and business law.
> Australia – CA
> New Zealand
If your professional credential institute is not listed and you want to be licensed as a CPA in the U.S., you will need to take the Uniform CPA Examination as a candidate of one of the 55 jurisdictions.
Interesting question! Unfortunately this is outside of anything I have come across in my understanding of how accounting qualifications are recognised around the world. I do know that CPA is well respected in Asia so you would hope with the number of American organisations in Hong Kong, Singapore and Mainland China that accountants with CPA will be transferable to the American domestic market but I just don't know.
I would call CPA Australia as a first point of call. If you do find this answer out I would really like to know, as it will help me guide other grads in the future.
"The Mutual Recognition Agreement between the U.S. International Qualifications Appraisal Board and CPA Australia has expired effective December 5, 2010 and is not being considered for renewal. Members of CPA Australia interested in becoming licensed as a CPA in the U.S. must complete the Uniform CPA Examination."
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.
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
Irish Institute of Chartered Accountants
Instituto Mexican de Contadores Publicos
New Zealand Institute of Chartered Accountants
Also last year, in the CPAA website, the American Institute of Certified Public Accountants (AICPA) was included in the list of international affiliations.
3 years, 2 months ago
3 years, 2 months ago
by the original author)
A representative from CPA Australia confirmed to me personally that there is no affiliation between CPA Australia and the American Institute of Certified Public Accountants (AICPA) at this time.
Apparently from my research, the Institute of Chartered Accountants in Australia (ICAA) is the only Australian accounting body with an alliance with the AICPA, and the CA is the only Australian qualification to get exemption from the US Uniform CPA Examinations and eligible to take the IQEX instead. http://www.nasba.org/international/iqex/
I am confused now. Does it mean the U.S. CPA bodies no longer consider Australian CPA's to have the required education, examination and experience qualifications? How could this happen!