This MRA strengthens the excellent relationship between our two bodies and has already created a pathway for many qualified members of each association to become members of the other body and enjoy the benefits of both. These include increasing international recognition and improved professional mobility. The NASBA/AICPA International Qualifications Appraisal Board (IQAB) continues to develop Mutual Recognition Agreements (MRA) with the Institute of Chartered Accountants of England and Wales and the South African Institute of Chartered Accountants – but have not yet concluded final agreements. Negotiations are continuing due to differences between accounting training systems in the United Kingdom and South Africa, but the parties agree that the quality of auditors developed under the relevant programmes is essentially in line with the US CPA. With CAANZ in Australia and New Zealand, HKICPA in Hong Kong, SAICA in South Africa there are agreements on recognition of membership. If you are a qualified member of another professional accounting firm, you can join the ICAEW. We offer different ways to join, including mutual agreements, advanced credit agreements, common content agreements and our “Towards Membership” program. Their ACA qualifications are also recognised by EU member states. Therefore, you should be able to obtain accounting or auditable recognition in another Member State by passing an aptitude test. The 150-hour training requirement in the United States goes beyond the formal educational obligation that exists in the United Kingdom or South Africa. However, in these countries, professional programs and experience requirements are more important than what is required for licensing in the United States.
In addition, if the U.S. CPA issues an audit license to state-owned enterprises in both the United Kingdom and South Africa, a first affiliation with a professional organization is required and, once this is achieved, additional requirements must be met to become a registered accountant. IQAB continues to work on the agreements to ensure that the licensing requirements of the state`s boards are met, in accordance with the Uniform Control Authority Act. The AICPA Review Team and NASBA`s Education Assessment Services are working with IQAB on the development of these agreements. The ACCA and the Certified General Accountants Association of Canada (CGA-Canada) have entered into a Comprehensive Mutual Recognition Agreement (MRA). Initially signed in 2006, the contract was renewed in July 2011. In 2012, CGA Canada was part of CPA Canada. The MRA remains in effect in all provinces except Quebec.
– NASBA/AICPA IQAB – Mutual Recognition Agreement between Hong Kong and the United States