Accounting bodies from the US, Canada and Mexico have renewed a joint arrangement that allows professional accountants to practice across borders in all three countries.
The organisations signed a memorandum of understanding (MoU) extending the existing tripartite mutual recognition agreement (MRA) through to 31 December 2028.
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The MoU was signed by the US International Qualifications Appraisal Board, representing the American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy.
Mexico’s Instituto Mexicano de Contadores Públicos and Comité Mexicano para la Práctica Internacional de la Contaduría and CPA Canada are the other signatories.
AICPA global alliances director and Global Accounting Alliance CEO Jim Knafo said: “This agreement protects the cross-border practice of US CPAs [certified public accountants] and their counterparts in Canada and Mexico, and it ensures businesses across North America can tap the broadest range of qualified accounting professionals and specialists.”
The MRA is intended to simplify the process for accountants seeking to work in another signatory country by reducing procedural and administrative steps.
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By GlobalDataSubject to meeting specified eligibility conditions and maintaining good standing with their home body, CPAs in the US, Canada and Mexico, can obtain practice rights across North America under the agreement.
National Association of State Boards of Accountancy president and CEO Daniel Dustin said: “This agreement reflects decades of collaboration among our organisations.
“It supports qualified professionals who want to practice across borders, while reinforcing the strong standards that define the CPA licence.
“Just as important, it preserves the authority of state boards and our shared commitment to protecting the public.”
