The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have renewed a Mutual Recognition Agreement (MRA) with the Chartered Accountants of Australia and New Zealand (CA ANZ).
Under the MRA renewal, qualified US CPAs are eligible to obtain the CA ANZ credential and CA ANZ credential holders are eligible to obtain the US CPA credential if the holder meets eligibility requirements of the MRA.
The International Qualifications Appraisal Board (IQAB) had separate MRAs with both the Institute of Chartered Accountants in Australia and the New Zeal and the Institute of Chartered Accountants. In 2014, the two bodies merged to establish the Chartered Accountants of Australia and New Zealand (CA ANZ).
AICPA president and CEO Barry Melancon said: “I want to thank our colleagues in Australia and New Zealand, as well as NASBA and the state boards it represents, for their support of this cross-border commitment to accounting excellence. We are pleased to renew our support of this reciprocal agreement with CA ANZ, which provides a streamlined process for U.S. CPAs to practice in Australia and New Zealand.”
NASBA president and CEO Ken Bishop said: “In an increasingly global economy, implementing practical and intuitive processes for reciprocal practice privileges for qualified accountants is the right course of action. This agreement builds on the original agreement and embodies our continued effort to improve fairness and balance of requirements between our countries. I am appreciative of our friends in CA ANZ and the AICPA for bringing this agreement to fruition.”