Mon, Aug 16, 2004
(Monday, 16 August 2004) The Institute of Chartered Accountants in Ireland (ICAI) has negotiated a Mutual Recognition Agreement with the American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA).
Upon signing of the agreement ICAI will be the only accountancy body based in Ireland whose qualification is fully recognized in the US, thus giving members reciprocal employment status in both practice and industry. The agreement will be subject to a vote by ICAI members later in the year.
The NASBA and AICPA jointly established the International Qualifications Appraisal Board (IQAB) to liaise with ICAI to ensure ongoing reciprocity between the Chartered Accountancy qualification and the US certified qualification. Both bodies have satisfied themselves that the CPA and CA qualification are comparable in terms of the required body of knowledge and required standards of professional practice, paving the way for a the Mutual Recognition Agreement.
Commenting on the negotiations, ICAI’s Chief Executive Brian Walsh said:
“ICAI is delighted to be the first Irish qualification to secure a Mutual Recognition Agreement with the AICPA and the NASBA, which will entitle our members to reciprocal employment status with our American counterparts in the US. ICAI has already agreed a MRA with the Canadian Institute of Chartered Accountants. The Institute will continue to foster links with suitable international bodies and accountancy qualifications, so as to bring maximum flexibility and opportunity to our members in an ever increasing global marketplace”.
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Reference: Faye Cousins, ICAI Marketing Executive, 01 6377238