AICPA, NASBA, CPA Canada and Mexico's IMCP extend recognition pact

Leaders of accounting professional organizations in the U.S., Canada and Mexico have signed a memorandum of understanding to extend a longstanding agreement easing cross-border practice for accountants.

The American Institute of CPAs, the National Association of State Bords of Accountancy, CPA Canada and Mexico's Instituto Mexicano de Contadores Públicos announced Tuesday the extension of the agreement through Dec. 31, 2028. The deal comes amid continuing trade tensions between the U.S., Canada and Mexico, with President Trump threatening not to extend the U.S.-Mexico-Canada Agreement that was reached in 2020 during his first term in office, replacing the North American Free Trade Agreement from 1993.

In the accounting profession, the process seems to be going more smoothly. The mutual recognition agreement among the AICPA, NASBA, CPA Canada and the IMCP was originally signed in 2017 and came into effect in January 2018. It creates a streamlined path for cross-border professionals to work internationally with fewer administrative hurdles. In general, CPAs in the U.S. and Canada, and CPCs in Mexico can obtain professional mobility to work across North America if they meet certain eligibility requirements and remain in good standing in their home jurisdictions.

"This agreement protects the cross-border practice of U.S. CPAs 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," said Jim Knafo, the AICPA's director of global alliances and CEO of the Global Accounting Alliance, in a statement Tuesday.

"This agreement reflects decades of collaboration among our organizations," said NASBA president and CEO Daniel Dustin in a statement. "It supports qualified professionals who want to practice across borders, while reinforcing the strong standards that define the CPA license. Just as important, it preserves the authority of state boards and our shared commitment to protecting the public."

More information about international mutual recognition agreements is located on NASBA's resource page on the topic. 

The NASBA/AICPA International Qualifications Appraisal Board has currently established mutual recognition agreements with the following professional bodies:

• South African Institute of Chartered Accountants;
• CPA Australia;
• Chartered Accountants Australia and New Zealand;
• CPA Canada;
• Chartered Accountants Ireland;
• Institute of Certified Public Accountants in Ireland (CPA Ireland);
• Instituto Mexicano de Contadores Publicos.