Dublin (Aug. 17, 2004) -- The Institute of Chartered Accountants in Ireland has negotiated a mutual recognition agreement with the American Institute of CPAs and the National Association of State Boards of Accountancy.

Upon signing of the agreement, the ICAI will be the only accountancy body based in Ireland whose qualification is fully recognized in the U.S., giving its members reciprocal employment status in both practice and industry.

The agreement will be subject to a vote by ICAI members later in the year.

NASBA and the AICPA jointly established the International Qualifications Appraisal Board to liaise with the ICAI to ensure ongoing reciprocity between the Chartered Accountancy qualification and the U.S. CPA qualification. Both bodies have satisfied themselves that the CPA and CA qualifications are comparable in terms of the required body of knowledge and required standards of professional practice, paving the way for the mutual recognition agreement.

-- WebCPA staff

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