The U.S. International Qualifications Appraisal Board and the New Zealand Institute of Chartered Accountants have entered into a five-year mutual recognition agreement that establishes the basis for reciprocity between the U.S. and New Zealand accounting professions.
William Treacy, chair of the U.S. IQAB, and Linda Turner, president of the New Zealand Institute were the signatories on the agreement. The signing ceremony took place in Wellington, New Zealand.
The mutual recognition agreement with the Institute of Chartered Accountants in New Zealand is another important milestone in advancing international mobility for U.S. CPAs and New Zealand CAs, said Treacy in a statement. The U.S. IQAB is a joint body of the American Institute of CPAs and the National Association of State Boards of Accountancy.
Mutual recognition agreements facilitate cross-border mobility by streamlining the process for qualified professionals with accounting credentials to become certified and licensed in each others countries. Although approved by U.S. IQAB, the AICPA and NASBA, the agreements are still subject to state board acceptance. The agreement with the New Zealand Institute has been recommended to the boards of accountancy in all 55 U.S. jurisdictions for their adoption and implementation.
This is the sixth accountancy agreement that the U.S. IQAB has signed with non-U.S. organizations. The New Zealand Institute joins the list of professional bodies in Australia (two agreements), Canada, Ireland and Mexico, facilitating reciprocity with the assistance of U.S. IQAB. A copy of the mutual recognition agreement is available at www.nasba.org.
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