Nashville, TN, New York, NY and Dublin, Ireland (June 1, 2022) –The National Association of State Boards of Accountancy (NASBA)/American Institute of CPAs (AICPA), U.S. International Qualifications Appraisal Board (IQAB) and CPA Ireland signed a mutual recognition agreement (MRA) yesterday that goes into effect today.The MRA will provide an abbreviated qualification pathway for eligible accounting professionals in the U.S. and Ireland to practice in the partner countries.
Under the agreement, qualified U.S. CPAs will be eligible to obtain the CPA Ireland credential, a pathway to obtaining audit rights in Ireland, if the holders meet eligibility requirements detailed in the appendices of the MRA. Similarly, CPA Ireland credential holders will be eligible to obtain the U.S. CPA credential if the holders meet the eligibility requirements outlined in the MRA’s appendices.
“I am pleased that after many years of discussions concerning a mutual recognition agreement with CPA Ireland, and in spite of challenges resulting from the COVID-19 pandemic, our teams effectively managed the process to solidify a meaningful agreement,” said Ken L. Bishop, President and CEO of NASBA.
Speaking on behalf of CPA Ireland, President Aine Collins stated “This agreement provides an exciting new opportunity to Irish CPAs, helping them to travel further and avail of new opportunities in the U.S. and is also a very strong endorsement of the CPA Ireland qualification. The U.S. and Ireland have a unique relationship based on historic cultural ties and now represented through a strong economic relationship. We are excited to be playing a part in enhancing this relationship by facilitating CPAs from both the U.S. and Ireland to form part of the next generation of that relationship.”
“Through this mutual recognition agreement, CPAs in the U.S. and Ireland now have a streamlined path to practice in each other’s countries,” said AICPA President and CEO Barry C. Melancon, CPA. “It is essential we continue to help the profession broaden its scope of practice, develop its international relationships and enhance its mobility. This is increasingly important in our global society, as companies and organizations continue to operate beyond borders and accounting firms expand their reach and networks worldwide.”
Leaders representing NASBA, AICPA and CPA Ireland met in New York to finalize the MRA.CPA Ireland credential holders will be able to apply for recognition in summer 2022. To apply, please CLICK HERE. To read more about the MRA between NASBA/AICPA U.S. IQAB and CPA Ireland, CLICK HERE.
Since 1908, the National Association of State Boards of Accountancy (NASBA) has served as a forum for the nation’s Boards of Accountancy, which administer the Uniform CPA Examination, license more than 650,000 certified public accountants and regulate the practice of public accountancy in the United States.
NASBA’s mission is to enhance the effectiveness and advance the common interests of the Boards of Accountancy in meeting their regulatory responsibilities. The Association promotes the exchange of information among accountancy boards, serving the needs of the 55 U.S. jurisdictions.
NASBA is headquartered in Nashville, TN, with an International Computer Testing and Call Center in Guam and operations in San Juan, PR. To learn more about NASBA, visit www.nasba.org.
About the American Institute of CPAs
The American Institute of CPAs® (AICPA®) is the world’s largest member association representing the CPA profession, with more than 421,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives continuing education to advance the vitality, relevance and quality of the profession.
About CPA Ireland
CPA Ireland is one of the main Irish accountancy bodies with 5,000 members and students. CPA Ireland members work in a variety of roles in public practice, the public sector, small to medium size businesses and multinational corporations. The role of the CPA Ireland is to regulate CPAs in accordance with the law and the Institute's Code of Ethics in the public interest; ensure that CPAs are constantly up to date in all matters relating to their professional work; maintain the highest levels of educational standards for new entrants to the profession and represent the interests of members where appropriate.
More information on CPA Ireland can be found at www.cpaireland.ie
Allison Carter Fanney, AICPA
Thomas Kenny, NASBA