Accounting
AICPA and NASBA Renew Mutual Recognition Agreement with Australia and New Zealand
The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have renewed a Mutual Recognition Agreement (MRA) with the Chartered Accountants of Australia and New Zealand (CA ANZ).
Dec. 07, 2018
The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have renewed a Mutual Recognition Agreement (MRA) with the Chartered Accountants of Australia and New Zealand (CA ANZ).
The International Qualifications Appraisal Board (IQAB) had separate MRAs with both the Institute of Chartered Accountants in Australia and the New Zealand Institute of Chartered Accountants. In 2014, the two bodies merged to establish the Chartered Accountants of Australia and New Zealand (CA ANZ).
In addition to the renewal of this MRA with CA ANZ, an MRA with CPA Australia was signed in July 2018, providing qualified applicants with two pathways to licensure in Australia and New Zealand.
Under this MRA renewal, qualified U.S. CPAs are eligible to obtain the CA ANZ credential, that is a pathway to obtaining audit rights in Australia and New Zealand, if the holders meet eligibility requirements detailed in the appendices of the MRA. Similarly, CA ANZ credential holders (who are citizens or legal residents in Australia or New Zealand) are eligible to obtain the U.S. CPA credential if the holders meet the eligibility requirements outlined in the MRA’s appendices.
“I want to thank our colleagues in Australia and New Zealand, as well as NASBA and the state boards it represents, for their support of this cross-border commitment to accounting excellence” said AICPA President and CEO Barry C. Melancon, CPA, CGMA. “We are pleased to renew our support of this reciprocal agreement with CA ANZ, which provides a streamlined process for U.S. CPAs to practice in Australia and New Zealand.”
“In an increasingly global economy, implementing practical and intuitive processes for reciprocal practice privileges for qualified accountants is the right course of action,” said NASBA President and CEO Ken L. Bishop. “This agreement builds on the original agreement and embodies our continued effort to improve fairness and balance of requirements between our countries. I am appreciative of our friends in CA ANZ and the AICPA for bringing this agreement to fruition.”
During the five-year period of the agreement, IQAB is to work on developing alternative requirements that would expand access to CA ANZ credential holders who are neither citizens nor legal residents of New Zealand and Australia.
To read more about the MRA between NASBA/AICPA U.S. IQAB and CA ANZ visit