Professional bodies representing the accounting profession in the United States, Canada and Mexico have signed a memorandum of understanding to extend their longstanding agreement to ease cross-border practice.
An extension of the tripartite Mutual Recognition Agreement (MRA) was signed last month by officials of the U.S. International Qualifications Appraisal Board (representing the American Institute of CPAs and National Association of State Boards of Accountancy), CPA Canada, and Mexico’s Instituto Mexicano de Contadores Públicos (IMCP) and Comité Mexicano para la Práctica Internacional de la Contaduría (CMPIC). The agreement extends the existing MRA through Dec. 31, 2028.
“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 lobal alliances and CEO of the Global Accounting Alliance.
“This agreement reflects decades of collaboration among our organizations,” said NASBA President and CEO Daniel J. Dustin, CPA. “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.”
The Mutual Recognition Agreement creates a streamlined path for cross-border professionals to work internationally with fewer administrative hurdles. In general, CPAs in the United States 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.
More information about international mutual recognition agreements can be found on NASBA’s resource page on the topic.
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Tags: AICPA, Canada, compact, credentials, cross border, firm mangement, Mexico, profession, usa
