The NASBA/AICPA International Qualifications Appraisal Board (IQAB) is the link between the U.S. accounting profession and that of other States Parties to the General Convention on Trade in Services (GATS). A Mutual Recognition Agreement (MRA) allows qualified professional examiners from another country to operate in the United States without having to re-tender. Similar recognition is given to U.S. CPAs who wish to practice in the same country. Mr. Olivier said that the promotion of members` interests and a positive contribution to the development of the accounting profession in Africa were at the heart of the MRA, as it provided a framework for mutual cooperation between the two organizations. Any professional accounting organization wishing to enter into a mutual agreement with u.-IQAB must submit a letter of intent to nASBA. The letter should contain a brief written description of the nature and objectives of the organization, the extent of its membership and its interest in applying for an MRA. If the organization is not entitled to grant exercise qualifications, including supervisory rights, it must demonstrate that it can facilitate the receipt of these qualifications for U.S. CPAs by the receiving authority. These agreements ensure that the South African charter qualification chartered CA (SA) is considered in the same light as a local qualification when a SAICA member wishes to work in a different jurisdiction.
SAICA has already concluded reciprocity agreements with institutions in England and Wales, Australia and New Zealand, Canada, Hong Kong, Ireland, Scotland, Namibia, Zimbabwe, Kenya and India. In accordance with the terms of the agreement, the pact will facilitate mutual recognition of the name SSouth African CA (SA) and the US license CPA. It will also increase the mobility of professionals to facilitate the growth of the profession in the United States and South Africa. As the accountant and CPAs continue to grow globally and harness technological innovations, we need to help the profession find ways to expand its scope of practice, knowledge and mobility,” AICPA President and CEO Barry Melancon said in a statement Thursday. “This mutual recognition agreement achieves this goal.” JOHANNESBURG – The South African Institute of Chartered Accountants (SAICA) said on Monday that it had included the Eswatini Accounts Institute (EIA) in the growing list of global organizations with which it has mutual recognition agreements (MRA).