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Below are frequently asked questions about our Mutual Recognition Agreements (MRA) and the International Qualification Examination (IQEX). You can read our News and Updates page for additional background information.  
  What is a Mutual Recognition Agreement (MRA)?
Does the Arizona Board of Accountancy recognize MRAs?
What is IQEX?
How do MRAs and IQEX impact licensing in Arizona?
What if a foreign candidate is not an accountant/member with the foreign body?
 
   
 What is a Mutual Recognition Agreement (MRA)?  
  A Mutual Recognition Agreement (MRA) is an agreement adopted between the AICPA/NASBA International Qualification Appraisal Board (IQAB) and various countries for the purpose of recognizing equivalency in exam, education and experience. When a MRA is then adopted by the jurisdiction/state, it allows the jurisdiction/state to grant reciprocal licenses/certificates to accountants from other countries who meet specific equivalency standards. top
   
 Does the Arizona Board of Accountancy recognize MRAs?  
  On December 3, 2013, the Arizona Board of Accountancy adopted MRAs approved by IQAB with Australia, Canada, Mexico, Ireland, New Zealand and Hong Kong. top
   
 What is IQEX?  
  The International Qualification Examination (IQEX) is a test established by the International Qualification Appraisal Board (IQAB) to test a foreign candidate’s knowledge in U.S. tax and accounting business law and is an integral part of the IQAB qualifying process for foreign candidates. As of November, 2012, it became the Regulation (REG) portion of the AICPA Uniform CPA Examination. top
   
 How do MRAs and IQEX impact licensing in Arizona?  
  By adopting MRAs with other countries, and pursuant to A.R.S. § 32-721(D) and A.A.C. R4-1-341(A)(4), the Board recognizes that if an application is received from a candidate whose license is held in any country whose MRA has been adopted by Arizona, and that candidate can provide evidence of passing IQEX, the candidate can apply for a CPA certificate with the Board by substantial equivalency. top

   
 What if a foreign candidate is not an accountant/member with the foreign body?  
  A foreign professional who is not a member of a Mutual Recognition Agreement (MRA) partner body, but who has educational credentials evaluated to be substantially equivalent to those of a U.S. CPA, can still apply for a reciprocal license by taking and passing the U.S. Uniform CPA Exam. top