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Hkicpa Acca Mutual Agreement

Prior to 2002, Hong Kong accountants were allowed to become full members of the Association of Chartered Certified Accountants (ACCA) and HKICPA as part of a joint audit system between the two institutions. A mutual recognition agreement was then promulgated between the two institutions; [1] This has been extended from 2010 to 2015. [2] These agreements generally apply only to relatively young HKICPA members who have qualified through the qualification program. 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. As a member of the Hong Kong Institute of Certified Public Accountants (HKICPA) who has joined the HKICPA Qualification Programme (QP), you can join ICAEW through our mutual membership without having to pass further exams. Depending on the year in which you joined HKICPA, you can get a preferential price. The new MRA (formerly known as the Recognition Agreement) came into force on 1 July 2005 and has been extended several times until 30 June 2025. Under the new MRA, the ACCA fully recognizes the Institute`s PQ and qualified members of the Hong Kong Institute of CPAs PQ are therefore entitled to become members of the ACCA without additional conditions.

On the other hand, the institute does not fully recognize the ACCA`s professional examination, so ACCA members can only be partially exempted from the institute`s examination requirement and must meet certain conditions to qualify to become members of the Hong Kong Institute of CPAs under the new MRA. 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. There is no mutual recognition between the ACCA and the American Institute of Certified Public Accountants (AICPA) /National Association of State Boards of Accountancy (NASBA). Processing times may vary depending on the volume. The Canadian CPA profession and the Association of Chartered Certified Accountants (ACCA) are currently negotiating a new agreement defining how the professionals involved can obtain the designation of the other profession.

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