CAI mutual recognition agreements USA, Canada, Australia

Zemmirz

Hello

I am hoping to get to some solid advise about the details of the mutual recognition agreements that the CAI has with the USA, Canada and Australia, particularly the educational requirements, if any, and if these are satisfied/fulfilled by the training contract itself or if I need a degree and masters outside of chartered accountancy?
The reason I ask is because I am currently doing the accounting technician course with ATI with a view of going into a training contract shortly afterwards and having options to move abroad with relative ease afterwards. I would have to reconsider this plan if I needed separate educational requirements.
I also have an honours degree in a non business(design) field.

Thanks
Timmirz

Nika Bolokov

For English speaking countries the CAI has mutual recognition treaties with the ACA equivalent in Australia and Canada. Both countries seem to have companies who are more than happy to hire Irish ACA's.

However the US can be different, although there is a treaty in place, as unless you are recruited in Ireland to go over there it can be a little harder to get work. The U.S. CPA designation seems to reign supreme over there.

Zemmirz

Thanks Nika Bolokov, but do you know if there are seperate university qualifications necessary or is the chartered accountant qualification sufficient?

Zemmirz

I found this if anyone wants to have a look http://www.nasba.org/files/2011/03/MRA_MOU_CA_Ireland_2010.pdf

Zemmirz

I was told this by someone. You might find it interesting if your looking at this post.

"You have to sit the US CPA exam. In order to do that you have to satisfy the educational requirements of the state in which you wish to sit it. Every state is different but in California you can just sit the exam with no educational requirements at all.
The Colorado State Board of Accountancy allows you to sit it if you are an Irish ACA.
Other states its way more complicated."

Zemmirz

I received these replies from CAI regarding for those interested in this post.

"Yes, you will be able to avail of the agreements when you qualify as an ACA. The educational requirements will all be fulfilled by your training with us. However if you wished to practice in the different companies (ie. sign off accounts etc) then you would need to sit local law and tax exams. However, just to work as an accountant in a company is fine, everything is covered.

And this
"No you don't - firstly the Chartered Accountancy Qualification is above a masters at Hetac Level 9. Therefore you don't need to do a Masters afterwards.
To avail of the American CPA (the equivalent to Chartered Accountant) you can just apply directly without having to take on any additional studies. I have attached the T&Cs for further reading."

Access to membership of Chartered Accountants Ireland

via

Reciprocity Agreement

Chartered Accountants Ireland has entered into a number of Mutual Reciprocity Agreements (MRA) which provides access to membership to Chartered Accountants Ireland.

Who is eligible to avail of these agreements?

Any person who is fully qualified member of the following professional accountancy bodies:
• American Institute of Certified Public Accountants
• Canadian Institute of Chartered Accountants
• Hong Kong Institute of Certified Public Accountants
• Institute of Chartered Accountants in Australia
• Institute of Chartered Accountants in Zimbabwe
• New Zealand Institute of Chartered Accountants
• South African Institute of Chartered Accountants

Are there any conditions which have to be met to be eligible to avail of the agreements?

Any member of the Institutes listed above who wishes to avail of the MRA is required to provide evidence that they are a member in good standing of the body in question and to pay the appropriate fee.

To remain a member of Chartered Accountants Ireland you must remain a member of your “Original” Institute.

* "Original" in this case is taken to mean the Institute with which you originally qualified

Are there any members to who the agreement does not apply?

Normally access to the Chartered Accountants Ireland is not applicable to:
• Members of the other institute who gained membership by reciprocity agreement rather than by examination;
• Graduates of the listed bodies who have passed the examinations but have not yet been admitted due to the non completion of the experience requirement.

Is there an examination required to gain admission to Membership under MRA?
With the exception of the AICPA and CICA any member of the above listed institutes is eligible to be admitted to CAI without the completion of any examinations where they are not practicing accountants. The historic requirement to pass an examination in Irish tax and law is no longer required. Any competency required in these areas can be met via appropriate CPD courses.

All AICPA and CICA members must complete the required examination in Irish tax and law.

​Please see overleaf
What about those who wish to obtain practicing certificates?

A person who becomes a member of CAI under the reciprocity agreement and who subsequently wishes to enter into public practice must first obtain a Practising Certificate from CAI. To be eligible for the award of a Practising Certificate a member must first pass the CAI tax and law examinations. (There are additional requirements to practice as an auditor- see below).

To be eligible for a practicing certificate one must have worked in practice for a minimum of two years post admission to membership in accordance with the experience requirements within the CAI practicing certificate regulations. Any shortfall in experience post admission to membership can be completed in Ireland in accordance with the CAI practicing certificate regulations.

What about anyone who wishes to practice as an auditor?

Where an applicant wishes to practice as an auditor in Ireland he/she must hold an auditing certificate. The requirements are governed by the Companies Act and the CAI auditing certificate regulations.

In addition to passing the required examination in Irish tax and law, he/she would be required to fulfil the following conditions:

• Be admitted to membership following the completion of the appropriate examinations;
• Obtain the requisite experience in auditing as outlined in the CAI auditing certificate regulations. This requires the completion of 46 weeks of audit experience and two years experience post admission to membership.