What is IQEX?*

IQEX is the acronym for the International Uniform Certified Public Accountant Qualification Examination. The purpose of the IQEX is to facilitate U.S. licensure for accountants from other countries who are members of professional organizations that have agreed to reciprocity with U.S. jurisdictions. These reciprocity agreements have been developed through the efforts of the United States International Qualifications Appraisal Board which was established jointly by the American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA). Currently, members of three organizations are qualified to take the IQEX: Canadian Chartered Accountants, Australian Chartered Accountants, and Australian Certified Practicing Accountants.

The IQEX is administered under the auspices of NASBA’s CPA Examination Services, which processes IQEX applications, determines candidate eligibility, oversees the conduct of the examination, and reports IQEX grades to the candidates and boards of accountancy in 54 U.S. jurisdictions.

The IQEX tests the candidate’s knowledge of U.S. generally accepted accounting principles, generally accepted auditing standards, taxation, and business law. Since the objective of the IQEX is to assess a candidate’s knowledge in subjects in which there are differences between U.S. and foreign accountancy principles, most IQEX topics are in major areas of dissimilarity, such as professional and legal responsibilities, business law, and taxation. Unlike the Uniform CPA Examination, there is only one IQEX grade for the entire examination.

After passing the IQEX, candidates must apply for the CPA license with a state board of accountancy in a jurisdiction that recognizes the IQEX. Washington is one of those jurisdictions. The Board currently extends international reciprocity to Chartered Accountants (CAs) of Australia and the following Canadian Provinces: British Columbia, New Brunswick, Alberta, Manitoba, and Ontario. Other Canadian provinces’ CAs and will qualify as their provincial institutes remove residency requirements for CPA reciprocity into Canada. Likewise Australian Certified Practicing Accountants will qualify when CPA Australia removes residency requirements for CPA reciprocity into Australia.

Additional information regarding the IQEX is available on NASBA’s web site at www.nasba.org.