Accounting bodies from the United States, Canada, and Mexico have officially renewed a joint reciprocal arrangement. This enables certified public accountants (CPAs) to practice across borders in all three North American nations with minimal friction.

The organizations signed a new Memorandum of Understanding (MoU) extending the existing tripartite Mutual Recognition Agreement (MRA) through to December 31, 2028. This extension safeguards professional mobility and provides critical support for businesses navigating cross-border commerce.

Facilitating Cross-Border Professional Practice

The MRA is designed to streamline administrative hurdles for qualified accountants seeking recognition in neighboring jurisdictions. By establishing a clear equivalence framework, it reduces procedural delays while maintaining strict professional standards.

Under the renewed pact, qualified CPAs can acquire practice rights within the other signatory countries, provided they meet specific eligibility conditions and maintain good standing with their respective home organization.

Joint Commitment from Leading Organizations

The memorandum represents a collaborative effort among several major regulatory and professional bodies across North America:

  • United States: The US International Qualifications Appraisal Board, representing the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA).
  • Canada: CPA Canada (Chartered Professional Accountants of Canada).
  • Mexico: Instituto Mexicano de Contadores Públicos (IMCP) and the Comité Mexicano para la Práctica Internacional de la Contaduría (COMPIC).

Executive Perspectives

"This agreement protects the cross-border practice of US CPAs and their counterparts in Canada and Mexico, and it ensures businesses across North America can tap the broadest range of qualified accounting professionals and specialists." — Jim Knafo, AICPA Global Alliances Director and Global Accounting Alliance CEO

Similarly, Daniel Dustin, President and CEO of the National Association of State Boards of Accountancy, emphasized the historical depth of this alliance:

"This agreement reflects decades of collaboration among our organizations. It supports qualified professionals who want to practice across borders, while reinforcing the strong standards that define the CPA license. Just as important, it preserves the authority of state boards and our shared commitment to protecting the public."

Strategic Outlook for North American Trade

As corporate operations become increasingly integrated across the US, Canada, and Mexico, this reciprocal agreement guarantees that businesses can access top-tier financial expertise seamlessly. By removing international practice barriers, it reinforces North American competitiveness on the global stage.