The USCPA-NOW Program is the only course that is targeted to professionals who did not study U.S. Tax and Law as undergraduates. All the other programs describe themselves as "Review Programs".
A NEW MUTUAL RECOGNITION AGREEMENT BETWEEN CANADA AND THE US IS NOW IN EFFECT
(Please read the section below- “*International Applicants Welcome”- if you are an IQEX candidate who is not a Canadian CPA)
On November 1, 2017, The United States, Canada (and Mexico) signed a new five-year Mutual Recognition Agreement (MRA) that offers Canadian CPAs who did not qualify under the old MRA a pathway to obtaining a US CPA by making themselves eligible to write the US International Qualification Examination (IQEX) and then registering with one of 45 State Boards of Accountancy.
To become eligible, non-legacy CA applicants must affirm that they are capable of performing audit and attest services in accordance with relevant professional standards, including having the requisite additional experience and training.
The eligibility requirements are basically unchanged for Canadian IQEX candidates who have passed the now-expired UFE and have met their experience requirements prior to receiving their designations. This is because most Legacy CAs automatically have the right to perform audits in their jurisdictions, whether or not they actual perform this kind of work. If a Legacy CA does NOT have the right to perform audits in his or her home province, the Legacy CA IQEX candidate must demonstrate that they have met the educational requirement for this right through their legacy educational program. Alternatively, they must successfully complete CPA Canada's Post Designation Public Accounting Examination. (Please click for details.)
While the Canadian Chartered Professional Accountant (CPA) program recognizes that a member might concentrate or specialize in one or more areas other than auditing (eg. Forensic Accounting, Managerial Accounting, Taxation etc.), the US mandates that a US CPA must have an in-depth knowledge of Auditing and Attestation. Accordingly, while some former CGAs/CMAs and many graduates of the new Canadian Professional Education Program meet this criterion, there are those who do not. The new MRA does however provide non-qualifying Canadian CPAs a pathway to IQEX eligibility.
If you are a former CGA /CMA or are a Post-Unification graduate of the Canadian Professional Education Program (PEP), please click on one of the two headings below:
As under the prior MRA, Canadian CPAs who received their Canadian credential under a reciprocal agreement with another (generally foreign) professional accountancy organization are not eligible for the IQEX program.
USCPA-NOW is the only IQEX preparation course that assumes you have no prior knowledge of U.S. taxation, U.S. law or U.S. ethics. All the other courses are advertised as “review” programs.
For more information on IQEX and the USCPA-NOW COMPREHENSIVE IQEX PROGRAM, please click “Enter” at the bottom of this page.
USCPA-NOW provides a guided self-study program for $695 which includes reasonable email and/or telephone support from course developer Henry Zimmer. The home-study program will qualify registrants for around 60-75 hours of Continuing Professional Education. No other study materials are required for you to pass IQEX.
The USCPA-NOW materials now include an analysis and discussion of the 26 most likely topics to be tested by the 8 Task Based Simulations which comprise 50% of the exam.