CPA Canada has signed a renewal (extension) of the IQEX Mutual Recognition Agreement (MRA) with NASBA/AICPA in the U.S. until April 1, 2017 for LEGACY CAs/CPAs who have passed the Canadian UFE and are members in good standing with their Provincial Institutes.
CPA Canada is hopeful that a new long-term agreement will be in place by that time that will include recent CPA graduates and those who obtained their CPA designations via the merger.
LEGACY CPAs may now register with NASBA on or before April 1,2017. If you qualify, you may write IQEX either in the April/May 2017 testing period or during the July/August 2017 testing period since a Notice to Schedule is valid for six months. As long as you intend to register with NASBA by April 1, 2017, you may now order the updated USCPA-NOW course materials for the new 4-hour exam in April/May or July/August. You may also register for the live courses in Toronto or Vancouver in preparation for the July/August IQEX offering.
If you are a recent graduate of the Canadian Professional Education Program or have received your designation via the CGA/CMA/CA merger, you will NOT be eligible to write IQEX in April/May 2017. (Even if a favorable long-term agreement is signed in April, you would not have sufficient time to prepare.)
However, if you are a member in good standing in a Canadian Provincial Institute and are considering obtaining a US CPA in the near future, you do have a reasonable option. Although you may not submit a valid application to NASBA at this time, you may register for the updated USCPA-NOW materials for the July/August exam (and the live courses as well). The materials will not change over the next two or three testing periods. Early registration will obviously provide a longer study-window.
USCPA-NOW undertakes to refund all fees paid by you for materials and live courses if you are ineligible to write IQEX before the end of 2017, less $100 that will be retained to cover the costs of printed notes, the Wiley textbook and shipping. Since I am confident that a long-term MRA will be signed, I am prepared to limit your monetary risk to only $100. In a worst-case scenario, reviewing the USCPA-Now materials will provide a practical opportunity to accumulate CPE hours. Additional information will be posted on this website as soon as it becomes available.
Henry Zimmer FCPA (Alberta), CPA (AZ Ret.)
My Comprehensive IQEX Program is also appropriate for Irish, Mexican, New Zealand, and Australian CAs and Hong Kong CPAs
Combine a world-recognized accounting designation with your professional educational responsibilities
Includes all course materials shipped to you upon registration and a 2-day weekend program in Toronto or Vancouver in May/June or September, as well as reasonable email and/or telephone support with course developer Henry Zimmer FCPA (Alberta), CPA (AZ Ret.). The live course provides 14 hours of Continuing Professional Education and the required home study needed to pass the exam is approximately an additional 75 hours.
If you are unable to attend a live session, I provide a guided self-study program at a reduced fee which includes reasonable email and/or telephone support. The home-study program will qualify registrants for around 60-75 hours of Continuing Professional Education.
The USCPA-NOW 2017 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.