Updated December 30, 2022
If you have completed your CPA exam, and you hold a U.S. CPA license, you can earn a Canadian CPA designation. The MRA (mutual recognition agreement) between all Canadian CPA bodies and the United States International Qualifications Appraisal Board (IQAB), which represents the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA), came into effect on 1st January, 2018.
Members of provincial/regional CPA bodies have the right to:
State Boards of Accountancy with which Canadian bodies have reciprocity (passing the international qualification examination is required) and which have adopted the 150-hour education requirement prescribed by NASBA & the AICPA.
STATE BOARDS OF ACCOUNTANCY WITH WHICH CANADIAN BODIES DO NOT OFFER RECIPROCITY - PASSING THE CFE IS REQUIRED
Notes: The information contained herein is subject to change by the US state boards without notice. It is the responsibility of the applicant to confirm and, if necessary, provide proof that the state board has adopted the 150-hour education requirement.
Updated December 29, 2022
The NASBA has released critical details for anyone who is willing to sit for the CPA Exam at the end of the year and beyond. All of the dates listed below might change later, but they are critical to be aware of because they may affect your plans.
By the end of 2023, the CPA will no longer allow you to take BEC.
The NASBA Gateway system will no longer process authorisations to Test and Notices to Schedule (NTS) for BEC after November 15, 2023.
That means that Boards of Accountancy will have to set BEC application deadlines before then.
When those dates become available, they will be posted on the NASBA website, and we will keep you updated.
That means that if you pass all four sections of the CPA Exam before December 15, 2023, none of the other content or administration changes should affe
The CPA Exam will not be administered between December 16, 2023 and January 9, 2024, so that testing centers can get ready to administer the 2024 CPA Exam.
The new exam, which incorporates all of the CPA Evolution changes, will be available beginning January 10, 2024.
The Boards of Accountancy are considering extending credit for any sections passed by candidates on January 1, 2024, to June 30, 2025.
Accountancy boards are also considering changing the start date of the 18-month rolling window for CPA Exam credit.
The CPA Evolution initiative has been taken into consideration as it modernizes the CPA licensure model to highlight the skills and competencies needed to practice accounting today and in the near future. Evolution introduces a new CPA Exam that tests a particular skill set required by all the candidates, as well as a chosen Discipline in which they can demonstrate their skills and knowledge in detail. The new CPA Exam will still be 16 hours long and will be divided into four sections, three core and one discipline.
The unique "CORE plus Discipline" framework is intended to demonstrate that CPAs have the in-depth knowledge required to perform professional requirement. This also demonstrates the reality of most methods that concentrate on a single important area of accounting instead of all of them simultaneously. This model will enable the AICPA to easily include or exclude Disciplines in order to accurately recognise practice as it evolves.
Irrespective of which discipline a candidate tests in, once they obtain their CPA licence, they will be able to practice in any area.
The new CPA Exam will be available on January 10, 2024. That is when you will be able to take segments of the new and improved CPA Exam pattern.
The existing AUD, FAR, and REG segments will be renamed "Core," and all candidates will be required to pass them in order to pass the CPA Exam. The current BEC section, on the other hand, is being phased out. Candidates will choose one of three new "Discipline" sections to demonstrate deeper skills and knowledge in place of BEC.
The new CPA Exam Discipline sections are as follows:
The management of the new CPA Exam is anticipated to remain largely unchanged: it will still take the same 16 hours as it does now and will be divided into four sections.
Accounting students should be aware of the exam's educational requirements. They have not yet changed, but in June 2021, a new model for an accounting curriculum in line with the CPA Evolution updates was unveiled.
We recommend that candidates complete their CPA studies as soon as possible to avoid having to account for these changes.
The AICPA released an Exposure Draft (ED) containing tentative CPA Evolution Blueprints for public comment on June 28, 2022, giving the public their first look at the content coming to the CPA Exam in 2024.
In addition to the draught Uniform CPA Examination Blueprints, the ED presents the findings and conclusions of the AICPA's Practice Analysis, which was used to draught the blueprints and was overseen by the Board of Examiners.
The Practice Analysis was designed to identify the technical knowledge and critical skills required of newly licensed CPAs, so the Evolution Blueprint draught is the first look at how the new CPA Exam is addressing the accounting skills gap and ensuring the CPA Certification remains the gold standard in the accounting world.
The Evolution blueprints include not only the content (represented by representative task statements for each exam section), but also the proposed number of questions, how the AICPA intends to weight the content on the new CPA Exam, and the critical skills assigned for testing on each exam section.