The American Institute of Certified Public Accountants (AICPA) admits to membership as Certified Public Accountants (CPAs) those who have been educated outside the United States and hold a license similar to the CPA in their home nation.

These Australians must pass the U.S. CPA Reciprocity Exam, which is often called the IQEX (International Uniform Certified Public Accountant Qualification Examination). The IQEX exam will test you on your knowledge of U.S. business law, professional standards, and U.S. taxation codes.

An Australian CPA or CA is:

* An Australian CPA or an Australian CA (Chartered Accountant) with less than four years university education, or who obtained their university degree outside Australia, may not be eligible to sit for IQEX. You must be an Australian educated in Australia who is a CA or CPA to sit for the IQEX. (There have been complaints about this policy because it discriminates against those holding degrees from Hong Kong, India, and China but there is no foreseeable change in the near future.

However, anyone educated in these nations is welcome to sit for the CPA Exam in the U.S. and pass it the same way the other candidates do.)

* After 1992, Australian CPAs who did not take the Audit section of the Australian CPA Program may be required to sit for and pass the Auditing and Attestation (AUD) section of the Uniform CPA Exam, as well as the IQEX exam.

* NASBA will issue a Notice to Schedule for this section of the Uniform CPA Exam to eligible candidates (without requiring state board approval).

* Like all CPA Exams, AUD must be sat for at a test center in the United States.

* The fee to take the AUD section is US $1,030 for a first time candidate. If you need to retake AUD, the fee is US $795. The fee to apply for AUD is US $185.

* Australian CPAs and CAs with less than four years university education, or who obtained their university degree outside Australia, may not be eligible Details. Similar rules apply for Irish CAs.

* Australian CPAs who did not take the Audit section of the Australian CPA Program may be required to sit for and pass the Auditing and Attestation (AUD) section of the Uniform CPA Exam, as well as the IQEX exam.

NASBA will issue a Notice to Schedule for this section of the Uniform CPA Exam to eligible candidates (without requiring state board approval), however like all Uniform CPA Exam papers, it must be sat for at a test center in the United States Australian CPAs required to sit the AUD section of the Uniform CPA Exam must pay USD1,030 as a first time candidate, and USD795 for re-examination. Should AUD be applied for on its own the fee is USD185.

In recent times, there has been significant questioning as to the fairness of the IQEX rules[citation needed] as applied to Australian Certified Practising Accountants.

Many accuse that the rule of requiring a Bachelor’s Degree from the country in which the CPA is a member of limits CPAs who obtained their Bachelor’s from countries such as Hong Kong, India, and China from qualifying for IQEX. These people allege that as members of their respective CPA boards, it should not matter where the Bachelor’s degree was obtained. A CPA from Australia is simply a CPA from Australia whether or not he did his Bachelor’s in India, Hong Kong, or Australia. They allege that there is little justification for such a measure, and it is merely designed to deter them from obtaining a U.S. CPA.

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