New guidelines for reciprocity.




New Guidelines for Reciprocity

The World Trade Organization adopted Guidelines for Mutual Recognition Agreements on professional accounting qualifications. The guidelines are intended to make it easier for qualified accountants to practice across international borders by providing a common approach to negotiating reciprocity arrangements.

"The guidelines assure us that we are on the right track in negoitating with other countries to create more opportunities abroad for U.S. CPAs and to make it easier for foreign accountants who meet our standards to practice here," said Harris W. Widmer, chairman of the U.S. International Qualifications Appraisal Board (IQAB). The IQAB is a joint body of the National Association of State Boards of Accountancy and the American Institute of CPAs.

The objective of the guidelines is to ensure the process of negotiating mutual recognition agreements in accounting is open and that qualification standards are applied in a fair, objective and nondiscriminatory manner. They are nonbinding and are intended to be used by members of the WTO on a voluntary basis.

A copy of the guidelines is available on the WTO Web site at http://www.wto.org .



SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.