US, South Africa renew mobility agreement

Professional accounting bodies in the United States and South Africa have signed a renewed mutual recognition agreement (MRA), an effort to support cross-border practice between the countries.

The MRA was signed in late January by officials of the U.S. International Qualifications Appraisal Board, representing the AICPA and the National Association of State Boards of Accountancy (NASBA), and the South African Institute of Chartered Accountants (SAICA). It builds on a previous MRA signed in 2019 and extends through June 30, 2031.

“This renewal builds on our strong and trusted partnership with SAICA,” Jim Knafo, CPA, the AICPA’s director–Global Alliances and CEO of the Global Accounting Alliance, said in a news release. “We’re reinforcing our commitment to supporting cross-border opportunities for accounting professionals in both the U.S. and South Africa.”

SAICA CEO Patricia Stock said: “By renewing this partnership with NASBA and the AICPA, we are ensuring our members remain at the forefront of the global accounting profession while continuing to maintain the integrity, quality, and brand of the profession in South Africa.”

The agreement creates a streamlined path for qualified cross-border professionals to work across borders with fewer administrative hurdles. CPAs in the United States and chartered accountants in South Africa will be able to obtain professional mobility in each other’s jurisdictions if they meet established eligibility requirements and remain in good standing.

To comment on this article or to suggest an idea for another article, contact Kevin Brewer at Kevin.Brewer@aicpa-cima.com.