Helllo Canadians! Getting qualified for the CPA exam is an easy step if you are a Canadian CA, and even if you haven’t you can still follow the steps to become a US qualified certified public accountant.
Please click a link below so I can figure out the best way to help you:
I understand that all of you are now CPA Canada, but if you were a Canadian CA before the unification, you are eligible for the “fast track” for US CPA licensing.
The US has a long-standing agreement with CICA which allow its members to take the IQEX exam instead of the standard Uniform CPA Exam.
IQEX is what I consider a mini-CPA exam which focuses on the Regulation (REG) part of the full version. In other words, you don’t need to deal with financial accounting and auditing questions this exam.
IQEX is offered two months out of each quarter, similar to that for the Uniform CPA Exam.
IQEX vs Uniform CPA Exam
What’s Great about IQEX
Simple application process with NASBA directly. NASBA stands for National Association of State Boards of Accountancy in the US.
Automatically qualified for the exam with Letter of Good Standing from CICA.
The exam itself is shorter: 3 hours covering Regulation and a bit of business concepts.
IQEX exam sites are available in US as well as in Canada.
Experience that is required for the CPA license can be verified by Canadian CAs in most states.
What to Do Instead without IQEX
Must pick a State Board to apply and fulfill the often complicated educational requirements.
Non-US candidates have to get their transcripts evaluated by third-party credential evaluation agencies.
The exam is much longer with 4 parts (covering financial accounting, audit, business concepts and regulation) totaling 14 hours.
Uniform CPA exam sites are not available in Canada.
Who is Eligible for IQEX in Canada?
Passed the Uniform Final Examination (UFE)
Maintain membership (in good standing) with a Provincial CA Institute.
Note: Candidates who qualified as Canadian Chartered Accountants on the basis of recognition of credentials earned in other countries are NOT eligible to apply.
What If I am a Canadian but Not Eligible for IQEX?
Then you will have to go through the traditional way. Please click here.
9 Steps To Get Your US CPA License With IQEX
Download the IQEX application form from NASBA during the application period from July to August.