In the News: US and HK sign MRA, Other CPA News
The Knoxville Daily Sun reported that the United States and Hong Kong have signed a five-year mutual recognition agreement establishing reciprocity between CPAs in the U.S. and Hong Kong. The agreement was signed at NASBA's 104th Annual Meeting in Nashville. "This new agreement will allow qualified accountants in the U.S. and Hong Kong to work across borders," said Barry Melancon, CPA, AICPA president and CEO. "Globalization is rapidly changing the way business is done across the globe and CPAs will continue to play a vital role in the financial systems in the U.S. and abroad." Mutual Recognition Agreements facilitate the process for qualified professionals with accounting credentials to become certified and licensed in each other's countries. The agreements are subject to individual state board of accountancy acceptance.
One of the most exciting pieces of news to emerge from AICPA governing Council’s Fall meeting last week was the release of the findings from the visionary CPA Horizons 2025 project. Accounting Today reported that Victor Velazquez, AICPA senior vice president of people, strategy and enterprise management, said that globalization is top of mind for a significant number of CPAs. Other priorities found in the data included evolving the educational framework to keep pace with the changing dynamics of business, government and the profession; positioning the CPA as a premier designation of the accounting and finance profession throughout the world; and addressing both U.S. and global demographic shifts. For more information, visit CPA Horizons 2025.
CNN Money named ‘Certified Public Accountant’ as one of the best jobs for fast growth in the United States. The report cited the job security in the profession, noting that to some, that's worth more than gold in today's economy. Regardless of what type job CPAs have and the work they do, they have to go through training and exams. Before you take a stab at it, check your state's prerequisites at AICPA’s This Way to CPA website.
If you come across a recent article of note about the profession, please let me know in the comments section or send me an email.
Have a safe and spooky Halloween weekend!