Iqex Exam 2010
The partnership of the American Institute of Certified Public Accountants (AICPA)
, the National State Boards of Accountancy (NASBA) and Prometric testing centers presents the Uniform Certified Public Accountant Examination (CPA Exam).
After intense reciprocity negotiations, it was determined that these professional designations obtained beyond U.S. borders were very close to the rigorous process endured by accountants as they strive to become U.S. Certified Public Accountants (CPAs). These organizations which have reciprocity with the AICPA are:
Canadian Institute of Chartered Accountants (CICA) Instituto Mexicano De Contadores Publicos (IMCP) Institute of Chartered Accountants in Ireland (ICAI) Institute of Chartered Accountants in Australia (ICAA) CPA Australia.
For instance, when you have already passed the Australian CPA and then pass the IQEX, you may be eligible in certain states to be licensed as a CPA in the United States. (Many international candidates are licensed in Illinois because it has the fewest requirements.) A U.S. CPA is the most globally recognized designation and gives you exceptional credibility in your field.
What is the IQEX Exam?
The IQEX exam is strictly multiple choice, a 150 question exam which is 4.5 hours long and delivered through computer-based testing at Prometric. It is only given in English. IQEX does not test on the full diapason of the CPA Exam but rather on those topics which are not traditionally taught to Canadian, Irish, Mexican or Australian accountants:
*accounting for U.S. governmental and not-for-profit organizations *auditing *business law *financial accounting and reporting *taxation, and *professional ethics.
Here is a brief outline of the steps you need to take as an international candidate to sit for the IQEX exam:
*Make your application directly to NASBA (The National Association of State Boards of Accountancy), which maintains the National Candidate Database. Do not apply to a state board of accountancy. In 2009, there was a fee of USD $845 and the applications were due by September 1. As of April 2010, the fees and schedule have not been released.
*You can sit for the exam at Prometric test centers. *Unlike the CPA Exam which is given year round, IQEX is only offered for three weeks in October or November each year. *Your scores are sent to you directly by NASBA (normally in February, following the exam in November).
All IQEX test dates occur within a three week period straddling October and November each year.
After you obtain your Notice to Schedule (NTS) from NASBA, you should contact Prometric (www.prometric.com) to make an appointment for a 4.5 hour block of time on one of the test days during that three week period.
In previous years, Prometric test centers in the US and in major Canadian cities offered IQEX. Since AICPA has made no announcements of change, it is anticipated that they will continue offering the test in the same manner.
Prometric has thousands of test centers across the globe but only a very small subset of them offer the IQEX exam. In 2010, each test center will be open for the entire three week period. In September 2010, AICPA and NASBA will announce the test center locations.
As you may know, there are major changes coming to the 2011 CPA Exam and it is anticipated that the 2011 IQEX Exam will have similar changes.
Can You Get a Copy of a Past IQEX Exam?
The simple answer to this question is, "No."
That being said, past CPA Exam questions are released on a regular basis, giving you the chance to study recent queries. Over 5,100 past CPA Exam questions are organized on CPAexcel's Exam Tutor, an electronic test bank. You can ask Exam Tutor to give you all the questions on a specific topic or ones which are frequently missed on the exam. The questions on the CPA Exam are similar to those on IQEX. The U.S. CPA Reciprocity Exam (IQEX) has been a closed exam since it started.
Unlike the CPA Exam, past questions and rationales are not available.
The most direct route is through the reciprocity channel.
The American Institute of Certified Public Accountants (AICPA) is in a reciprocity agreement with certain nations which AICPA deems to have exams as rigorous as the CPA Exam. These nations and designations are:
Canadian Institute of Chartered Accountants (CICA) Instituto Mexicano De Contadores Publicos (IMCP) Institute of Chartered Accountants in Ireland (ICAI) Institute of Chartered Accountants in Australia (ICAA) CPA Australia.
There is a proviso: the person who has passed the exam must be educated in that nation and licensed originally in that nation. Conversely, those who have acquired their overseas membership through mutual recognition or reciprocity are not eligible. For example, an Irish or Canadian Chartered Accountant who originally qualified as a Welsh Chartered Accountant would not be eligible.
A person who holds one of these specific designations can apply to take the International Uniform Certified Public Accountant Qualification Examination (IQEX). Of these, many Canadian and Australian Chartered Accountants can meet the work experience and education requirements of the 54 U.S. jurisdictions without additional college courses or work experience.
After You Pass
After successfully passing IQEX, you must still meet the requirements of one of the 54 State Boards of Accountancy in order to be licensed or certified as a CPA. Make certain that you follow that jurisdiction's regulations on becoming licensed. Complete the paperwork and submit your supporting documents.
Although state boards are not involved in the IQEX examination itself, they still reserve the right to decide on CPA licensure and certification.
*Most successful IQEX candidates (who do not need a license from a particular state) apply for a CPA certificate from the Illinois State Board of Accountancy. This is the most straightforward option because Illinois does not require any further educational, ethics or work experience requirements for certification.
*Some state boards do not accept IQEX, or only accept it under certain conditions. Some may not accept Irish Chartered Accountants, for example, or may only accept Canadian Chartered Accountants from specific Canadian provinces. Check the requirements before you sign up for the IQEX exam.
by: Eric Anderson.
Cpa Exam Overview For 2010 Schedule For The Cpa Exam How To Study Better Study Techniques Board Of Examiners Make Major Changes To The 2011 Cpa Exam 000-153 study guides Excellent Info - Learn To Talk Dirty - Why It Will Help You In The Bedroom! NS0-154 practice exam Examples Of Pedestrians Severely Hurt While In A Marked Crosswalk Learn Everything about Pointing Devices Bulldog Learning College Admission Guidance: Helping You To Get Admitted To Your Preferred College College Reviews And Statistics: Presenting Vital Information For Choosing The Best College