How does one transition from ICAEW to Canada CPA and then to US CPA?

To transition from ICAEW (Institute of Chartered Accountants in England and Wales) to the CPA designation in Canada and then to the US CPA designation, the individual needs to undertake a series of steps, each conforming to the specific requirements outlined by the respective Accounting bodies.
Transition from ICAEW to CPA Canada:
Mutual Recognition Agreement (MRA): ICAEW has MRAs with CPA Canada, allowing members to gain the Canadian CPA designation with certain exemptions. It is important to verify if these exemptions are applicable at the time of application.
Eligibility Requirements: Typically, ICAEW members must provide proof of membership in good standing and sometimes may need to demonstrate relevant work experience.
Examination Requirement: Some members might be required to pass additional examinations depending on their educational and professional background.
Application Process: Submit an application through the relevant provincial CPA body in Canada, meeting stipulated residency requirements if applicable.
Transition from Canada CPA to US CPA:
MRA Utilization: CPA Canada has MRAs with several US states. However, since US CPA licensure is state-specific, candidates must choose a state board that accepts the MRA.
Evaluation of Credentials: The chosen US state board will assess the Canadian CPA credentials to ensure they meet that state’s educational and experience requirements.
Examination Requirement: Depending on the state, CPA Canada members might need to pass the CPA IQEX (International Qualification Examination) or state-specific CPA exam sections.
Experience Verification: Many states require CPA candidates to prove a certain level of professional Accounting experience, which can sometimes be fulfilled by previous work in Canada.

In conclusion, while MRAs simplify the process, each transition phase requires thorough adherence to the respective national and regional board requirements, along with potentially completing additional exams or fulfilling specific experience mandates. It is highly recommended to contact the Accounting bodies directly to get the most accurate and updated guidance regarding the transition processes.