Florida Accountancy Board Votes to Amend Rules Honoring Professional Agreement with Hong Kong
December 5, 2011
TALLAHASSEE, Fla. - The Florida Board of Accountancy today voted to amend its rules to honor a five-year mutual recognition agreement establishing the basis for reciprocity between the United States and Hong Kong accounting professions. By electing to honor the agreement, the Board will include Hong Kong on the list of countries that have Board-approved college or university accounting programs. Accountants with the designation in Hong Kong will be permitted to gain licensure without having to take the U.S. Uniform CPA Exam.
Reciprocal mutual recognition agreements allow qualified accountants to work across borders and streamline the processes to become certified and licensed in participating countries. The mutual recognition agreement with Hong Kong was signed in October by the Hong Kong Institute of CPAs, the American Institute of CPAs and the National Association of State Boards of Accountancy after six years of negotiations. Currently, the Florida Board of Accountancy has similar ratified agreements with Canada, Mexico, Ireland, Australia and New Zealand.
The Florida Board of Accountancy consists of nine members who work with the Department of Business and Professional Regulation to license efficiently and regulate fairly. There are almost 30,000 Certified Public Accountants and 5,100 accountancy firms licensed in Florida.
The Department of Business and Professional Regulation licenses and regulates nearly one million businesses and professionals ranging from hotels and restaurants, real estate agents and accountants to contractors, veterinarians and cosmetologists. For more information, please visit www.MyFloridaLicense.com.