Florida Board of Accountancy to Consider Professional Recognition Agreement with Hong Kong
November 28, 2011
TALLAHASSEE, Fla. - The Florida Board of Accountancy this week will consider amending its rules to honor a five-year mutual recognition agreement that establishes the basis for reciprocity between the United States and Hong Kong accounting professions. If the Board elects to honor the agreement, Hong Kong will be added to the list of countries with Board-approved college or university accounting programs.
Reciprocal mutual recognition agreements allow qualified accountants to work across borders and also streamline the processes to become certified and licensed in each other’s countries. The mutual recognition agreement was signed on October 24, 2011 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 in meeting its mission 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.