US, South Africa renew accounting recognition pact

U.S. and South African accounting organizations have renewed an earlier mutual recognition agreement through mid-2031, allowing accountants to practice in both countries.

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The deal was signed in late January by officials of the U.S. International Qualifications Appraisal Board (representing the National Association of State Boards of Accountancy and the American Institute of CPAs) and the South African Institute of Chartered Accountants. It builds on a prior agreement from 2019 that’s now extended through June 30, 2031.

“Our relationship with SAICA is built on trust and shared expectations for the profession,” said NASBA president and CEO Daniel Dustin in a statement Thursday. “This renewal strengthens that foundation and reflects the consistency between our countries’ regulatory systems. It also makes it easier for qualified professionals to navigate opportunities between our countries while maintaining the standards each of our organizations expects.”

The mutual recognition agreement provides a streamlined path for qualified cross-border professionals to work across borders while facing fewer administrative hurdles. CPAs in the U.S. and chartered accountants in South Africa can obtain professional mobility in each other’s jurisdictions if they meet established eligibility requirements and remain in good standing.

“By renewing this partnership with NASBA and the AICPA, we are ensuring our members remain at the forefront of the global accounting profession while continuing to maintain the integrity, quality, and brand of the profession in South Africa,” said SAICA CEO Patricia Stock in a statement.

“This renewal builds on our strong and trusted partnership with SAICA,” said Jim Knafo, the AICPA’s director of global alliances, in a statement. “We’re reinforcing our commitment to supporting cross-border opportunities for accounting professionals in both the U.S. and South Africa.”

Besides South Africa, the U.S. also has mutual recognition agreements with accounting organizations in Australia, Canada, Ireland, Mexico and New Zealand. NASBA’s resource page on mutual recognition agreements includes links to the following agreements: