|(a) The board recognizes the existence of the U.S.
IQAB, a joint body of NASBA and the AICPA, which is charged with:
(1) evaluating the professional credentialing process
of CPAs, or their equivalents, from countries other than the United
(2) negotiating principles of reciprocity agreements
with the appropriate professional and/or governmental bodies of other
countries seeking recognition as having requirements substantially
equivalent to the requirements for the certificate of a CPA in the
(b) Upon determination by the U.S. IQAB that a foreign
jurisdiction had education, examination and experience requirements
that are comparable to or exceed those requirements in effect in this
state on the date the foreign credential was granted and the foreign
jurisdiction issues credentials by reciprocity to holders of a certificate
issued by the board, the board shall designate that foreign jurisdiction
as being substantially equivalent for certification by reciprocity
under this chapter.
(c) The board shall honor the terms of all reciprocity
agreements issued by U.S. IQAB and shall issue a certificate by reciprocity
to the extent required by a United States treaty.