For many Canadian CPAs, the prospect of earning a U.S. designation feels like a mountain of work. We often think of the four grueling sections of the U.S. CPA exam and decide our current letters are enough.
But what if you could skip 75% of that work? Thanks to the Mutual Recognition Agreement (MRA) – which was officially renewed in March 2026 and extended through December 31, 2028 – the path to becoming a U.S. CPA has never been more efficient.
What is the IQEX?
The International Qualification Examination (IQEX) is a specialized pathway designed specifically for CPAs in good standing from reciprocal countries like Canada. Under the current MRA, eligible Canadian CPAs are exempt from the Auditing (AUD), Financial Reporting (FAR), and Discipline sections.
Instead, you only sit for one exam: Regulation (REG).
Why 2026 is the Year to Make the Move
With the North American economy becoming increasingly integrated, the demand for dual-licensed professionals is at an all-time high. By adding the U.S. CPA to your profile this year, you unlock:
- Cross-Border Expertise: Lead high-value engagements involving U.S. tax treaties and IRS compliance – areas most local accountants won’t touch.
- Remote Mobility: U.S. firms are actively recruiting Canadian talent for remote-first roles, offering competitive U.S.-scale compensation.
- The “Becker” Advantage: Since the IQEX is essentially the REG section of the U.S. CPA exam, you can prepare using the gold-standard tools used by the top 100 accounting firms.
2026 IQEX Eligibility: Do You Qualify?
To take advantage of the 1-exam shortcut, you generally must meet the following criteria:
- Good Standing: Hold a valid CPA membership with a provincial or territorial body in Canada.
- Education: Hold a baccalaureate degree or higher.
- Experience: Meet the Uniform Accountancy Act (UAA) experience requirements (typically at least 150 semester hours of education and one year of experience).
- The Pathway: Most post-unification CPAs who passed the CFE with depth in Financial Reporting and Assurance are eligible.
The Exam Breakdown: What to Expect
The IQEX is a 4-hour exam that focuses exclusively on the U.S. Regulation (REG) core. It tests your knowledge of:
- U.S. Federal Taxation: Ethics, professional responsibilities, and federal tax procedures.
- Business Law: Contracts, agency, and the Uniform Commercial Code.
- Federal Taxation of Property & Entities: Recurring and routine transactions for individuals and businesses.
How to Get Started
- Request a Letter of Good Standing: Contact your provincial CPA body to send verification directly to NASBA.
- Apply via NASBA: Create your account and submit your IQEX application.
- Strategic Prep: Because you only have one exam to pass, precision is key. Morgan International offers a structured, Becker-powered roadmap to ensure you master the U.S. tax and law nuances on your first attempt.
Ready to see if you qualify for the 1-exam shortcut? Speak with a Morgan International advisor today to explore your custom pathway!
