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The purpose of IQEX
(International Uniform Certified Public Accountant Qualification
Examination) is to facilitate the US CPA qualification process for those
accounting professionals from other countries whose professional bodies
have entered into reciprocity agreements with the US accounting
profession. At present, such agreements are in effect only with the
Canadian Institute of Chartered Accountants (CICA), the Institute of
Chartered Accountants in Australia (ICAA), Australian Certified Public
Accountants, and Mexican Contadores Publicos. The examination is a four
and one-half hour objective item examination prepared by the American
Institute of Certified Public Accountants (AICPA). The examination is
offered only in English and is administered as a Computer Based Test
(CBT) once a year in November.
CPA / IQEX
Professional and legal responsibilities (10%)
CPA / IQEX
Business law (20%-25%)
CPA / IQEX
Auditing (10%-15%)
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Plan the engagement, evaluate the prospective client and engagement,
decide whether to accept or continue the client and the engagement,
and enter into an agreement with the client
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Obtain and document information to form a basis for conclusions
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Review the engagement to provide reasonable assurance that
objectives are achieved and evaluate information obtained to reach
and to document engagement conclusions
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Prepare communications to satisfy engagement objectives
CPA / IQEX
Taxation (25%-30%)
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Federal taxation—individuals
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Federal taxation—corporations
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Federal taxation—partnerships
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Federal taxation—estates and trusts, exempt organizations, and
preparers' responsibilities
CPA / IQEX
Accounting for governmental and not-for-profit organizations (15%)
CPA / IQEX Financial
accounting & reporting (10%-15%)
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Concepts and standards for financial statements
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Recognition, measurement, valuation, and presentation of typical
items in financial statements in conformity with generally accepted
accounting principles
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Recognition, measurement, valuation, and presentation of specific
types of transactions and events in financial statements in
conformity with generally accepted accounting principles
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