(1) Licensure by Reciprocity.

1. (a) United States or United States Territories Licensees. Upon completion of the application and payment of the fee therefore the board shall issue a Commonwealth of Massachusetts certificate to a holder of a certificate issued by another state upon a showing that:

   1. 1. The applicant passed the examination required for issuance of his certificate; and

   2. 2. The applicant produced, attached to the application, a copy of his or her valid certificate or license as a Certified Public Accountant, and;

      1. a. The certificate or license as a Certified Public Accountant was issued by a state verified to be in substantial equivalence with the Certified Public Accountant licensure requirements of the AICPA/NASBA Uniform Accountancy Act, or
      2. b. If the certificate or license as a Certified Public Accountant was not issued by a State deemed to have substantial equivalence, the applicant must demonstrate that he or she has been engaged in the full time practice of public accountancy as a Licensed Certified Public Accountant for four of the ten years preceding the date of application for Commonwealth of Massachusetts reciprocal licensure.

2. (b) Canadian Chartered Accountants. Canadian Chartered Accountants (CA) who have successfully completed the Canadian Uniform Final Examination are not required to complete the Uniform CPA Examination in order to achieve the CPA designation. CA applicants for reciprocity shall meet the following requirements:

   1. 1. CA applicants shall have passed the International Uniform CPA Qualification Examination (IQEX) designed to ensure that they have satisfactory knowledge of relevant U.S. legislation, standards, and practices. In addition to passing IQEX, licensure applicants must satisfy the requirements of 252 CMR 2.07(2)(b) regarding experience in order to obtain the CPA designation.
   2. 2. CA applicants must hold a valid, current license to practice in Canada.
   3. 3. CA applicants shall furnish written credentials in regard to education, character, and general qualifications in the same form as is required of all other applicants.
3. (c) Other Foreign Licensed Chartered Accountants. The Board in its discretion and on a case by case basis, will accept applications for other foreign licensed Charter Accountants or CPAs to sit for and pass the IQEX and apply for reciprocity based upon their compliance with the education and experience requirements of 252 CMR 2.07 or the requirements of a Mutual Recognition Agreement entered into by NASBA and AICPA with the individual's home country. All applicants must hold a current license to practice in these other jurisdictions. These applicants shall furnish written credentials with regard to character and general qualifications in the same form as is required for all other applicants.