(a) The board recognizes the existence of the International Qualifications Appraisal Board (IQAB), a joint body of the National Association of State Boards of Accountancy and the American Institute of Certified Public Accountants, which is charged with:
- (1) evaluating the professional credentialing process of certified public accountants, or their equivalents, from countries other than the United States; and
- (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 certified public accountant in the United States.
- (b) The board shall honor the terms of all principles of reciprocity agreements issued by IQAB.
Source Note:The provisions of this §512.5 adopted to be effective February 27, 2000, 25 TexReg 1383.