How to Take and Pass the IQEX Exam

 

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If you are an accounting professional and a member of a non-U.S. professional association, you can increase your credentials and expand your vocational horizons by taking and passing the International Qualification Examination, or IQEX exam.

The IQEX exam affords internationals the opportunity to earn their USCPA certification through their membership with non-U.S. professional associations that have entered into reciprocity agreements with the U.S. accounting profession. Currently, six organizations maintain these agreements with the United States:

  • Canadian Institute of Chartered Accountants (CICA)
  • The Institute of Chartered Accountants in Australia (ICAA)
  • Chartered Accountants Ireland (CAI)
  • The Instituto Mexicano de Contadores Públicos (IMCP)
  • The Hong Kong Institute of Certified Public Accountants (HKICPA)
  • The New Zealand Institute of Chartered Accountants (NZICA).

If you are associated with one of these institutions, you may be eligible to take the IQEX exam. Each institution sustains specific qualifications that candidates must meet in order to take the IQEX exam, so before you initiate the application process, review these eligibility requirements.

How can I take the IQEX exam?

Once you have determined that you can take the IQEX exam, apply through NASBA. Applying to take the International Qualification Examination will involve submitting a Letter of Good Standing from your professional credential institution, and NASBA must receive your letter before they can release your Notice to Schedule (NTS).

Your NTS may take up to five business days to be processed once you have submitted your application and Letter of Good Standing. You should receive your NTS via the method you indicated on your application, but you can also reprint it from NASBA’s website if that method fails. When you get your NTS, you must verify that the information on your NTS and your necessary identification documents matches exactly. Contact NASBA immediately if you discover errors.

Your NTS is only valid for six months. Its expiration terminates your ability to take the examination, extend the time period, or receive any refunds for fees you may have paid. Therefore, you should make an exam appointment with Prometric, the administrator of the IQEX exam, as soon as you acquire your NTS.

How can I pass the IQEX exam?

Since November 2012, the IQEX exam has imitated the content and format of the Uniform CPA Exam’s Regulation section. Therefore, the IQEX exam is a Computer-Based Test that lasts for three hours and contains four testlets: three featuring multiple-choice questions and the fourth presenting task-based simulations. The examination is only administered during four testing windows that consist of the first two months of each calendar quarter (January 1 – February 28/29, April 1 – May 31, July 1 – August 31, and October 1 – November 30), and it is not given during the third month of each calendar quarter.

Just like the REG section of the CPA Exam, the IQEX exam covers topics such as Ethics, Professional, and Legal Responsibilities; Business Law; and Federal Tax Process, Procedures, Accounting, and Planning. Therefore, to prepare, you can use the Gleim CPA Review course for Regulation, which is based on the AICPA’s CSOs for Regulation. Once you pass the IQEX exam, you can further pursue the CPA certification by meeting the requirements of one of the 55 U.S. State Boards of Accountancy.

To pass the IQEX exam, learn more about our CPA REG Review system today, and if you do not qualify to sit for the IQEX exam or would prefer to earn the powerful USCPA qualification, tap into the help of Gleim CPA Review.

To learn more about the eligibility requirements of the International Qualification Examination and applying through NASBA, visit nasba.org/exams/iqex/, and to schedule your exam appointment, visit prometric.com.