US-UK deal on accounting qualifications stalls after disputes

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The story "US-UK deal on accounting qualifications stalls after disputes" was covered 2 days ago by Financial Times, a news publisher based in United States.

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Financial Times 2d ago

US-UK deal on accounting qualifications stalls after disputes - Financial Times

Quick Summary:

A further hurdle, according to British professionals, has been the US unwillingness to include one of three major bodies that provide audit qualifications in the UK.

Professional bodies in the US and Scotland agreed a pilot programme in 2018 that allowed limited recognition of each other’s accounting qualifications.

It has proposed amending the Companies Act to allow professional bodies to count auditors’ foreign audit experience towards qualifications in the UK.