Israeli CPA Institute Opposes Reciprocity

Tony Hillman, president of the Israeli Institute of CPAs (ICPAI), informed attendees at the group's Jerusalem meeting, that the ICPAI would most likely oppose any reciprocity allowing accountants outside of Israel to practice within the state.

The opposed statement will be given, Hillman said, to the International Federation of Accountants (IFAC), calling for the "wholesale opening up of the world accountancy market."

The IFAC asked member Institutes like ICPAI to present their official positions. So far, the ICPAI Central Committee has gone public as opposed to the idea, but is in favor of some flexibility if foreign accountants were subject to the professional and ethical rules effective in the country in which they elect to work.

Shortly, the ICPAI will ask all public firms in Israel for their opinion on the issue.

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