Sec. 8. The board shall issue a CPA certificate to a holder of a designation granted in a foreign country entitling the holder to engage in the practice of accountancy if:

(1) the foreign authority that granted the designation makes a similar provision to allow an individual who holds a valid certificate issued by the board to obtain the foreign authority's comparable designation;

(2) the foreign designation:

(A) was issued by a foreign authority that regulates the practice of accountancy and has not expired, been revoked, or suspended;

(B) entitles the holder to issue reports for financial statements; and

(C) was issued upon the basis of educational and examination and experience requirements established by the foreign authority; and

(3) the applicant:

(A) received the designation, based on educational and examination standards substantially equivalent to those in effect in Indiana at the time the foreign designation was granted;

(B) meets:

(i) an experience requirement substantially equivalent to the requirement under IC 25-2.1-3-10, in the jurisdiction that granted the foreign designation;

(ii) has completed four (4) years of experience in Indiana or another state of the type described in IC 25-2.1-3-10; or

(iii) meets equivalent requirements established by the board within the ten (10) years immediately preceding the application; and

(C) passed a uniform qualifying examination in national standards and an examination on the laws, rules, and code of ethical conduct in effect in Indiana acceptable to the board.

As added by P.L.30-1993, SEC.7. Amended by P.L.2-1995, SEC.94; P.L.128-2001, SEC.25.