(1) The board may grant a certificate or permit to practice to a foreign-trained applicant if all of the regulations established under ARM 24.201.528 regarding out-of-state applicants have been met, or by meeting the following requirements:

(a) the applicant met the issuing body's education requirement and passed the issuing body's examination used to qualify its own domestic candidates. The board may in its discretion rely on the international qualifications appraisal board for evaluation of foreign credential equivalency;

(b) all held foreign and domestic credentials must be valid and in good standing at the time of application;

(c) must successfully pass a uniform qualifying examination to ensure that the holder possess adequate knowledge of national practice standards. The board may in its discretion rely on the national association of state boards of accountancy, the American institute of certified public accountants (AICPA) , or other professional bodies to develop, administer, and grade such a qualifying examination;

(d) must take and pass the open book AICPA ethics course;

(e) must provide evidence of having met an equivalent experience requirement obtained under the supervision or direction of a chartered accountant, certified public accountant or licensed public accountant in the original jurisdiction in order to be issued an initial permit to practice;

(f) must meet the continuing professional education requirements established under 37-50-314 , MCA, and the regulations established thereunder in order to be issued an initial permit to practice; and

(g) the foreign authority granting the designation to the applicant must make a similar provision to allow a person who holds a valid certificate or permit to practice issued by this state to obtain such foreign authority's comparable designation.