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IA SF477
IA SF477A bill for an act relating to qualifications for a certificate as a certified public accountant and including effective date provisions.(Formerly SSB 1141.)
summary
Introduced
03/03/2025
03/03/2025
In Committee
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
This bill relates to the qualifications for a certificate as a certified public accountant and the practice of public accounting, and includes effective date provisions. Under the bill, an applicant for initial issuance of a certificate as a certified public accountant (CPA) shall have completed at least 150 semester hours of college education, a degree, and no less than one year of experience, or shall have completed at least 120 semester hours of college education, a degree, and no less than two years of experience. A degree required by the bill must be at least a baccalaureate degree and be conferred by a college or university recognized by the board, and the degree program must include a concentration in accounting or another area of study that the board determines to be substantially equivalent. The experience required by the bill shall include providing any type of service or advice involving the use of accounting, attest, compilation, management advisory, financial advisory, tax, or consulting, as verified by an applicant, that meets the requirements prescribed by the board by rule. The experience may be in the government, industry, academia, or public sector.
AI Summary
This bill modifies the requirements for obtaining a Certified Public Accountant (CPA) certificate in Iowa, offering two pathways for initial certification. Under the first pathway, applicants must complete 150 semester hours of college education, obtain a degree, and have at least one year of experience. The alternative pathway allows applicants with 120 semester hours of college education, a degree, and two years of experience. The degree must be at least a baccalaureate level from a board-recognized college or university, with a concentration in accounting or an equivalent area of study. Experience can be in government, industry, academia, or the public sector, and must involve services such as accounting, financial advisory, tax, or consulting. The bill also updates various technical references related to licensure, including provisions for out-of-state practitioners to practice in Iowa, and clarifies compliance requirements. Additionally, the bill adjusts a provision grandfathering existing CPA certificate holders and sets an effective date of July 1, 2026, ensuring professionals have time to adapt to the new requirements.
Sponsors (0)
No sponsors listed
Other Sponsors (1)
State Government (Senate)
Last Action
Withdrawn. S.J. 728. (on 04/08/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF477 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SF477.html |
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