This bill amends the qualifications for obtaining a certificate as a certified public accountant (CPA) in Iowa. It establishes two pathways for applicants: one requiring at least 150 semester hours of college education, a degree, and one year of experience, and the other requiring at least 120 semester hours, a degree, and two years of experience. The degree must be a baccalaureate conferred by a recognized institution and include a concentration in accounting or a substantially equivalent field. Additionally, the bill specifies that the required experience must involve providing services related to accounting and can be gained in various sectors, including government and academia.

The bill also makes several amendments to existing law, including the deletion of certain subsections and the insertion of new provisions regarding the practice of public accounting in Iowa. It allows individuals or firms from outside the state to practice in Iowa without licensure under specific conditions, including holding a valid license in their principal place of business. Furthermore, it introduces new compliance requirements and clarifies the effective date of the changes, which will take effect on July 1, 2026.

Statutes affected:
Introduced: 542.5, 542.19, 542.20