House File 778 amends the requirements for obtaining a certified public accountant (CPA) certificate in Iowa. The bill introduces new criteria for applicants, allowing them to qualify under two different sets of educational and experience requirements. Specifically, applicants can either complete 150 semester hours of college education with one year of experience or 120 semester hours with two years of experience. Additionally, the degree must be a baccalaureate in accounting or a related field recognized by the board. The bill also clarifies that the experience must involve providing services related to accounting and can be gained in various sectors, including government and academia.

Furthermore, the bill makes several amendments to existing law, including the deletion of certain subsections and the adjustment of experience requirements for applicants with foreign designations. It allows individuals or firms from outside Iowa to practice public accounting in the state under specific conditions, including holding a valid license in their home state. The bill also establishes that it will take effect on July 1, 2026. Overall, House File 778 aims to modernize and clarify the qualifications for CPAs in Iowa while ensuring compliance with the board's regulations.

Statutes affected:
Introduced: 542.5, 542.19, 542.20
Enrolled: 542.5, 542.19, 542.20