HF 778 — A bill for an act relating to qualifications for a certificate as a certified public accountant and including effective date provisions.

STATEHouse OFFile IOWA778 KIM- REYNOLDSEnrolled GOVERNORHouse May,05File heonrbePulate778 ertryfStefIwaAN ttepiolACT esoie,Iwa539RELATING erM.Seeay,TO hreytnmt:QUALIFICATIONS FOR A CERTIFICATE AS A CERTIFIED PUBLIC ACCOUNTANT AND INCLUDING EFFECTIVE DATE PROVISIONS.

Hoseie78,nAtrltngoulfainsorarictesaetfedbic acunatadicuigefcieaepoiin.

heboeHuseieshrbyppoedntist.

icrl, ko imRyols oerorfIwa c:

Scearyfheeae Clrkfheoue STATECAPITOL DES MOINES521511 FA575327WWW.GOVERNOR.IOWA.GOV F\ IN1 'I 'l ',I '.I 'IlIÏIÎI i ° Ilnawnnn , lmnr., ° ♦ •.

,A.C .1 "'I1• .I I I "'I11 11 1l h.

I iNiI as.

•► •r • I!l l 1 1 il l'8816@Il0 .108ü@ I 1 I1 1 1° _fF ,N F ., R â 1 1 J l X \ l , J F N l B 1 A T "t01 l1 ^1]11I t!lQI 1 O@8111 11@I0"I1 Ql1tII1II1 0!!@l l g0CI House File 778 AN ACT RELATING TO QUALIFICATIONS FOR A CERTIFICATE AS A CERTIFIED PUBLIC ACCOUNTANT AND INCLUDING EFFECTIVE DATE PROVISIONS.

Section 11. .

Section 542.5, subsection 77, , Code 2025, is amended by striking the subsection and inserting in lieu thereof the following:

An applicant for initial issuance of a certificate shall meet all of the requirements of either subparagraph ((1) 1 ) or subparagraph ((2): 2):

A degree required under paragraph a“a” - must bbe eat a t least a baccalaureate degree and bbe e conferred bby y a college oor r university recognized by the board, and the degree program must include a concentration in accounting or another area of study House File 778, pp. .

Experience required under paragraph -a-“a” must 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 requirement prescribed by the board by rule.

A person holding a certificate as a certified public accountant issued by the state prior to July 11, , 2002 2025, is deemed to have met the requirements of this section.

Section 542.19, subsection 11, , paragraph c, subparagraph (2), Code 2025, is amended to read as follows:

(2) The applicant has at least four years of experience within the ten years immediately preceding the application which occurred after passing the examination upon which the applicant'sapplicant’s certificate or license was based and which in the board'sboard’s opinion is substantially equivalent to that required by section 542.5, subsection 312 -27; ;

Section 542.19, subsection 33, , paragraph c, subparagraph (2), Code 2025, is amended to read as follows:

(2) The applicant satisfies an experience requirement, substantially equivalent to the requirement set out in section 542.5, subsection 312 -27, , in the jurisdiction which issued the foreign designation or has completed four years of professional experience in this state;

Section 542.20, subsection 11, , Code 2025, is amended to read as follows:

This section authorizes a person or firm whose principal place of business iis s not in this state to practice public accounting in Iowa in person, or by telephone, mail, or electronic means without licensure under this chapter, paying a fee, or providing notice to the board under the conditions House File 778, pp. .

Such a person or firm must hold a valid, unexpired license in good standing in the state of its the person'sperson’s or firm'sfirm’s principal place of business that is substantially equivaentequivalent te-ato eemparable-ieensea comparable license issued in Iowa in conformance with subsections 5 and 6, and such a person or firm must be licensed to lawfully perform in its the person'sperson’s or firm'sfirm’s principal place of business all public accounting services offered or rendered under a practice privilege in Iowa.

The individual must meet the criteria for substantial cquivalcncyequivalency rcciprocityreciprocity undcrunder scctionsection 542.19, subsection 11, , paragraph 'a"',“a”, "-,“b”, or "c"“c” set forth in subsections 7 and 8.

NEW PARAGRAPH.PARAGRAPH .

lG<'•C1______________________________ ______________________________ PAT GRASSIXYGRASSLEY AMY SINMAIRSINCLAIR Speaker cfof the House President of the Senate I hereby certify that this bill originated in the House and is known as House File 778, Ninety-first General Assembly.

MEfiHAN______________________________ MEGHAN NELSON T,'ofChief Clerk oof the HouHouse e M w \ t Approved _______________, 2025 a______________________________ fKIM fREYNOLDS i * • KI EYNOLDS Governor 4 )