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STATE OF IOWA
KIM REYNOLDS
GOVERNOR
May 1, 2025
The Honorable Paul Pate
Secretary of State of Iowa
State Capitol
Des Moines, Iowa 50319
Dear Mr. Secretary,
I hereby transmit:
House File 778, an Act relating to qualifications for a certificate as a certified public
accountant and including effective date provisions.
The above House File is hereby approved on this date.
Sincerely,
ko
Kim Reynolds
Governor of Iowa
cc: Secretary of the Senate
Clerk of the House
STATE CAPITOL DES MOINES, IOWA 50319 515.281.5211 FAX 515.725.3527 WWW.GOVERNOR.IOWA.GOV
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House File 778
AN ACT
RELATING TO QUALIFICATIONS FOR A CERTIFICATE AS A CERTIFIED
PUBLIC ACCOUNTANT AND INCLUDING EFFECTIVE DATE PROVISIONS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1. Section 542.5, subsection 7, Code 2025, is
amended by striking the subsection and inserting in lieu
thereof the following:
7. a. An applicant for initial issuance of a certificate
shall meet all of the requirements of either subparagraph ( 1)
or subparagraph ( 2):
( 1) The applicant meets all of the following:
( a) The applicant has completed at least one hundred fifty
semester hours, or the trimester or quarter equivalent of one
hundred fifty semester hours, of college education.
( b) The applicant has a degree.
( c) The applicant has no less than one year of experience.
( 2) The applicant meets all of the following:
( a) The applicant has completed at least one hundred twenty
semester hours, or the trimester or quarter equivalent of one
hundred twenty semester hours, of college education.
( b) The applicant has a degree.
( c) The applicant has no less than two years of experience.
b. A degree required under paragraph - a - 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
House File 778, p. 2
that the board determines to be substantially equivalent.
c. Experience required under
providing any type of service or
accounting, attest, compilation,
advisory, tax, or consulting, as
meets the requirement prescribed
paragraph - a - must include
advice involving the use of
management advisory, financial
verified by an applicant, that
by the board by rule. The
experience may be in the government, industry, academia, or
public sector.
Sec. 2. Section 542.5, subsection 12, Code 2025, is amended
by striking the subsection.
Sec. 3. Section 542.5, subsection 13, Code 2025, is amended
to read as follows:
13. A person holding a certificate as a certified public
accountant issued by the state prior to July 1, 2002 2025, is
deemed to have met the requirements of this section.
Sec. 4. Section 542.19, subsection 1, 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's certificate or license was based and which in the
board's opinion is substantially equivalent to that required by
section 542.5, subsection 3-2 7; and,
Sec. 5. Section 542.19, subsection 3, paragraph c,
subparagraph ( 2), Code 2025, is
( 2) The applicant satisfies
substantially equivalent to the
section 542.5, subsection 3-2 7,
amended to read as follows:
an experience requirement,
requirement set out in
in the jurisdiction which
issued the foreign designation or has completed four years of
professional experience in this state; or meets equivalent
requirements prescribed by the board by rule, within the ten
years immediately preceding the application.
Sec. 6. Section 542.20, subsection 1, Code 2025, is amended
to read as follows:
1. This section authorizes a person or firm whose principal
place of business is 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, p. 3
described in this section. Such a person or firm must hold
a valid, unexpired license in good standing in the state of
its the person's or firm's principal place of business that is
substantially equi vale n t t e- a eemparable-ieens e issued in
in conformance with subsections 5 and 6, and such a person or
firm must be licensed to lawfully perform in its the person's
or firm's principal place of business all public accounting
services offered or rendered under a practice privilege in
Iowa.
Sec. 7. Section 542.20, subsection 6, paragraph a, Code
2025, is amended to read as follows:
a. The individual must meet the criteria for substantial
cquivalcncy rcciprocity undcr scction 542.19, subsection 1,
paragraph ' a"', " b - , or " c" set forth in subsections 7 and 8.
Sec. 8. Section 542.20, subsection 7, Code 2025, is amended
by adding the following new paragraph:
NEW PARAGRAPH. e. Complies with the requirements of this
chapter, and all rules adopted by the board.
Sec. 9. EFFECTIVE DATE. This Act takes effect July 1, 2026.
PAT GRASSIXY
Speaker cdf the House
•lG<'•C1
AMY SINMAIR
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.
Approved Mw\ 5t
MEfiHAN NELSON
CT,' of Clerk o the Hou e
2025 affi*•
KI EYNOLDS
Governor 4)