| 3 | | - | House File 778, p. 2 that the board determines to be substantially equivalent. c. Experience required under paragraph 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. 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 applicants certificate or license was based and which in the boards opinion is substantially equivalent to that required by section 542.5, subsection 12 7 ; and, Sec. 5. Section 542.19, subsection 3, 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 12 7 , 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 |
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| 3 | + | H.F. 778 Section 1. Section 542.5, subsection 7, Code 2025, is 1 amended by striking the subsection and inserting in lieu 2 thereof the following: 3 7. a. An applicant for initial issuance of a certificate 4 shall meet all of the requirements of either subparagraph (1) 5 or subparagraph (2): 6 (1) The applicant meets all of the following: 7 (a) The applicant has completed at least one hundred fifty 8 semester hours, or the trimester or quarter equivalent of one 9 hundred fifty semester hours, of college education. 10 (b) The applicant has a degree. 11 (c) The applicant has no less than one year of experience. 12 (2) The applicant meets all of the following: 13 (a) The applicant has completed at least one hundred twenty 14 semester hours, or the trimester or quarter equivalent of one 15 hundred twenty semester hours, of college education. 16 (b) The applicant has a degree. 17 (c) The applicant has no less than two years of experience. 18 b. A degree required under paragraph a must be at least 19 a baccalaureate degree and be conferred by a college or 20 university recognized by the board, and the degree program must 21 include a concentration in accounting or another area of study 22 that the board determines to be substantially equivalent. 23 c. Experience required under paragraph a must include 24 providing any type of service or advice involving the use of 25 accounting, attest, compilation, management advisory, financial 26 advisory, tax, or consulting, as verified by an applicant, that 27 meets the requirement prescribed by the board by rule. The 28 experience may be in the government, industry, academia, or 29 public sector. 30 Sec. 2. Section 542.5, subsection 12, Code 2025, is amended 31 by striking the subsection. 32 Sec. 3. Section 542.5, subsection 13, Code 2025, is amended 33 to read as follows: 34 13. A person holding a certificate as a certified public 35 -1- LSB 1872HV (1) 91 nls/ko 1/ 3 |
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