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 Iowa Workforce Information NetworkNovember 23, 2014
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License Title: Certified Public Accountant (Cpa)

License Description: Certified public accountants prepare, analyze and verify business records and financial reports; prepare profit and loss statements, balance sheets, cost studies and tax reports; and, may also develop, install and supervise accounting systems and operations. Using special computer software packages, they transform raw transaction data into a variety of specialized reports and tabulations. They work in one of four major fields of accounting: 1) public, 2) management or industry, 3) government, or 4) internal auditing.

Certified public accountants who qualify on the basis of education and experience, can attest to the accuracy of financial data. Only CPAs can do audits and reviews.


Authorizing Statute: Code of Iowa 542-D; Iowa Administrative Code, 193A, Chapter 3

Requirements for License:The applicant must complete at least 150 semester hours of college education including a baccalaureate or higher degree conferred by a college or university recognized by the board. The total educational program must include an accounting concentration or equivalent as determined by rule to be appropriate. Applicants should review the Iowa Administrative Code for complete educational requirements. All applicants must have one year of qualifying experience.

A person certified in another state may be certified in Iowa without further testing if the applicant meets all of the requirements for certification in Iowa.

One hundred twenty hours of continuing education are required within a wrap-around three-year period for certification renewal.

Fees:
Original Registration: $100 (Initial application)
$100 (Biennial renewal)
Reciprocal registration: $100 (Initial application)
$100 (Biennial certificate)
Duration: Two years
Exam: $305 (Initial application), paid to testing service
$275 (4-section re-exam)
$180 (2-section re-exam)
$130 (1-section re-exam)


Examination:
When:All states use the four-part Uniform CPA Examination prepared by the American Institute of Certified Public Accountants. The exam covers auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation. The exam is offered year round via computer through a network of Prometic Test Centers.
Where:The exam is offered year round via computer through a network of Prometic Test Centers.

License Authority:
Iowa Accountancy Examining Board
Professional Licensing & Regulation Division
Iowa Department of Commerce

1920 SE Hulsizer
Ankeny IA 50021
Phone: 5152814126


 
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