Iowa Administrative Code
Agency 193A - Accountancy Examining Board
Chapter 10 - Continuing Education
Rule 193A-10.7 - Mandatory Education

Universal Citation: IA Admin Code 193A-10.7

Current through Register Vol. 47, No. 13, December 25, 2024

(1) Every CPA certificate holder or LPA license holder who is responsible for supervising compilation services or who signs or authorizes someone to sign the accountant's compilation report on behalf of a firm will complete, as a condition of certificate or license renewal, a minimum of eight hours of continuing professional education devoted to financial statement presentation, such as courses covering the statements on standards for accounting and review services (SSARS) and accounting and auditing updates. The financial statement presentation continuing education has to be completed within the three-year period ending on the December 31 or June 30 preceding the application for certificate or license renewal. For credit to be claimed for a course covering multiple topics, a minimum of one hour as outlined in subrule 10.6(1) has to be devoted to financial statement presentation. For example, if a seminar or presentation is conducted for a total of four hours and only one hour is devoted to financial statement presentation, then only one hour may be claimed toward satisfaction of this subrule.

(2) Every CPA certificate holder or LPA license holder needs to complete a minimum of four hours of continuing education devoted to ethics and rules of professional conduct during the three-year period ending December 31 or June 30, prior to the July 1 annual renewal date. For a course to qualify to satisfy this subrule, the course description will clearly outline the subject matter covered as professional or business ethics. If credit is to be claimed for a course covering multiple topics, a minimum of one hour as outlined in rule 193A-10.6 (542), measurement standards, specifically in subrule 10.6(1), needs to be devoted to business or professional ethics. For example, if a seminar or presentation is conducted for a total of four hours and only one hour is devoted to business or professional ethics, then only one hour may be claimed toward satisfaction of this subrule. Ethics courses, which are defined as courses dealing with regulatory and behavioral ethics, are limited to courses on the following:

a. Professional standards;

b. Licenses and renewals;

c. SEC oversight;

d. Competence;

e. Acts discreditable;

f. Advertising and other forms of solicitation;

g. Independence;

h. Integrity and objectivity;

i. Confidential client information;

j. Contingent fees;

k. Commissions;

l. Conflicts of interest;

m. Full disclosure;

n. Malpractice;

o. Record retention;

p. Professional conduct;

q. Ethical practice in business;

r. Personal ethics;

s. Ethical decision making; and

t. Corporate ethics and risk management as these topics relate to malpractice and relate solely to the practice of certified public accounting.

Disclaimer: These regulations may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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