Current through Register Vol. 47, No. 6, September 18, 2024
(1) Individuals who
satisfy the conditions for a practice privilege may practice public accounting in
Iowa or for a client with a home office in Iowa in person or by telephone, mail,
or electronic means without licensure under Iowa Code chapter 542 or notice to
the board.
(2) Individuals lawfully
practicing public accounting under a practice privilege may use the title "CPA"
as long as they do not have an office in Iowa, except as provided in subrule
20.3(2).
(3) Individuals practicing
public accounting in Iowa or for a client with a home office in Iowa while
exercising a practice privilege are subject to all of the following provisions:
a. Practice privilege practitioners are not
allowed to make any representation tending to falsely indicate that the
individuals are licensed under Iowa Code chapter 542. Such individuals may
truthfully identify themselves as licensed in any jurisdiction in which they hold
a valid, active, unexpired license to practice as a certified public accountant.
For example, a practice privilege practitioner could not use the title "Iowa CPA"
or otherwise state or imply licensure in Iowa, but, if true, the individual could
use a title such as "CPA, licensed in Texas" or "Florida CPA." Such individuals
could also truthfully state that they are CPAs practicing under a practice
privilege.
b. Practice privilege
practitioners will provide, upon a client's or prospective client's request,
accurate information on the state or states of licensure, principal place of
business, contact information, and manner in which licensure status can be
verified.
c. Practice privilege
practitioners will comply with all professional standards, laws, and rules that
apply to licensees performing the same professional services.
(4) As a condition of exercising the
practice privilege provided in Iowa Code section 542.20, the individual:
a. Consents to the personal and subject matter
jurisdiction and regulatory authority of the board including, but not limited to,
the board's jurisdiction to revoke the practice privilege or otherwise take
action under Iowa Code section 542.14 for any violation of Iowa Code chapter 542
or board rules;
b. Appoints the
regulatory body of the state that issued the license in the individual's
principal place of business as the agent upon whom process may be served in any
action or proceeding by the board against the individual;
c. Agrees to supply the board, upon the board's
request and without subpoena, such information or records licensees are similarly
obligated to provide the board under Iowa Code chapter 542, including but not
limited to the information described in Iowa Code section
542.20(7)
"c"; and
d.
Agrees to promptly cease offering or providing public accounting services in Iowa
or for a client with a home office in Iowa if the license in the individual's
principal place of business expires or is otherwise no longer in good standing,
or if any of the conditions for exercising the practice privilege are no longer
satisfied, or if the board revokes the practice privilege.
