Iowa Administrative Code
Agency 193A - ACCOUNTANCY EXAMINING BOARD
Chapter 7 - CERTIFIED PUBLIC ACCOUNTING FIRMS
Rule 193A-7.3 - Application contents
Current through Register Vol. 46, No. 19, March 20, 2024
Applicants for a firm permit to practice will provide information requested by the board, including:
(1) The lawful name of the firm.
(2) The legal form and jurisdiction of the firm's organization.
(3) Contact information for the principal place of business of the firm and each Iowa office.
(4) All jurisdictions in which the firm is licensed or has applied for licensure.
(5) The names, licensure, and contact information for all persons responsible for supervising attest and compilation service or responsible for the proper licensure of the firm.
(6) The highest level of public accounting services offered by the firm, such as compilation or attest.
(7) Evidence of satisfactory completion of the last firm peer review, when applicable.
(8) Sufficient information from which the board can determine that a simple majority of owners hold a CPA certificate under Iowa Code section 542.6 or 542.19 or hold a CPA certificate in another state and are eligible to exercise a practice privilege under Iowa Code section 542.20. The board reserves the right to request at any time a full list of owners, or a targeted sublist, such as a list of those persons who perform services from an Iowa office or those who perform attest or compilation services in Iowa or for a client with a home office in Iowa.
(9) The affirmation described in 193A-paragraph 6.3(3)"c."
(10) Affirmation that all CPAs who are responsible for supervising attest services for the CPA firm or who sign or authorize someone to sign the accountant's report on behalf of the CPA firm satisfy the experience or competency standards established by nationally recognized professional standards.
(11) Affirmation that all CPAs or LPAs who are responsible for supervising compilation services or who sign or authorize someone to sign the accountant's compilation report on behalf of the firm comply with nationally recognized professional standards that are applicable to the compilation services performed in Iowa or for a client with a home office in Iowa.
(12) Affirmation that all nonlicensee owners are active participants in the firm or affiliated entity.
(13) Affirmation that the firm and its licensed or unlicensed owners will comply with all applicable Iowa laws and rules, including rules of professional conduct, when practicing in Iowa or for a client with a home office in Iowa.
(14) Details of any past denial, cancellation, revocation, suspension, refusal to renew, or voluntary surrender of a professional license of any kind, authority to practice, or practice privilege by the board or another state agency in any jurisdiction, a federal agency, or the PCAOB, regarding the firm and the firm's current owners (e.g., partners, shareholders, or members).
(15) Details of any past felony conviction or the conviction of any crime, any element of which is dishonesty or fraud, as provided in Iowa Code section 542.5(2), under the laws of any state or the United States, regarding the firm and the firm's current owners (e.g., partners, shareholders, or members).
