ARC 2719C

ARC 2719C

ACCOUNTANCY EXAMINING BOARD[193A]

Adopted and Filed

Pursuant to the authority of Iowa Code section 542.4, the Accountancy Examining Board hereby amends Chapter 2, "Organization and Administration," and Chapter 9, "Reciprocity and Substantial Equivalency," Iowa Administrative Code.

These amendments reflect partial compliance with Iowa Code section 17A.7(2), which states that beginning July 1, 2012, over each five-year period of time, an agency shall conduct an ongoing and comprehensive review of all of the agency's rules. The goal of the review is the identification and elimination of all rules of the agency that are outdated, redundant, or inconsistent or incompatible with statute or its own rules or those of other agencies. The amendment to Chapter 2 updates outdated address information. The amendment to Chapter 9 provides for recognition of a broader scope of accountant designations outside of the United States.

Notice of Intended Action was published in the Iowa Administrative Bulletin on June 22, 2016, as ARC 2598C. A public hearing was held on July 14, 2016, at 9 a.m.in the Board office, 200 E. Grand Avenue, Suite 350, Des Moines, Iowa. No comments were received. These amendments are identical to those published under Notice.

There is no fiscal impact. No current fees are being changed, and no new fees are being imposed.

These amendments are subject to waiver or variance pursuant to 193A—Chapter 5.

These amendments were adopted by the Board on August 31, 2016.

After analysis and review of this rule making, a positive impact on jobs is found as a result of the amendment to subrule 9.5(2). By recognizing a broader scope of acceptable accountancy designations outside of the United States, Iowa demonstrates a welcoming perspective to individuals from other countries who seek licensure in Iowa.

These amendments are intended to implement Iowa Code chapter 542.

These amendments will become effective November 2, 2016.

The following amendments are adopted.

Item 1. Amend subrule 2.1(3) as follows:

2.1(3) All official communications, including submissions and requests, should be addressed to the board at 1920 S.E. Hulsizer, Ankeny, Iowa 52001 200 E. Grand Avenue, Suite 350, Des Moines, Iowa 50309.

Item 2. Amend subrule 9.5(2) as follows:

9.5(2) A person who holds in good standing a certificate, license or designation from a foreign authority that is substantially equivalent to an Iowa CPA certificate shall be deemed qualified for an Iowa CPA certificate if the person satisfies all of the provisions of Iowa Code section 542.19(3). The burden is on the applicant to demonstrate that such certificate, license or foreign designation is in full force and effect and that the requirements for that certificate, license or foreign designation are comparable or superior to those required for a CPA certificate in this state. Original verification from the foreign authority which issued the certificate, license or designation shall be required to demonstrate that such certificate, license or designation is valid and in good standing. If the applicant cannot establish comparable or superior qualifications, the board shall require that the applicant pass the uniform certified public accountant examination designed to test the applicant's knowledge of practice in this state and country. If the applicant is a Canadian Chartered Accountant, Australian Chartered Accountant or Australian Certified Practicing Accountant, Hong Kong CPA, Ireland Chartered Accountant, Mexico Contador Público Certificado (CPC), or New Zealand Chartered Accountant, the applicant may be required to take the International Uniform CPA Qualification Examination (IQEX) in lieu of the uniform certified public accountant examination.

[Filed 9/1/16, effective 11/2/16]

[Published 9/28/16]

Editor's Note: For replacement pages for IAC, see IAC Supplement 9/28/16.