1. Meet the Education Requirements to Sit for the CPA Exam.
Candidates for the Iowa CPA Exam must have a bachelor’s degree from a regionally accredited college or university. To meet Iowa CPA education requirements, candidates must complete 150 semester hours of college credit, consisting of only 120 semester hours, earning a post-baccalaureate certificate or master’s in accounting represents the most tried and true option to gain the 30 additional credits required to become a CPA in Iowa.
2. Apply for the Uniform CPA Exam
Once you have completed the Iowa Accountancy Examining Board’s educational requirements, you are entitled to take the Uniform CPA examination. Once authorized, you will get a notice to schedule (NTS) the exam from NASBA. The NTS is delivered using the way you specify.
3. Pay for the Uniform CPA Exam
In Iowa, the cost of taking all four sections of the CPA test is $1,419.20, plus a $90 education evaluation application fee.
4. Notice to Schedule (NTS)
After their application has been approved, candidates can expect to receive a Notice to Schedule (NTS) from NASBA, which will indicate the section or sections of the test they are entitled to take. At this time, you may schedule your test through Prometric.
5. Pass the Uniform CPA Exam
The National Association of State Boards of Accountancy (NASBA) administers the board’s exam application and administration procedures. Applicants may apply for the exam by visiting the NASBA website. Iowa applicants may take the exam up to 120 days before finishing the bachelor’s degree requirement; however, the exam results will not be provided until the candidate has finished the bachelor’s degree educational requirements.
The CPA exam consists of the three core sections and candidates would need to select one of the three discipline to demonstrate deeper skills and knowledge, allowing candidates to choose a specialization. There is no set order in which the exam portions must be completed. You must pass each section with a score of 75 or higher within 18 months.
6. Gain Necessary Experience
To meet the Iowa CPA experience requirements, you must have at least one year of accounting experience or 2,000 hours of accounting experience. Work experience earned in government, academia, and private or public practice can be applied to the requirement. It is important to note that certified CPA aspirants must have at least two years of experience. All candidates’ experience must be validated by an actively qualified CPA.
7. Ethics Requirement
The candidate must also meet the Iowa CPA ethics exam requirements by passing the Professional Ethics: The AICPA’s Comprehensive Course For Licensure. The AICPA website has more study resources. You can check their website.
8. Apply for a CPA License
Candidates who have passed the Uniform CPA and ethics exams, as well as fulfilled the required experience hours, can now apply for an Iowa CPA license. There are no paper applications available, and the Board only accepts online applications. It is important to note that applicants who passed the Uniform CPA Exam three years or more before applying for a license must also disclose 120 hours of ongoing education.
9. CPA License Renewal
The Board sends out renewal reminders online in May; nonetheless, it is the individual’s obligation to confirm the license is valid. The Board sends out renewal reminders online in May; nonetheless, it is the individual’s obligation to confirm the license is valid.
10. Continuing Professional Education (CPE)
CPAs must complete 120 hours of continuing education (CE) after receiving their license, with at least four hours in ethics. CPAs who manage compilation services must additionally complete eight hours of continuing education in financial statement presentations every three years. It should be noted that all CE must be completed by December 31 or June 30, preceding the July 1 renewal deadline. CPAs can determine which data will be utilized to compute CE requirements.
Estimated Cost: 1419.20 USD