Iowa Administrative Code › Agency 193A - Accountancy Examining Board › Chapter 7 - Certified Public Accounting Firms › Rule 193A-7.3 - Application Contents

Current through Register Vol. 47, No. 3, July 24, 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).