The CPA profession recommends 150 (semester) hours of college credit to sit for the Uniform CPA Examination. The purpose of this recommendation is that candidates must have not only the accounting and business-related education the public expects, but also the broader, general education that has become a prerequisite for a CPA in today's highly technical, complex business environment.

More than 40 states have enacted a 150-hour law. The purpose of this information is to provide some guidance on the implementation of the law in Iowa. Please contact the Iowa Accountancy Examining Board at 515-281-5910 or check out the Examining Board's Web site (www.state.ia.us/government/com/prof/account/home.html) should you require more information.

(The following verbiage has been approved by the Examining Board.)

Iowa's 150-hour legislation was approved by the Legislature and signed into law by Governor Terry E. Branstad in May 1992. It states that, upon notification that a successful CPA exam candidate has passed the professional ethics exam, the candidate who meets the 150-hour education requirement (see the rules section following) will be awarded a CPA certificate by the Iowa Accountancy Examining Board. Successful CPA examination candidates who do not meet the 150-hour education requirement will not be awarded a CPA certificate until the Examining Board has been notified that the requirement has been met.

In addition, candidates applying to sit for the Uniform CPA Examination must:

On or after January 1, 2001, a candidate will be deemed to have met the education requirement if, as part of the 150 semester hours of education, he/she has met one of the following four conditions. With each of the conditions listed below, the minimum accounting hours do not include elementary accounting (principles of accounting), business law, internships, or life experience.

1. Earned a graduate degree with a concentration in accounting from a program that is accredited in accounting by an accrediting agency recognized by the Examining Board.
2. Earned a graduate degree in business from a program that is accredited in business by an accrediting agency recognized by the Examining Board which included at least 24 semester hours in accounting including courses covering the subjects of financial accounting, auditing, taxation, and management accounting.
3. Earned a baccalaureate degree in business or accounting from a program that is accredited in business by an accrediting agency recognized by the Examining Board which included at least 24 semester hours in accounting including courses covering the subjects of financial accounting, auditing, taxation, and management accounting.

4. Earned a baccalaureate or higher degree and completed the following hours from an accredited educational institution recognized by the Examining Board:

   a. at least 24 semester hours in accounting courses covering the subjects of financial accounting, auditing, taxation, and management accounting.

   b. at least 24 additional semester hours in business-related courses, not including internships or life experience.

Beginning July 1, 2002, certificates will not be issued until candidates have completed one year of qualifying experience in addition to the applicable educational requirements (i.e., 150 hours).

Note: Iowa candidates are not required to have 150 semester hours in order to sit for the exam. However, a baccalaureate degree is required to apply to sit.

Who is impacted by Iowa's 150-hour law?

Any first-time Iowa candidate who applies to sit for the Uniform CPA Examination after January 1, 2001, will be subject to the 150-hour education requirement.

Yes, provided the candidate has received a baccalaureate degree. Also, the candidate must have completed 24 hours of accounting courses (not including principles of financial and managerial accounting, internships, or life experience) and at least 24 additional semester hours in business-related courses.

The additional hours must be obtained from a college or university recognized by the Iowa Accountancy Examining Board. The Examining Board recognizes state-supported educational institutions granted collegiate status by Iowa, the American Assembly of Collegiate Schools of Business, and regional accrediting bodies listed in a current publication of the Accrediting Institutions of Post-Secondary Education.