An applicant for a CPA certificate shall disclose on the application all background and character information requested by the board including, but not limited to:

a. All states or foreign jurisdictions in which the applicant has applied for or holds a CPA certificate or license, or a substantially equivalent designation from a foreign country.

b. Any past denial, revocation, suspension, or refusal to renew a CPA certificate, license or permit to practice, or voluntary surrender of a CPA certificate, license or permit to resolve or avoid disciplinary action, or similar actions concerning a substantially equivalent foreign designation;

c. Any form of discipline imposed against the holder of a CPA certificate, license or permit, or a substantially equivalent foreign designation;

d. The conviction of any crime; and

e. The revocation of a professional license of any kind in this or any other jurisdiction.

Verification of state licensure

An applicant holding a CPA certificate or license from another state or states shall submit verification that the applicant's CPA certificate or license is valid and in good standing in the state in which the applicant's principal place of business is located. The applicant may attach a letter of good standing to the letter. Such letter of good standing shall be prepared by the state in which the applicant's principal place of business is located and shall be dated within six months of the date of application. The board will accept verification from another state's board by facsimile or E-mail. The board reserves the right to require an original document directly from another board.

Qualifications for a CPA certificate

A person who holds in good standing a valid CPA certificate or license from another state shall be deemed qualified for an Iowa CPA certificate if the person satisfies one of the following three conditions:

1. Substantially equivalent state. The licensing standards on education, examination and experience of the state which issued the applicant's CPA certificate or license were, at the time of licensure, comparable or superior to the education, examination and experience requirements of Iowa Code chapter 542D, in effect at the time the application is filed in Iowa. The board may accept the determination of substantially equivalency made by the National Association of State Boards of Accountancy (NASBA) or make an independent determination of substantial equivalency.

2. Individual substantial equivalency. The applicant's individual qualifications on education, examination and experience are comparable or superior to the education, examination and experience requirements of Iowa Code chapter 542D, in effect at the time the applicaiton is filed in Iowa.

3. "Four-in-ten-rule." The applicant satisfies all of the following:

(1) The applicant passed the examination required for issuance of the applicant's certificate or license with grades that would have been passing grades at the time in this state.

(2) The applicant has had at least four years of experience within the ten years immediately proceeding the application which occurred atfer the applicant passed the examination.

(3) If the applicant's certificate or license was issued more than four years prior to filing of the application in this state, the applicant has fulfilled the continuing education requirements described in Iowa Code chapter 542D.6(3) and Iowa Administrative Rules 193A--chapter 10.

Approval of the application

Unless the application reveals grounds to deny the application, the board is otherwise aware of such grounds, or the application is unaccompanied by the proper fee, the board's administrator shall approve an application which qualifies under Iowa Code chapter 542D.19(1)(a) as rapidly as feasible and shall deem the effective date of approval to practice in Iowa to be the date the board received the completed application with timely letter of good standing in a substantially equivalent state.