All Iowa CPAs must complete continuing professional education to maintain an active license. Iowa operates on a flexible reporting period in which licensees may choose either Dec. 31 or June 30 as their CPE reporting date. Licenses renew annually on June 30.
Triennial CPE requirements
Iowa requires 120 hours of CPE during a three-year period. The 120 hours must include 4 hours of ethics and rules of professional conduct.
Flexible reporting period
Licensees declare which CPE date they use when they renew. They may choose either three prior years ending Dec. 31 or three prior years ending June 30. Licensees may choose a different deadline for each renewal cycle.
Ethics requirements
Four hours of ethics and rules of professional conduct CPE are required during the three-year period. No specific state board approval is required.
Accounting and auditing requirements
CPAs supervising compilation services or signing compilation reports must complete 8 hours in financial statement presentation, such as SSARS and accounting and auditing updates.
Credit limitations
Self-study
Self-study credits are limited to 50% (60 hours) of the total requirement.
Instruction
Instruction credits are limited to 50% (60 hours) of the total requirement.
Published materials
Authorship credits are limited to 25% (40 hours) of the total requirement.
Other credit limitations
Certification exam credit (CMA, CISA, CFP, EA) is limited to 50% of the total requirement (60 hours) and is calculated at 5 times the exam length. Meal meetings are limited to 25% (30 hours) and 2 credits per instance. Non-technical subjects are limited to 50% (60 hours).
No carryover allowed
Hours exceeding requirements may not be carried forward to a subsequent renewal period.
Grace period
Licensees completing CPE within 30 days after expiration are assessed a $25 late fee plus a $100 penalty. Failure to complete CPE after the grace period results in license lapse.