A bill for an act relating to qualifications for a certificate as a certified public accountant and including effective date provisions.(Formerly SSB 1141.)

Iowa Senate File 477 (SF477) was a legislative proposal aimed at modifying the educational and experience requirements for obtaining a Certified Public Accountant (CPA) certificate in Iowa. The bill proposed two pathways for certification: (1) completing at least 150 semester hours of college education, earning a degree, and acquiring no less than one year of relevant experience; or (2) completing at least 120 semester hours of college education, earning a degree, and acquiring no less than two years of relevant experience. The degree had to be at least a baccalaureate from a recognized college or university, with a concentration in accounting or a substantially equivalent area of study. However, SF477 was withdrawn on April 8, 2025, and its provisions were incorporated into House File 778 (HF778), which was subsequently signed into law by the Governor on May 1, 2025.

The passage of HF778, which incorporated the provisions of SF477, was generally well-received by the accounting community and educational institutions. Supporters highlighted that the new pathways to CPA certification would provide greater flexibility for aspiring accountants, potentially increasing the number of qualified professionals in the field. The option to qualify with 120 semester hours and two years of experience was particularly praised for accommodating individuals who might not pursue the traditional 150-hour educational route but possess substantial practical experience.

Critics of the legislation expressed concerns that reducing the educational requirements from 150 to 120 semester hours, even with additional experience, might dilute the rigor and perceived value of the CPA credential. Some stakeholders worried that this change could lead to inconsistencies in the competency levels of newly certified accountants, potentially affecting the profession's overall standards and public trust.