193A—6.2 (542) Attest experience required.
	   6.2(1) A CPA who is responsible for supervising attest services or who signs or authorizes someone to sign the accountant’s report on behalf of a firm shall have two years of full-time or part-time equivalent experience that extends over a period of no less than two years and includes no fewer than 4,000 hours, at least 2,000 of which shall be in providing attest services under the supervision of one or more CPAs responsible for supervising attest services on behalf of a CPA firm that holds a permit to practice in Iowa or an equivalent form of CPA firm licensure in another jurisdiction.
	   6.2(2) Experience shall include all of the following:
	      a.    	 Experience in applying a variety of auditing procedures and techniques to the usual and customary financial transactions recorded in accounting records.
	      b.    	 Experience in the preparation of audit working papers covering the examination of the accounts usually found in accounting records.
	      c.    	 Experience in the planning of the program of audit work including the selection of the procedures to be followed.
	      d.    	 Experience in the preparation of written explanations and comments on the findings of the examinations and on the content of the accounting records.
	      e.    	 Experience in the preparation and analysis of reports and financial statements together with explanations and notes thereon.
	   6.2(3) Verification of attest experience shall be provided by the applicant and by a CPA who supervised the applicant or, if a supervising CPA is unavailable, by a CPA or CPA firm with sufficient factual documentation to verify the applicant’s attest qualification.
	   6.2(4) Any applicant or CPA who has been requested to submit to the board evidence of an applicant’s attest experience and has refused to do so shall, upon request by the board, explain in writing or in person the basis for the refusal. The board may require any applicant or CPA who furnished the evidence of an applicant’s experience to substantiate the information provided. An applicant may be required to appear before the board to supplement or verify evidence of experience. The board may inspect documentation relating to an applicant’s claimed experience.
[ARC 7715B, IAB 4/22/09, effective 7/1/09; ARC 2152C, IAB 9/30/15, effective 11/4/15]